News Summary
Georgia has been recognized as the best place for business for the 12th consecutive year, as reported by Area Development Magazine. The state has supported numerous facility expansions and new locations, leading to significant investments and job creation. However, challenges remain in infrastructure and the housing market, requiring attention to sustain this economic growth. Efforts to improve local conditions are underway, though funding constraints may pose challenges in the future.
Atlanta, Georgia – For the 12th consecutive year, Georgia has been recognized as the best place for business by Area Development Magazine. This accolade underscores the state’s ongoing dedication to excellence and collaborative economic development efforts. Governor Brian Kemp highlighted that this ranking reflects Georgia’s success in fostering a pro-business environment.
Between July 1, 2024, and June 30, 2025, Georgia’s Global Commerce team has supported a total of 423 facility expansions and new locations. These developments are significant, with a projected investment of over $26.3 billion and the creation of approximately 23,200 new private-sector jobs within the next few years. Such growth is a testament to the state’s robust economy and favorable business conditions, which have spurred a population increase of nearly 13% from 2010 to 2022.
The state saw a surge in tourism as well, achieving a record 174.2 million domestic and international visitors in 2024, marking an increase of nearly 4% from 2023. This influx of tourists contributed a significant $45.2 billion to the local economy, further establishing Georgia’s status as a thriving economic hub.
Despite these achievements, Georgia faces pressing challenges concerning its infrastructure and housing market. According to the American Society of Civil Engineers, Georgia’s overall infrastructure grade is C+. Specific grades reveal areas needing attention: drinking water received C+, roads C+, dams D+, and transit D. Atlanta itself ranks among the cities with the eighth worst traffic in the nation, causing drivers to lose an average of 65 hours annually due to delays, costing each driver approximately $1,164 per year. Furthermore, there has been a 16.9% increase in per capita miles driven in Atlanta from 2019 to 2024.
In tandem, Georgia is grappling with an acute housing shortage, currently facing only a four-month supply of homes for sale. The median home sale price has soared above $390,000, starkly higher than the $234,000 median noted in January 2020. Homes are now on the market for an average of 58 days, which is 14 days longer than the previous year. This situation complicates efforts to attract skilled talent and investment, with difficulties stemming directly from the housing market and infrastructure challenges.
To tackle these issues, proposed solutions include curtailing local building moratoriums and reducing fees associated with new construction to stimulate development. However, major infrastructure projects may require taxpayer funding, a factor complicated by stagnating state tax collections, which saw only a 0.1% increase from the previous fiscal year. Governor Kemp has indicated that state agencies should not anticipate funding increases, stressing the need for a conservative budgeting approach in upcoming years.
As Georgia maintains its position as a preferred destination for businesses, the state must address the pressing infrastructure and housing challenges to ensure sustained economic growth and continue attracting investments in the future.
Deeper Dive: News & Info About This Topic
- Northwest Georgia News: Infrastructure & Housing Challenges
- Savannah Business Journal: Economic Monitor Report
- Business Wire: Equipment Share Expansion in Georgia
- Rough Draft Atlanta: Georgia as Top State for Business
- AJC: Record Economic Development in Georgia
- Wikipedia: Economic Development
- Google Search: Georgia Infrastructure Challenges
- Google Scholar: Georgia Economic Development
- Encyclopedia Britannica: Economics
- Google News: Georgia Tourism 2024
Author: STAFF HERE SAVANNAH WRITER
SAVANNAH STAFF WRITER The SAVANNAH STAFF WRITER represents the experienced team at HERESavannah.com, your go-to source for actionable local news and information in Savannah, Chatham County, and beyond. Specializing in "news you can use," we cover essential topics like product reviews for personal and business needs, local business directories, politics, real estate trends, neighborhood insights, and state news affecting the area—with deep expertise drawn from years of dedicated reporting and strong community input, including local press releases and business updates. We deliver top reporting on high-value events such as Savannah Music Festival, St. Patrick's Day Parade, and Savannah Jazz Festival. Our coverage extends to key organizations like the Savannah Area Chamber of Commerce and United Way of the Coastal Empire, plus leading businesses in aerospace, education, and logistics that power the local economy such as Gulfstream Aerospace, Savannah College of Art and Design, and Colonial Group. As part of the broader HERE network, including HEREAtlanta.com and HEREAugusta.com, we provide comprehensive, credible insights into Georgia's dynamic landscape.