POST Online Media Lite Edition



 

Georgia shatters investment and job records in FY22

Christian Fernsby |
Governor Brian P. Kemp, in conjunction with the Georgia Department of Economic Development (GDEcD), announced that Georgia achieved another record year for economic development investments and job creation in the state during fiscal year 2022.

Article continues below




Investments and job creation were 94 percent and 53 percent above prior economic development records, respectively.

"From day one, my administration has prioritized bringing jobs and investment to every corner of our state," said Governor Kemp.

"We have consistently set records; only to shatter them the following year as we have never been content to rest on our laurels. We are proud companies continue to recognize the advantages of Georgia's business-friendly environment, superior logistics network, top-ranked workforce training program, and our relentless pursuit of being the best state in the nation for Americans to live, work, and raise a family. Our success means that hardworking Georgians have every opportunity imaginable to also succeed, and it is what drives our efforts day-in and day-out."

Investments in expansions and new locations totaled more than $21.2 billion, and 51,132 jobs were created in the state through 358 projects supported by GDEcD’s Global Commerce team between July 1, 2021, and June 30, 2022.

Excluding the two largest projects in state history – Rivian and Hyundai Motor Group – Georgia jobs and investments for the year totaled 35,532, and $10.7 billion, respectively. These were two of 12 automotive projects, which created a total of nearly 16,000 new jobs across the state.

Eighty-five percent of the investments and more than 30,000 new jobs came from outside the 10-county metro Atlanta region. Companies choosing to expand in Georgia accounted for 74 percent of total projects, and new locations created 33,846 jobs across the state.

Another leading job-growth sector, advanced manufacturing, added more than 10,000 new jobs in the state. Both of these industries include manufacturers and suppliers for the electric vehicle (EV) industry. Hyundai Motor Group Metaplant America’s (HMGMA) development also includes EV battery manufacturing along with affiliate suppliers on-site.

These companies have been joined by component recyclers Aurubis and Ascend Elements as part of Georgia’s efforts to build a sustainable, reliable supply chain for its electric mobility ecosystem.

Additional strong gains in jobs came from bioscience and FinTech.

Bioscience saw a 147 percent increase in job creation compared to last year with the support of companies such as Boston Scientific and Boehringer Ingelheim. FinTech projects created $32 million in investment and 1,215 new jobs this fiscal year. Georgia’s diverse workforce and the state’s top-tier universities have continued to attract digital and FinTech leaders like Cisco and Visa to the state.

Supported by Georgia’s agricultural strength and notable logistics and distribution capabilities, the food processing industry continued its momentum as well.

Thanks to access to the Hartsfield-Jackson International Airport, the busiest and most efficient airport in the world; the Port of Savannah, the single largest and fastest-growing container terminal in America; and a robust network of highways and rail lines, the logistics and distribution industry itself remains an economic engine for Georgia.

Foreign direct investment (FDI) accounted for over $8 billion in investments created in fiscal year 2022. The top five sources were South Korea, Germany, Japan, France, and the Netherlands. Korea-based projects represented the highest job creation and investment from a single country, with Germany producing the second most jobs and investments after Korea.

As part of the state’s efforts to attract new opportunities to Georgia, GDEcD engages with companies and public partners across the world to establish new connections and build on existing relationships.

In FY22, GDEcD Commissioner Pat Wilson led economic development missions to top countries for trade and investment such as the United Kingdom, South Korea, and Germany.

Through meetings with economic development drivers like Hyundai Motor Group and SK On or discussing new opportunities for development with the German state of North Rhine-Westphalia or the Liverpool City Region Freeport, the State of Georgia continues to reinforce and expand its global network.

To catalyze economic growth and industrial development, GDEcD offers "Georgia Ready for Accelerated Development" (GRAD) certification, which recognizes pre-qualified industrial sites for which due diligence has been completed prior to a prospect visit.

Through this program, Georgia has worked with property owners, development authorities, or economic development offices to certify more than 60 industrial sites as ready for fast-track industrial projects.

Georgia’s nationally recognized Quick Start program, which has developed specialized training tailored specifically to business needs for 55 years, provides companies with the trained workforce needed to support new locations or expansions.

