Georgia sets new records for investment, job growth

ATLANTA — 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, Aug. 10.

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] top-ranked 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.”