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Economic Development

Posted on: June 5, 2014

GEORGIA Expected to Outperform the National Economy in 2014

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Georgia — 8 to 15 Million Population Category
Building on a strong year in 2013, Georgia’s economy is expected to outperform the national economy in 2014.
-Area Development Magazine-

Thanks to a diverse economy that includes both traditional and knowledge-based industries, the state’s inflation-adjusted GDP is projected to grow 3 percent next year, with a 1.8 percent increase in jobs. The automotive industry is a key employer in the state. Almost one quarter of the East Coast’s automotive-related exports come from Georgia (valued at nearly $10 billion per year). Over the last few years, auto manufacturers have invested $5.2 billion in their operations within the state. Major manufacturers include General Motors, Honda, Kia, Porsche, and Toyota — all of which are supported by an expanding supplier network. For example, Inalfa Roof Systems, a provider of vehicle roofing systems, is building a $17.1 million manufacturing plant in Cherokee County, resulting in 300 new jobs. The facility will build components for major OEMs like Hyundai, Kia, Ford, General Motors, Volvo, Chrysler Group, and BMW Group.

Georgia is also well known for its IT sector. The state has one of the fastest-growing information-technology markets in the country, with nearly 200,000 workers. Recent announcements include digital media company Medient, which is developing a $90 million movie and game production facility in Effingham County, creating at least 250 jobs. AirWatch, a leader in mobility technology and security, is expanding its headquarters in Atlanta, creating 800 jobs and investing more than $4 million in new equipment. The expansion is scheduled for completion in 2015.

“We expect to double our size by combining innovative mobile technology and exceptional talent with the state’s economic development resources,” states AirWatch Chairman Alan Dabbiere. “AirWatch and other software companies are playing a critical role in attracting new businesses to the region and solidifying Atlanta as a leading technology player.”

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