This announcement marks a new high-water mark for sustained economic growth in Georgia under Governor Kemp's leadership.

Since he took office and in conjunction with GDEcD, more than 119,963 new jobs and over $42.9 billion in investment have been announced in communities across the state. Seventy-seven percent of state economic development projects, 81 percent of investments, and 57 percent of jobs in that time have have gone to communities outside the 10-county metro Atlanta area.


What to read next

More than 10,000 jobs created during Q1 in Georgia
Georgia jobless rate lowest since 1976
Georgia unemployment rate drops to unprecedented 2.6%

Hurricane Ian lashes Cuba, 50,000 evacuated

 
Strengthening Hurricane Ian lashed Cuba where 50,000 people have been evacuated 50,000 people, as the hurricane became a major Category 3 storm on Tuesday.
 
 

Latest

Louisiana announces apprenticeship project for growing new beekeepers in Louisiana opportunity
Venezuela-Colombia border formally reopens
Brazil's FDI hits highest level in 10 years
Colorado egg producers will begin transitioning to cage-free hen housing

NEWS

Sweden issues warning of two gas leaks on Nord Stream 1 pipeline

Air India plane makes emergency landing after hitting bird
Plane that left Santo Domingo makes emergency landing in Bahamas
Dogs to detect undeclared lithium batteries
Japan to welcome international visitors beginning October 11
Arab Spring generation: U.S. not first ally any more but they would like to live there
 

BUSINESS

President Sisi inaugurates projects of General Authority for Investment, Free Zones

NHSRCL invited tenders for India’s first 7-km long underwater tunnel
Denmark and Germany building world’s longest immersed tunnel
China's biggest air show to take off
AUD65 million stolen from seafarers in Australia
New York City approves contract for $7 billion Penn Station redesign
 

Trending Now

Nykode Therapeutics announces positive results of Nykode’s T cell focused pan-SARS-CoV-2 vaccine candidate

AUD65 million stolen from seafarers in Australia

Romania requests €4 billion EIB support to co-finance health and transport investment

Heart pacing company Ceryx Medical partners with Osypka Medical


POLITICS

France to halt fossil fuel export guarantees next year

Hungary says West in favor of Russia-Ukraine war
Romania requests €4 billion EIB support to co-finance health and transport investment
Texas delegation leading business development mission to Europe
Czechia to get €1.64 billion for climate transition
UAE, Germany sign energy security, industry accelerator pact
 

Today We Recommend

AUD65 million stolen from seafarers in Australia


Highlights 

Virginia: RapidFlight to establish operations in Manassas, create 119 new jobs

New York City approves contract for $7 billion Penn Station redesign

Macy's to hire colleagues for more than 41,000 seasonal positions


COMPANIES

Heart pacing company Ceryx Medical partners with Osypka Medical

Virginia: RapidFlight to establish operations in Manassas, create 119 new jobs
Evermade Foods to expand in Virginia
Ballard Power Systems to supply fuel cell engines for first U.S. hydrogen train
Macy's to hire colleagues for more than 41,000 seasonal positions
Romania: Autonom receives €15 million EIB backing to increase electric and hybrid car fleet
 

CAREERS

Phathom Pharmaceuticals appoints James Toppe to board

Industrial Logistics Properties Trust appoints Brian E. Donley as CFO
Advance Auto Parts appoints Herman L. Word, Jr. as vice president
MSC launches MSC Air Cargo, Jannie Davel to lead operations
Paul Boudre appointed chairman of UnitySC
Serge Lupas appointed as CEO of Cyclomedia
 

ECONOMY

Indonesia posts $7.1 billion January-August budget surplus

Greek economy to grow 6% this year, 2.8% in 2023
Netherlands' economic growth of 2.6 percent in Q2 2022
Lithuania industrial output growth rises in August
Euro area business activity contracts at sharper pace in September
Germany's manufacturing activity at 27-month low
 

EARNINGS

Lifeway Foods reported financial results for Q2

Aldi UK profit down 79%
Costco Q4 net sales increased 15.2 percent
FedEx Q1 profit down
Accenture Q4 revenues increased 15%
Darden Restaurants Q1 income drops
 

OP-ED

Micromanaging is the worst enemy of efficiency and teamwork

Niger set to monetize massive gas reserves through Saharan natural gas pipeline
Putting the brakes on EV folly that choked the market
Oil discovery in Kavango Basin may mean huge benefits for Namibians
Cape Town and Dubai battle over Africa's energy future
Is America going to lose its superpower status?
 

