Georgia sets new records for investment, job growth

New investment in Georgia topped $21.2 billion during the last fiscal year, with 358 projects creating 51,132 jobs, Gov. Brian Kemp announced Wednesday. The investment and jobs figures surpassed the state’s previous records by 94% and 53%, respectively.

“We are proud companies continue to recognize the advantages of Georgia’s business-friendly environment, superior logistics network, [and] topranked workforce training program,” Kemp said during a ceremony inside the Georgia Capitol. The two biggest economic development projects in Georgia history played a big role in the success of fiscal 2022. Electric-vehicle manufacturer Rivian, Hyundai Motor Group and 10 other automotive projects were responsible for nearly 16,000 of the new jobs.

With neither Rivian nor Hyundai located in the 10-county Atlanta region, 85% of the investments in the last fiscal year occurred in other parts of the Peach State.

Other sectors besides auto manufacturing that saw big investment and job gains were advanced manufacturing – including EV industry suppliers – bioscience and financial technology.

Foreign direct investment accounted for more than $8 billion. The top five sources were South Korea, Germany, Japan, France, and the Netherlands.

“No matter where your business is headquartered, when you decide to grow in Georgia, you become a Georgia company,” state Commissioner of Economic Development Pat Wilson said. “Georgia’s record-breaking numbers are the result of years of dedication to prioritizing the creation of high-quality jobs in every corner of the state.”

This story is available through a news partnership with Capitol Beat News Service, a project of the Georgia Press Educational Foundation.