From the Governor
“Georgia’s unmatched pro-business environment has repeatedly served as a magnet for many global headquarters, but there is no greater endorsement than when one of our own chooses to grow and invest in the Peach State.” —Gov. Brian Kemp
Prosperity in the Peach State
Georgia remains a leader in fintech, and payment processing firms located in the state now handle approximately 70 percent of all U.S. transactions. Atlanta-based Global Payments and Columbus-based TSYS announced a merger in May 2019 where the combined organization will provide solutions to more than 3.5 million business and 1,300 financial institutions in over 100 countries. Amazon, GE Appliances, Wayfair and Korean battery manufacturer SK innovation have also made notable investments in the state in the past year.
Job Tax Credit: Offers a tax credit from $1,250 to $4,000 per year for five years for every new job created in qualifying sectors and depending on the number of jobs created.
Port Tax Credit Bonus: Offers an additional $1,250 credit per new job per year for five years for companies that increase their imports or exports through a Georgia port by 10%.
Quality Jobs Tax Credit: Offers a credit of $2,500 to $5,000 per new job per year for five years for companies that create at least 50 high-paying jobs in a two-year period.
R&D Tax Credit: Offers a credit for organizations that participate in lab research, innovation, prototyping or conducting new products or processes or tests on manufacturing equipment.
Tax Exemptions: Offers a variety of exemptions on sales and use taxes for a wide range of expenditures made by manufacturers.
Georgia Department of Economic Development: georgia.org
Augusta Economic Development Authority: augustaeda.org
Invest Atlanta: investatlanta.com
Greater Columbus Georgia Chamber of Commerce: choosecolumbusga.com
Savannah Economic Development Authority: seda.org
Highlighted Program or Initiative
The Georgia FinTech Academy was formed in 2018 and has a goal of producing more than 2,000 graduates by 2023 to address the workforce needs in the financial technology industry. It offers courses on Georgia university campuses, and is a $20 million initiative backed by a public private partnership with plans to be self-sustaining in three years.
- Wayfair announced in November 2018 it will open a $45 million distribution center and create 1,000 jobs in Savannah.
- Korea’s SK innovation announced in November 2018 it will invest $1.67 billion and create 2,000 jobs at a manufacturing facility in Jackson County.
- PVH announced in March 2019 a $77 million distribution facility and 575 new jobs in Palmetto.
- Invesco announced in May 2019 500 jobs and a $70 million expansion of its global headquarters in Atlanta.
- GE Appliances announced in June 2019 a $130 million expansion and 300 new jobs.
- Online personal styling service Stitch Fix announced in July 2019 it will open a new distribution center and create 900 jobs in Lithia Springs.
- Amazon announced in July 2019 it will open a new fulfillment center and create 1,000 jobs in Gwinnett and DeKalb counties.
18 Fortune 500 companies headquartered in state, including:
United Parcel Service
“Amazon has found an outstanding workforce, strong local support and incredible customers in the state, and we look forward to creating 1,000 new, full-time jobs with industry leading pay and benefits on day one.” —Roy Perticucci, Vice President of Customer Fulfillment, Amazon
“In selecting Gwinnett County for our national headquarters, we believe we can support OS National’s explosive growth and strategic expansion efforts across the U.S. We recognize the county’s efforts providing businesses excellent options for growth and helping to grow a rich and diverse talent pool for the future.” —Jamie Wunder, Managing Partner, OS National
“We’re excited by the opportunity to build on our 40-year presence in the city and meaningfully expand our local team to nearly 1,200 professionals, which will enhance our ability to meet client needs here in Atlanta and across the globe.” —Martin L. Flanagan, President and CEO, Invesco