google-site-verification: google5ae98130f18ad244.html

Wednesday, August 15, 2018
   
Text Size

Economic Development

Aug. 3 - Global commerce generates $5.56 billion in investments

Category: Economic Development

Savannah Business Journal Staff Report

August 3, 2018 - Gov. Nathan Deal announced this week that the Georgia Department of Economic Development’s (GDEcD) 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.”

Overall Rating (0)

0 out of 5 stars

Leave your comments

Post comment as a guest

0 / 300 Character restriction
Your text should be in between 10-300 characters
Your comments are subjected to administrator's moderation.
terms and condition.
    • No comments found
    CLICK to SUBSCRIBE and Support Great Journalism!

    Follow Us!

    TwitterFacebook

    Komento Activities

    Guest - Lisa Porter-Grenn, M.D. - Commented on Jan. 8 – Judge Edenfield denie... in Joomla Article
    This is a qui tam law suit without sufficient merit. If Schaengold is so worried about hospital cost...
    Guest - Jack - Commented on Aug. 23 - Phelps on Politics -... in Joomla Article
    "Goose that laid the golden EYE? You're right, that is hard to argue with.
    Guest - JR Lee - Commented on MPC approves plan for new Walm... in Joomla Article
    Great, another complex to attract Savannah's finest entitlement minded individuals. Another complex ...
    Guest - Robin Sherman - Commented on Jan. 4 – COMMENTARY: New Year... in Joomla Article
    Excellent post, Ms. Phelps. Effective government can only occur when the public is informed. Transpa...
    Guest - Tao of Me - Commented on Why is Memorial Hospital Being... in Joomla Article
    They aren't telling Memorial employees anything about this. A recent survey of the facilities by Nic...
    Guest - Genie Brazzeal - Commented on Feb. 24 – Lawyer and former Al... in Joomla Article
    Thank you, Mr. Bordeaux! Bring some honesty to this court. No more winking like I experienced.
    Guest - Karl - Commented on Feb. 25 - Memorial Hospital’s ... in Joomla Article
    Good article. Has a lot of information that is very difficult for "team members"(employees) to find....
    Guest - Susan Worthington - Commented on May 13 – UPDATED 11:39 a.m. HC... in Joomla Article
    In 1953 there was not such a thing as a trauma or neonatal program. The need for Neonatal Services ...
    Guest - Linda Dominy - Commented on June 8 – EDITORIAL: Immediate ... in Joomla Article
    As a clinical team member this makes me sad and it would never happen. We can argue politics all day...
    Guest - Judy - Commented on Savannah’s Title Max Bankruptc... in Joomla Article
    How Tracy Young was allowed to file for bankruptcy or chapter 11 is amazing. Title Max should be ch...
    Guest - Samantha Claar - Commented on Aug. 7 - COMMENTARY: Je suis “... in Joomla Article
    Pertinent questions that deserve real answers. If upper management - appointed and elected - can't ...
    Guest - Lisa Grant - Commented on Aug. 11 - Jonathan Christy, MD... in Joomla Article
    I have seen this guys work for my own eyes through an associates who received a revision of TKR by D...
    Guest - Jason - Commented on Aug 9 - Lyndy Brannen Retires ... in Joomla Article
    Just a clarification - WRHQ (Quality Rock Q105.3) is owned by Thoroughbred Communications.
    Guest - Drew - Commented on Apr. 21 - WaterWays Township N... in Joomla Article
    Rewarding a gated community is for community development is about as stuck in the past as it gets.
    Guest - Felton - Commented on June 17 – Ameris Bancorp acqui... in Joomla Article
    If "This acquisition increases Ameris Bank’s total assets to approximately $5.4 billion," then the a...
    MY ACCOUNT
    CONTACT
    SOCIAL
    MORE
    ADVERTISE
    Coastal Empire News
    Headquarters: 35 Barnard St., Suite 300, Savannah, GA. 31401.
    Tel: 912-388-4692 | Hours: 8:30 a.m. to 5:00 p.m.