Peach Tree Times

Governor Brian P. Kemp, in collaboration with the Georgia Department of Economic Development (GDEcD), announced another year of sustained momentum for business recruitment and expansions in Fiscal Year 2024. Between July 1, 2023, and June 30, 2024, GDEcD’s Global Commerce team supported 429 facility expansions and new locations resulting in more than $20.3 billion in investment and the commitment of 26,900 new private sector jobs statewide.

Further delivering on Governor Kemp's promise to prioritize growth in rural Georgia, 83% of expansions and new locations are headed to communities outside the 10-county Atlanta region, representing more than 18,300 new jobs and $12.5 billion in investment.

“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,” said Governor Brian Kemp. “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.”

Metro Atlanta also continues to support the state’s overall economy as a logistics and business hub, attracting nearly $7.8 billion in investments. Statewide, new locations account for $12.8 billion in investments while expansions are responsible for creating 9,800 new jobs.

"Today's announcement highlights the great work we are doing in Georgia to expand business opportunities across the state," said Lt. Governor Burt Jones. "As we build on this great momentum, we have to ensure that businesses coming to Georgia or expanding their footprint have the necessary workforce."

“The House has been proud to work alongside Governor Kemp and our colleagues in the Senate to continue our sustained economic development success,” said Speaker of the House Jon Burns.

During FY2024, Governor Kemp led economic development missions to Korea and Switzerland focused on strengthening relationships with key investors like Hyundai Motor Group as well as promoting Georgia as a premier destination for business.

“Georgia's strong partnerships and diverse industry landscape are major advantages for our businesses,” said GDEcD Commissioner Pat Wilson.

The State of Georgia celebrated over 50 years of continuous representation in Europe and Japan during FY2024 while marking nearly four decades of presence in Korea.

“Georgia has an incredible story from its foundations in agribusiness and manufacturing,” said GDEcD Commissioner Kristi Brigman.

Manufacturing sectors accounted for over half of expansions or new locations during FY2024 with notable projects including Kia Georgia’s addition of EV9 production lines among others.

Investments totaling more than $1.3 billion were made into food processing and agribusiness sectors with companies like Yakult locating operations within Georgia.

Technology hubs created at least 4,400 new jobs due to various wins including Cargill Corporation establishing a new office hub within Atlanta city limits.

Georgia achieved significant accolades during FY24 including being ranked No.1 state for business by Area Development magazine for ten consecutive years among other recognitions.

For further details on state-announced economic development projects visit georgia.org/newsroom.