Georgia Department of Economic Development Georgia Department of - - PowerPoint PPT Presentation

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Georgia Department of Economic Development Georgia Department of - - PowerPoint PPT Presentation

Sep 14, 2023 753 likes •967 views

Georgia Department of Economic Development Georgia Department of Economic Development Ken Stewart Ken Stewart September, 2008 Commissioner Commissioner February 25, 2009 February 25, 2009 51 Post- -American World American World Post

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September, 2008

Georgia Department of Economic Development Georgia Department of Economic Development

Ken Stewart Ken Stewart

Commissioner Commissioner February 25, 2009 February 25, 2009

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Post Post-

  • American World

American World

  • I. Rise of the Western World
  • A. 15th Century
  • B. Produced “modernity” as we know it

Fareed Zakaria:

The Post-American World Tectonic Shifts

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Post Post-

  • American World

American World

  • II. Rise of the United States

1. Closing years of 19th century to mid-20th 2. U.S. most powerful nation since Roman Empire

  • III. Rise of the rest

1. Last 20 years: unprecedented growth 2. 2006 & 2007: 124 countries grew at 4% or more

Tectonic Shifts (con’t)

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Post Post-

  • American World

American World

World’s tallest building: Taipei (soon to be Dubai) World’s richest person: Mexican Biggest refinery under construction: India Richest investment fund: UAE Largest casino: Macao Largest shopping mall: Beijing

Look around:

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International Transformation International Transformation

Internationalization

  • Markets
  • Production (goods and services)
  • Economy

The point

  • All countries increasingly interdependent
  • World has changed: (Data, People, Goods)
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Georgia Georgia’ ’s Competitive Assets s Competitive Assets

  • United States is world’s largest marketplace
  • How Georgia fits
  • SE is the fastest growing region
  • GA is 4th fastest growing state
  • Hub of the SE
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Georgia Georgia’ ’s Competitive Assets s Competitive Assets

  • Logistics
  • Workforce
  • Tax & regulatory environment
  • International business connections
  • Quality of life
  • QuickStart, HOPE & Centers of Innovation
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Georgia Georgia’ ’s Business Environment s Business Environment

#1 in workforce training (Expansion Management) #1 in fiscal policies (Laffer Report) #3 in entrepreneurial activity (Kauffman Foundation) 4th best state to do business in (CNBC) 5th best state for business (Forbes)

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GDEcD GDEcD’ ’s s Role Role

Market & sell assets Demonstrate value attribution to companies Maintain favorable business environment for existing businesses (large & small) Foster unique public and private partnerships Measure: P&L is jobs, investment & positive trade balance

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GDEcD GDEcD Teams Teams

Global Commerce

new business investment existing industry small businesses international trade

Tourism Entertainment

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Global Commerce Global Commerce

Aerospace & other advanced manufacturing Advanced Communications Agribusiness Biosciences Energy Logistics & Transportation Banking & Finance

Strategic Industries

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Global Commerce Global Commerce

321 companies expanded or located

19,668 jobs (13.1% increase from FY07) $3.26 billion investment (17% increase)

67% expansions of existing GA businesses FY08 Successes:

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Global Commerce Global Commerce

Rural projects: 60% of all jobs, 56% of total investment 31% created by small businesses or entrepreneurs 16.5% international, BUT created 35.6% of the jobs & 33% of the investment

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Tourism Tourism

2007 direct travel expenditures increased 5.8 percent to $20.2 billion

Domestic expenditures up 5.3 percent International expenditures up 12.2 percent

Tax revenue up 5.7 percent Tourism employment up 2.6 percent 2008 Estimate – down 12 percent

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Film, Music & Digital Entertainment Film, Music & Digital Entertainment

HB1100 – Entertainment Incentive Act FY08 - 302 entertainment projects produced in Georgia

Economic impact of $470 million

10 major films, 10 TV series

New entertainment incentives drawing productions to all corners of GA

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Georgia Georgia’ ’s Assets for s Assets for Economic Recovery Economic Recovery

Diversified economy Strong relationships Competitive assets Economic development partners united in purpose Creative, proactive initiatives to take market share

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Georgia Georgia’ ’s assets s assets Single Factor apportionment

Sales & Use tax exemption Inventory tax exemption New entertainment industry incentives BEST legislation Other competitive incentives

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Georgia Georgia’ ’s Success Stories s Success Stories

Kia and suppliers Delta-Northwest merger VW site location in Chattanooga 2009 BIO International Convention Entrepreneur-Friendly Program

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Georgia Georgia’ ’s Success Stories s Success Stories

BRAC military base realignments Potential new U.S. Africa Command base Growth of ports; deepening of Savannah harbor New SEUS-Canada relationship Centers of Innovation

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Our Immediate Goals Our Immediate Goals

Keep Georgia front-of-mind worldwide Keep relationships strategic & fresh Knock on more doors and put more shoe leather on the street Now is the time to capture market share