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May 2, 2022

Why Atlanta Is on Track for Tremendous Growth in 2022

If you have been thinking about moving your business to the Atlanta area, the time is now.

Inc. Magazine reported that Georgia boasts almost 40 of the fastest-growing, privately-owned companies in the country, with many headquartered in the heart of Atlanta. From 2018 to 2020, this diverse mix of Atlanta employers created more than 19,000 new jobs and experienced a 181-percent median growth rate.

The University of Georgia forecasts that the Peach State’s economy will expand 4.3 percent in 2022, compared with a national average of 4.0 percent. Over the next year, experts also predict that the state will add nearly 144,000 jobs, which would surpass the number of Georgians employed before the COVID-19 pandemic.

So, what’s causing this enormous growth?

Sizzling Startups

Atlanta is leading innovation across a broad range of industries throughout the technology sector. The city is quickly developing a reputation as one of the fastest-growing epicenters for technology in the Southeastern United States.

Georgia-based startups raised nearly $2 billion in venture capital during the first half of 2021, with Atlanta receiving the bulk of the capital, according to the Atlanta Business Chronicle. At Tech Square, over 30 innovators have made a home for themselves, including Delta Air Lines, The Home Depot, AT&T and Honeywell.

Why Tech Square, you may ask? Tech Square allows employers to access leading talent in the Atlanta metro, such as students from higher-education institutions including Emory University, Georgia Tech University, Georgia State University, Spelman College, Morehouse College, Clark Atlanta University and more.

Atlanta even has its own Tech Village, a startup community that claims to have helped more than 300 startups and created over 7,300 jobs.

Flourishing FinTech

While the COVID-19 virus spread, financial technology grew in popularity. Mobile banking and touchless payment options became popular ways for consumers and businesses to maintain social distancing in public, and cybersecurity services grew in popularity and importance.

As one of Georgia’s cybersecurity hubs, Atlanta is poised to benefit from this digital growth. The Atlanta region is home to the Georgia Cyber Center, which partners with nearby higher-education institutions to train students in cybersecurity and the cyber sciences. Similarly, Georgia’s FinTech Academy is one of a kind and attracts both companies and talent to the area.

Thriving Telemedicine

Because of the increased adoption of telemedicine technology during the pandemic, the healthcare IT and telemedicine industries have the potential to create thousands of jobs in Georgia over the next decade. Atlanta-based tele-health companies have become vital in meeting market demand and supporting the ongoing growth of the region.

High-Growth Headquarters

Data from Airports Council International shows that the Hartsfield-Jackson Atlanta International Airport is now the busiest airport in the world, surpassing China’s Guangzhou Baiyun International Airport. Easy access to Atlanta’s airport has made the metro exceedingly appealing to national companies relocating their headquarters.

In 2021, several national employers announced headquarter projects in Atlanta, including Vanderlande Industries, Hapag-Lloyd, Remington Firearms, Soliant, GCP Applied Technologies and GreyOrange — just to name a few.

Explosive Entertainment

While 2021 sent the film industry reeling in many regions, it not only grew in Georgia, but even set direct-spending records. The Georgia Entertainment Industry Investment Act has proven to be successful in driving growth in the region, with the film industry’s direct spending increasing from $93 million in 2007 to $4 billion in 2021. State incentives ensure that studio space and local talent alike stay booked and busy.

If your company is considering a relocation to the Atlanta area, Armstrong is here to help with your moving needs. We assist clients of all sizes with “white glove” moving services that will make the process seamless and stress-free. Start today by calling 770.368.0368 or requesting a free quote online

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