Georgia, also known as the Peach State, has been an attractive location to start or grow a business for many years. This is driven by the access to ports, rail, large international airport, and robust shipping options. In fact, the large workforce has been growing in recent years at a rate of 2.7% annually. Other indications of growth include the 7.8% increase in residential construction and the $9B invested in commercial development. While the business climate is certainly favorable, there are many variables to consider. To help business owners and managers, a brief overview of doing business in the state is outlined below.
Georgia Economic Profile
The state’s economy is comprised of newly established and mature enterprises serving several industries. There are 284,862 businesses located in Georgia with a total workforce of 10.6M. The top industries by GDP include real estate, rental, and leasing, manufacturing, finance, insurance, and wholesale trade. Business ownership is diverse with 45.8% being women-owned, 7.8% veteran-owned, and 35.9% owned by racial minorities. In addition, Georgia has been named a Top State for Doing Business for seven consecutive years.
Georgia Business Incentives
There are several tax incentives offered to businesses located in, or expanding to, the state. Eligibility depends on several factors including industry focus and employment practices. The programs include the Jobs Tax Credit, Pre-Manufacturing Tax Credit, Research & Development (R&D) Tax Credit, Retraining Tax Credit, Child Care Tax Credit, and the Mega Project Tax Credit.
Georgia Business Resources
- Starting a Business in Georgia
- Business Guide – Georgia Secretary of State
- Atlanta COVID-19 Guidance for Employers
- Global Atlanta
- Small Business Administration – Atlanta (GA)
- Small Business Development – University of Georgia
- Tax Consulting – Atlanta
- International Tax Compliance
- Georgia Business Valuations
Interesting Facts About Georgia
- Hartsfield International Airport is the largest in the world in terms of the total number of passengers handled each year.
- The first telephone service was started in the state.
- The cotton gin was invented in Georgia in 1793.
- Georgia is home to the oldest state park in the nation.
- Coca-Cola was invented in Atlanta.
Contact Us
There are many advantages to doing business here. If you have questions about a specific issue or simply need assistance getting established Windham Brannon can help. For additional information call us at 404-898-2000 or click here to contact us. We look forward to speaking with you soon.