State Record-Breaking Jobs & Investment in FY2021
Friday, August 13th, 2021
Governor Brian P. Kemp joined the Georgia Department of Economic Development (GDEcD) to announce record-setting jobs and investments from economic development projects across the state during fiscal year 2021. Investments increased by 46%, while job creation increased 5% above prior state economic development records.
New investments totaled $10.97 billion, and 33,439 jobs were created in the state through 379 projects supported by GDEcD’s Global Commerce division between July 1, 2020, and June 30, 2021.
“In addition to the overall state of our economy, setting new economic development records during a global pandemic is further evidence that Georgia remains the No. 1 state for business,” said Governor Kemp. “By remaining open for business and working alongside local economic development partners and private sector business leaders, we've been able to create greater opportunities for hardworking Georgians and their families. We've also prioritized attracting key industries that bring quality jobs and investments to every corner of the Peach State. I'd like to thank Commissioner Pat Wilson and the best economic development team in the country for their hard work and dedication to make today's exciting announcement possible.”
Georgia’s international partnerships accounted for the creation of nearly $2 billion in foreign direct investment in the state. Twenty percent more jobs were created by foreign direct investments than during the previous fiscal year. Nineteen projects from Korea represent the highest job creation from a single country, and Swiss-based projects led in total investment. Businesses from Germany created the second-highest number of jobs during FY21.
“The pandemic reminded us of how critical our existing industry and international relationships are to Georgia’s economic success. We have had to think creatively and react innovatively in order to help businesses successfully locate and expand while continuing to attract key industries to the state,” said GDEcD Commissioner Pat Wilson. “Our full-service, seamless approach to doing business has proven to be a successful formula in securing new opportunities for Georgians. I want to thank Governor Kemp, the General Assembly, and our many partners for their tireless support.”
Seventy-four percent of new project locations and expansions took place outside of the 10-county metro Atlanta region, along with 69% of total investments. New locations and expansions outside of this area and in Georgia’s rural regions created 17,322 jobs across the state. Companies choosing to expand in Georgia accounted for 69% of total projects, and new locations were responsible for 57% of the jobs created.
Leading industries investing in Georgia included automotive, advanced manufacturing, software/technology, logistics and distribution, and food processing, which alone increased 232% in job creation over FY20. Additional strong gains in jobs and investments came from FinTech and digital media. Investments in headquarters reached nearly $93 million, an increase of 94% from the previous year, and jobs created by headquarters were up 281% from a year earlier.
“Our state’s target industries continue to provide new growth opportunities, and our numerous assets, including our diversity and overall workforce, make Georgia attractive to businesses of all kinds,” said Deputy Commissioner for Global Commerce Scott McMurray. “We’re incredibly proud to be able to share this good news in partnership with our sister agencies, communities across the state, and international partners.”
The Global Commerce division of GDEcD seeks to increase jobs and investment through locating and expanding businesses, as well as growing small businesses. The Global Commerce division includes statewide and existing industry project and research teams, small business support, and international representatives in strategic regions around the world.