Global Commerce Generates $5.56B in Investments in Past Year
Friday, August 3rd, 2018
Gov. Nathan Deal announced that the Georgia Department of Economic Development’s Global Commerce Division helped create a total of 27,373 new jobs during FY 18, generating $5.56 billion in investments. This growth is the result of a record-breaking 419 expansion or relocation projects throughout the state.
“Industry leaders and companies from around the world continue to choose Georgia thanks to the world-class, business-friendly environment we have built over the last eight years,” said Deal. “Georgia’s unparalleled resources, including our highly skilled workforce and our physical and digital infrastructure, continue to attract international companies that are planning to expand or relocate. These numbers reflect Georgia’s appeal to global job creators and translate to real economic growth in our communities and new job opportunities for families across the state. Nearly 80 percent of these projects brought investments to communities outside of the metro Atlanta area, demonstrating the depth of talent, investment and connectivity available in every corner of the state.
“With the support of the General Assembly and local officials, Georgia has established a worldwide reputation as a reliable and innovative place for businesses of all sizes to plan for future growth. I commend Commissioner Pat Wilson for his leadership, as well as the dedicated GDEcD team that works to keep Georgia on the minds of business executives around the world. As we head further into this century of promise and work to maintain Georgia’s position of leadership on the international stage, we are creating opportunities today and for generations to come. While we have cemented our reputation as the No. 1 state in which to do business, we are also making Georgia the best place to live, work and raise a family.”
State snapshot for FY 18:
- 419 projects generated $5.56 billion in investments and created 27,373 jobs.
- Nearly 80 percent of projects were located outside of metro Atlanta counties, resulting in the creation of 14,447 jobs and $4.6 billion in investments.
- Businesses already located in Georgia created 13,864 jobs and generated $2.84 billion in investments.
- Companies new to the state created 13,499 jobs and generated $2.72 billion in investments.
- There was job growth of 153 percent in the software and technology sectors, and 83 percent for data centers.
- 89 international projects (Foreign Direct Investment) created more than 6,800 jobs and generated more than $1.9 billion in investments.
- European companies included 49 locations, created 3,831 jobs and generated $837 million in investments. Companies from the United Kingdom, France and Germany led European companies in job creation.
- Companies based in Asian countries included 24 locations, created 1,822 jobs and generated $489 million in investments. Korean and Japanese companies provided the largest investments among Asian companies.
- GDEcD’s Entrepreneur and Small Business team served 586 businesses, 60 percent of which are startup companies.
“FY 18 was an incredible year for GDEcD’s Global Commerce Division, and I am proud of their hard work and dedication to Georgia,” said GDEcD Commissioner Pat Wilson. “Creating this kind of impact in the state is not a one-person job – we work closely with our local economic development partners, utility partners, sister state agencies, educational institutions and beyond to provide our new projects and existing industries access to competitive advantages and strategic assets. These results are a win for all of us.”
GDEcD’s Global Commerce Division is responsible for helping companies from around the world locate or expand in Georgia. The division partners with state agencies and local communities throughout the state to facilitate job growth and investment.
“We enjoyed an impressive FY 18, and I cannot thank my Global Commerce team across the state and around the world enough for their hard work,” said Tom Croteau, GDEcD deputy commissioner of Global Commerce. “Georgia is the ideal place for all companies to succeed. We are excited to build on this momentum in FY 19 and eager for the economic development opportunities that are ahead of us.”