The stability of our economy is something that we continue to strive for, and the rate at which our nation, and Georgia specifically, is developing has exponentially exceeded my expectations. This did not happen by accident. We’ve been working diligently in the Georgia Senate to pass strong economic development legislation to support job creation. Government does not create jobs, but we can create an environment for success. Decreasing unemployment rates is a goal in our state and nation every year, but this is only a piece of the overall puzzle in terms of state and national economic development.Georgia has been named the No. 1 state in the country to do business for the fifth consecutive year. Last November, Site Selection, an economic development trade publication, ranked Georgia’s business climate as No. 1 for the sixth consecutive year. According to their records, “Georgia is the first state to hold this ranking for six consecutive years under leadership by the same governor.” There are many reasons for this; here are a few:
According to the National Conference of State Legislatures (NCSL), Georgia’s unemployment rate was at 10.3 percent in December 2009. Fast-forward nine years to October 2018, and our unemployment rate fell to 3.6 percent. In 2018 alone, Georgia’s unemployment rate fell from 4.5 percent in January to 3.6 percent in October. Our state continues to be an industrial hot spot with more and more businesses opening, or hoping to open, to provide employment to Georgia residents. At the rate we are growing, I am confident that we are headed in the right direction, ensuring that we are finding as many employment opportunities for Georgians as possible.
Another major component that contributes to our economic climate is our international transportation of goods. According to the Georgia Department of Economic Development, our state has an international presence in 12 global markets with exports to 215 countries and territories worldwide, making us the 12th largest exporting state in the nation. From 2008 to 2017, Georgia has seen an increase by billions of dollars in export industries with aerospace, defense, and security at the top of the list. Other notable industries include agribusiness, automotive, medical devices, pharmaceuticals, and building and construction. Our major import industries include vehicles (non-railway), heavy machinery, and electrical machinery. Georgia ranks seventh in the nation based on dollar value imports, with imports from 17 different countries exceeding more than $1 billion.
Additionally, the film industry continues to thrive in Georgia. Also noted by the Georgia Department of Economic Development, the film industry has created a $9.5 billion economic impact on our state, boosting not only entertainment, but also employment, tourism, and even our education systems by offering courses and firsthand experience in film.
I believe that our state is in a great place with regard to economic strength, and I’m confident that we’ll continue this path. That said, our state is only one part of the overall success our nation’s economy has seen and will continue to see.
to your business!