Georgia Notches Second Straight Record Year for Business Investment

Georgia pulled in a record $35.2 billion in new business investment during the fiscal year that ended June 30, Gov. Brian Kemp and the state's Department of Economic Development announced this week. The state's Global Commerce team backed 436 expansion and relocation projects over the year, a total expected to generate about 25,300 new private-sector jobs. Expansions of companies already operating in Georgia made up the bulk of that activity — 79% of projects — bringing roughly 15,370 new jobs and $24.7 billion in investment to communities across the state. Officials also pointed to more than 90,000 existing jobs retained through continued support of in-state businesses. It marks the second consecutive record-breaking year for the state's economic development arm, building on a run of investment announcements Kemp's administration has leaned on as a signature achievement heading into the back half of his term. The announcement didn't break down investment by metro area, but Atlanta has historically captured an outsized share of the state's corporate relocation and expansion activity.