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

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