Georgia records $21 million in state-subsidized economic projects

ATLANTA (AP) – Gov. Brian Kemp says Georgia recorded $21.2 billion in state-tracked business investment, with new and expanding companies pledging to create 51,000 jobs in the year ending 30 of June

The Republican governor, who is touting his accomplishments as he seeks a second term against Democrat Stacey Abrams, said it was a new record. Announced investment almost doubled from the previous record, while announced jobs increased by more than 50%.

“Our success means hardworking Georgians have every opportunity imaginable to succeed, and it’s what drives our efforts every day,” Kemp said in a statement.

In reality, many business investments and many new jobs never receive state incentives and are not tracked by the state, which has an annual economy of $683 billion. All advertised investments and jobs may not materialize.

Those totals included 15,000 jobs and more than $10 billion in promised investments tied to new electric vehicle plants planned by Rivian Automotive near Rutledge east of Atlanta and Hyundai Motor Group in Ellabell west of Savannah.

The Georgia Department of Economic Development counted 358 projects that earned state incentives. Beyond Hyundai and Rivian, the other projects promised $10.6 billion in investment and nearly 36,000 jobs.

Georgia has offered billions in incentives for the projects, more than $3 billion for Hyundai and Rivian alone.

The state says $18 billion of the investment and more than 30,000 new jobs were committed outside the 10 counties that make up the core of the Atlanta metro region. Kemp and other Republicans have focused on creating jobs in rural Georgia, saying they want to stimulate the economy. Rural Georgia is among the most Republican in the state.

Officials say Georgia’s economic strengths include Atlanta’s airport, the Port of Savannah and existing strength in logistics and distribution.

International companies announced more than 8 million dollars in investment. South Korea, led by Hyundai, was the top foreign investor, followed by Germany, Japan, France and the Netherlands.

Kemp has announced 120,000 new jobs and $43 billion in investments since taking over.


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