Savannah Business News
BUSINESS NEWS
Local Couple Starts New Chapter in Luxury Savannah Penthouse
News Summary Joellen Cooper-Pyles and Victor Deen have moved into a luxury riverfront condo at The Mayors in Savannah’s Upper East River neighborhood. As the first residents of the newly...
Savannah Music Commission Established to Boost Local Scene
News Summary State Representative Carl Gilliard has been appointed to the Savannah Music Commission, which aims to promote the local music scene. The commission focuses on music education, supporting venues...
University of South Carolina Beaufort Plans New Sports Complex
News Summary The University of South Carolina Beaufort is moving forward with the Sand Shark 20/20 project, aiming to construct a new sports complex estimated to cost between $60 million...
Savannah Airport Expansion to Enhance Passenger Experience
News Summary The Savannah/Hilton Head International Airport is set to undergo a significant expansion to accommodate growing air travel demand driven by tourism. The project, which includes adding four new...
Element by Westin Savannah Midtown Opens Doors
News Summary The Element by Westin Savannah Midtown has officially opened, enhancing the city’s hospitality scene. The grand opening featured a ribbon-cutting ceremony attended by community leaders. Known for its...
Savannah Zoning Board Approves Duplex Variance
News Summary The Savannah Zoning Board of Appeals approved a significant variance for a duplex at 1019 West 35th Street amid concerns about compliance with zoning laws and building permits....
Savannah News Roundup: New Appointments and Achievements
News Summary Savannah is witnessing significant changes as new appointments are made across various organizations. Key highlights include the hiring of Zach Vieth as HR Coordinator at Thomas & Hutton,...
Savannah to Celebrate 25th Annual Earth Day Festival
News Summary Savannah will host its 25th Annual Earth Day Festival at Daffin Park, featuring nonprofit exhibits, eco-conscious vendors, and hands-on workshops. The free event encourages community engagement and focuses...
Parker’s Kitchen Donates $1 Million for Homeless Resource Center
News Summary Parker’s Kitchen has pledged $1 million to Union Mission for the creation of a new Resource Center for the homeless in Savannah, Georgia. Located in a former Family...
Finance
JLL Capital Markets Finalizes Sale of Class-A Distribution Facility
News Summary JLL Capital Markets has announced the sale of the NFI Distribution Center Savannah, a 1,026,606-square-foot Class-A facility in Rincon, Georgia. The property, sold by Becknell Industrial and Goldman...
Savannah Sees Marginal Rise in Unemployment Rate
News Summary The Savannah Metropolitan Statistical Area has experienced a rise in the unemployment rate to 2.9%. Despite a slight year-over-year improvement, the labor force and employment figures have declined....
Calls for Minimum Wage Reform in Georgia and South Carolina
News Summary The job market in Georgia and South Carolina faces challenges as rising living costs prompt calls for minimum wage reforms. Despite a stable unemployment rate, wage growth is...
Savannah’s Management Job Market Sees Growth Amid Changes
News Summary Savannah is experiencing a notable increase in management job opportunities driven by recent market evolutions and targeted hiring initiatives. Despite challenges faced by management roles, new hiring efforts...
Savannah Unemployment Rate Declines Amid Labor Market Changes
News Summary Savannah, Georgia has reported a decrease in its unemployment rate to 2.6% in April, although the labor force contracted with fewer individuals employed. The area saw a rise...
Savannah’s Small Business Week Highlights Local Entrepreneurs
News Summary Savannah celebrated Small Business Week with events supporting local entrepreneurs, including the GRIT Pitch competition where startups competed for $5,000 in prizes. Bradley Wilkerson’s MacroText won first place,...
Savannah Metro Economy Sees Growth in Q4 2024
News Summary The Savannah metro area’s economy has rebounded in the fourth quarter of 2024, posting a growth of 0.5%, translating to an annualized rate of 2.1%. Contributing factors include...
Savannah Metro Economy Shows Signs of Recovery in Q4 2024
News Summary The Savannah metro area has experienced economic recovery in Q4 2024, according to Georgia Southern University’s Economic Monitor. Key indicators show a 0.5% business index increase, falling unemployment...
Fifth Third Bank Welcomes New Commercial Relationship Manager
News Summary Fifth Third Bank has appointed Matthew Ambrosy as the new Commercial Relationship Manager in Savannah. Bringing extensive banking experience, including previous roles at Chase and Great Oaks Bank,...
