Georgia Gov. Brian Kemp is celebrating another year of sustained momentum in the state’s push for new business recruitment and existing business expansion in Fiscal Year 2024, which covers July 1, 2023, through June 30, 2024.
The Georgia Department of Economic Development (GDEcD) announced Thursday its team supported 429 facility expansions and new locations, providing more than $20.3 billion in investment and 26,900 new private sector jobs.
Part of Kemp’s business recruitment and expansion push includes targeting communities outside the 10-county Atlanta region. Fiscal Year 2024 delivered on that priority, with 83% of expansions and new locations occurring outside the Atlanta metro. That includes 18,300 new jobs in communities that don’t benefit from the state’s largest business hub.
“For years, we’ve worked closely with local and state partners all across Georgia to bring historic job creation to our communities, especially in rural areas,” Kemp said.
“These figures are just the latest confirmation that our approach is bringing sustained opportunity for the people of our state, even in the face of economic headwinds on the national level. We’re committed to continuing that momentum, investing in key areas like education, workforce development and infrastructure. Thank you to the incredible GDEcD team and all our partners across the state for making this another great year.”
While the focus has been on bringing and expanding business outside the Atlanta area, the metro continues to support Georgia’s overall economy as a logistics and business hub that attracts nearly $7.8 billion in investment. Statewide, new locations account for $12.8 billion in investment, while expansions created 9,800 new jobs.
“Today’s announcement highlights the great work we are doing in Georgia to expand business opportunities across the state, from the North Georgia mountains to the coast,” Lt. Gov. Burt Jones said.
“As we build on this great momentum, we have to ensure that businesses coming to Georgia or expanding their footprint have the necessary workforce. Our Technical College System of Georgia, University System of Georgia, College and Career Academies and private-public partnerships are building Georgia’s workforce pipeline with their workforce training programs. I commend their efforts to develop and grow Georgia’s workforce, and supporting their initiatives will continue to be a priority of mine.”
The job and economic gains in Fiscal Year 2024 come after Kemp and First Lady Marty Kemp led economic development missions to Korea and Switzerland over the year, focusing on strengthening existing relationships with companies already located in Georgia, such as Hyundai Motor Group, as well as promoting the Peach State for new potential companies and investors.
In 2023, the Kemps led similar missions to Israel, France and Switzerland.
“The House has been proud to work alongside Governor Kemp and our colleagues in the Senate to continue our sustained economic development success in Georgia, and today’s announcement only solidifies those efforts,” House Speaker Jon Burns said.
“From cutting taxes and burdensome regulations to making historic investments in our education system, workforce development and infrastructure, we have delivered real results for the people of Georgia — and we will continue to do just that in the months and years ahead.”
Georgia is also celebrating more than 50 years of continuous representation in Europe and Japan, with some of the top foreign presence in the state. The state has enjoyed 40 years of continued direct investment with Korea.
“Georgia has an incredible story, from its foundations in agribusiness and manufacturing to the new heights we are exploring in mobility and technology,” GDEcD Commissioner Kristi Brigman said.
“Looking back at Fiscal Year 2024, the state achieved a decade of excellence, celebrated project milestones across the state, and worked to help communities and companies meet their long-term goals for success. Thank you to our economic development partners, utility providers, and team members for your dedication to creating jobs and opportunities for Georgia.”
The latest jobs numbers include the manufacturing sector as the top investor in the state, with half of all new expansions and locations in Fiscal Year 2024. That includes the aerospace, automotive and e-mobility sectors, such as Kia Georgia’s addition of its EV9 lineup in Troup County; Toyota’s campus in Jackson County; Standard Aero’s operations in Richmond County; and Gerresheimer’s expansion in Fayette County.
Food processing and agribusiness accounted for more than $1.3 billion in Fiscal Year 2024, including Japanese probiotic beverage company Yakult and Korean bakery CJ Foodville, among others.
Technology and corporate hubs are also expanding in Georgia, creating at least 4,400 new jobs in the past fiscal year.