AGRIFISH

Russian Makfa starts exporting flour to Saudi Arabia

Russia: 15 million edible chicken eggs shipped from Novosibirsk to Mongolia
Oriental Fruit Fly quarantine in portion of Orange County, California
Mass fish die-off in Poland not caused by nature
Hong Kong suspends import of poultry meat and products from Breckland District of Norfolk County, UK
Hong Kong suspends import of poultry meat and products from Oost-Vlaanderen Province, Belgium
 

LEADERSHIP

Cybervetting can have pronounced impact on workforce by broadening discrimination

Female managers pay fairer
Pitch quality of CEO voices rests entirely on gender
Employee turnover costs more than you think
51% of supply chain leaders increased number of network locations
If company overcomes post-IPO innovation slump, it will survive longer
 

CRIME

UK: Firms fined for fixing prices fans pay for Rangers FC merchandise

Three convictions in Croatia for illegal favouritism and attempt of abuse of function
SEC charges Compass Minerals for misleading investors about its operations at world’s largest underground salt mine
SEC charges Cheetah Mobile’s CEO and its former president with insider trading
Stockholm bourse fines SAS $175,000 over pilot strike information
Boeing to pay $200 million to settle SEC charges that it misled investors about 737 MAX
 

Magazine

TRAVEL

Skate with Olympic star Patrick Chan at Vancouver rinks

Annual Peanut Festival in Aubrey, Tx. is celebration of past and joy of present
Anantara Grand Hotel Krasnapolsky Amsterdam opens
Grand festive season in India starts with Navratri
300 artists from 65 nations will participate in Qatar International Art Festival
Hilton Hiroshima hotel opens in Japan
 

SEA, LAND, AIR

Caterham Super Sevens, true joy of ride

New Ford Mustang brings digital cockpit, new engines and style
Ram 1500 Limited Elite Edition joins lineup for 2023
2023 GMC Canyon AT4X, new midsize truck
Shelby Code Red, $210,000+ to upgrade your Ford Mustang
Zero Motorcycles SR/S electric bike, effortless power, effortless control
 

DESIGN

Noritake tableware, to pass down to the new generation as an heirloom

Tecnografica wallcoverings from the land of ceramic
Poliform, kitchens for extraordinary homes
Luxury vinyl tiles, ideal combination of everything
LED lamps, long-lasting light for every space in your home
Clean and luxurious men's watches
 

GADGETS

Leica S3, made in Germany for great pictures

Sennheiser HD 300 PROtect, pro headphones that protect your ears
HP Dragonfly Folio G3, very very good laptop for business users
Nokia PureBook Fold and PureBook Lite, flexibility and stylish design
Tascam 202MKVII, professional dual cassette deck
Bose Frames Tenor, glasses for music and calls
 

HEALTH

Nykode Therapeutics announces positive results of Nykode’s T cell focused pan-SARS-CoV-2 vaccine candidate

Pfizer and BioNTech submit application to FDA for emergency use of bivalent vaccine booster in children 5 to 11
UK: Second vaccine doses to be offered to those at highest risk from monkeypox
White House announces $1.5 billion to prevent opioid overdose deaths
Pfizer applies to Swissmedic for authorisation of second bivalent COVID-19 vaccine
Pfizer, Sangamo Therapeutics in Phase 3 trial of investigational gene therapy for Hemophilia A, reopened recruitment
 

MEANTIME

NASA conducts first planetary defense test mission

Mysterious ripples in the Milky Way were caused by a passing dwarf galaxy
Astronomers detect hot gas bubble swirling around the Milky Way's supermassive black hole
NASA’s Dart probe to smash into asteroid in first Earth defence test
Search for clues may explain collapse of ancient city in Mexico
Astronomers unveil new and puzzling features of mysterious fast radio bursts