CONSTRUCTION
Georgia Ports Authority Reports Record Growth
News Summary The Georgia Ports Authority has announced record growth in container handling, moving 5.7 million twenty-foot equivalent container units, marking an increase of 8.6%. The Port of Savannah experienced...
Georgia O’Keeffe Museum Launches Expansion Plans
News Summary The Georgia O’Keeffe Museum is set to undergo a significant expansion to accommodate its growing visitor numbers, reflecting rising interest in the artist’s work. Unique design elements will...
Ten Students Graduate from Electrical Lineworker Program
News Summary Ten students graduated from the Electrical Lineworker program at Georgia Northwestern Technical College, reflecting the program’s success and growing demand. The ceremony celebrated their achievements and awarded certificates...
Georgia PSC Approves Major Renewable Energy Plan
News Summary The Georgia Public Service Commission has approved a comprehensive renewable energy plan mandating Georgia Power to produce 6,000 MW of renewable energy by 2031. The plan includes provisions...
Redevelopment of Baptist Collegiate Ministries Begins at UGA
News Summary Construction has commenced on a $67 million redevelopment project for the Baptist Collegiate Ministries at the University of Georgia. The new eight-story facility will feature 243 student apartments,...
Brunswick Prepares for New Buc-ee’s Travel Center Opening
News Summary Brunswick, Georgia is set to open a new Buc-ee’s travel center, marking the third location in the state. Scheduled to debut earlier than anticipated, this 74,000 square-foot facility...
Georgia Enacts Legislation for Hurricane Relief and Support
News Summary Governor Brian Kemp has signed important legislation aimed at assisting forest landowners and rural communities affected by Hurricane Helene, which caused over $1.28 billion in timber damages. The...
Georgia Power Begins Construction on Major Battery Storage Projects
News Summary Georgia Power has initiated construction on new battery energy storage systems totaling 765 megawatts across four counties in Georgia. These projects aim to enhance the reliability of the...
Georgia’s Job Market Sees Positive Trends in Unemployment Claims
News Summary Georgia’s unemployment benefits filings dropped last week, signaling a positive trend in the state’s job market. With new claims decreasing to 4,634, Georgia’s job growth remains robust, with...
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Real Estate
Samsung Invests in Georgia’s Industrial Real Estate for EV Growth
News Summary Samsung’s property fund is investing heavily in Georgia’s industrial real estate, focusing on locations near key electric vehicle factories. The acquisition of a 151,200-square-foot facility in Calhoun highlights...
Georgia Businesses Face Challenges from Tariff Policies
News Summary Businesses in Georgia are encountering mixed impacts from recent tariff policies in the U.S. While some like Highland Forge thrive due to domestic sourcing, others such as Bamblu...
Georgia’s Rise as a Cryptocurrency Hub
News Summary Georgia is positioning itself as a leading destination for cryptocurrency innovation, with favorable regulations and tax incentives aimed at attracting startups and investors by 2025. Despite not classifying...
Georgia Lawmakers Consider Legalizing Gaming Options
News Summary Georgia lawmakers are debating the legalization of sports betting, casino gambling, and horse racing. A bipartisan committee is exploring the potential economic benefits and social costs associated with...
Georgia Faces Critical Housing Crisis and Rising Absenteeism
News Summary Georgia is confronting a severe housing crisis marked by a significant shortage of affordable rentals and escalating absenteeism in schools. The poverty rate in the state is 14%,...
Georgia Senate Committee Formed to Consider Income Tax Elimination
News Summary Lt. Governor Burt Jones has established a new Georgia Senate Committee aimed at exploring the potential elimination of the state’s income tax. The committee will comprise 11 members...
EBRD Secures $10 Million Financing for Crystal Microbank in Georgia
News Summary The European Bank for Reconstruction and Development (EBRD) has announced a $10 million financing package for Crystal Microbank in Georgia. This funding aims to bolster private-sector development and...
EcoSlay Founder Transforms Hair Care with Sustainable Practices
News Summary Adria Marshall of EcoSlay has turned a homemade hair care passion into a successful business, growing sales significantly and prioritizing sustainability. From initial struggles, a viral moment propelled...
Home Prices Surge to New Heights in Georgia
News Summary Georgia’s real estate market is witnessing a significant surge in home prices, with increasing mortgage rates posing challenges for potential homebuyers. Factors such as location and property condition...
