From the Governor
“Through regulatory reform, targeted economic development and enhanced connectivity, we can ensure that businesses on Main Street can compete, grow and thrive.” —Gov. Brian Kemp
Georgia is continuing to grow not just as a destination for U.S. companies but also for site selectors across the globe. The Georgia Department of Economic Development’s Global Commerce Division recorded 419 expansions or relocation projects throughout the state that added 27,000 jobs and more than $5.5 billion in investments in FY 2018. Of the 89 international projects, some of the top companies were from the United Kingdom, France, Germany, Korea and Japan. 2017 was also a record-breaking year for international trade, with more than $128 billion in trade between the state and 225 countries.
Job Tax Credit: Offers up to $4,000 in annual tax savings for each job created for up to five years. In addition, the Quality Jobs Tax Credit offers a tax credit of up to $5,000 for companies that create at least 50 jobs in a 24-month period with wages 10% higher than the county average.
Port Tax Credit Bonus: Offers a $1,250 tax credit bonus to companies that increase imports or exports through a state port by at least 10% over the previous or base year.
Mega Project Tax Credit: Offers a tax credit of $5,250 per new job annually for five years for companies that hire at least 1,800 full-time employees and invest either a minimum of $450 million or have an annual payroll of at least $150 million.
Research and Development Tax Credit: Offers a tax credit based on a portion of the increase in R&D spending. The credit can be used to offset up to 50% of state income tax liability.
Georgia Department of Economic Development: georgia.org
Savannah Economic Development Authority: seda.org
Northwest Georgia Joint Development Authority: northwestgeorgia.us
Augusta Economic Development Authority: augustaeda.org
Highlighted Program or Initiative
The Georgia Centers of Innovation (COI) offer technical industry expertise, collaborative research and business partnerships to help the state’s industries compete and grow. The COI consists of five centers that specialize in aerospace, energy technology, information technology, logistics and manufacturing.
- French auto manufacturer Groupe PSA opened a new North American headquarters in Fulton County.
- Facebook announced in March that it will invest $750 million and create at least 100 jobs at a new data center in Stanton Springs.
- Thyssenkrupp Elevator Americas announced in July 2018 a $200 million headquarters and innovation complex in Cobb County that will create more than 650 new jobs.
- Starbucks announced in August 2018 it will add up to 500 new jobs at a new East Coast satellite office in Fulton County that will serve as an extension of the Starbucks Support Center in Seattle.
- Inspire Brands announced in August 2018 that it will invest approximately $32 million and add more than 1,100 jobs at a new headquarters in Fulton County.
- Brake pad manufacturer Nisshinbo Automotive Manufacturing announced in September 2018 a $72 million expansion at its Covington facility and the addition of 100 jobs.
21 Fortune 500 companies are headquartered in the state, including:
Delta Air Lines
“We are proud to call Atlanta the home of Inspire Brands…. Our vision is to invigorate great brands and supercharge their long-term growth.” —Paul Brown, Co-founder and CEO, Inspire Brands
“Atlanta is synonymous with mobility and innovation, and this move gives us one complex in a national hotbed of innovation that will allow us to serve our customers better than anyone in the industry while providing a high quality of life for our employees.” —Rich Hussey, President and CEO, Thyssenkrupp Elevator Americas
“We looked at every aspect of the Atlanta community and found it to be the most suitable location for us…. While the overall business environment, standard of living and university system played an important part in our decision, our unique needs in terms of technology, mobility innovation and car culture ultimately identified Atlanta as our perfect choice.” —Larry Dominique, President, PSA North America