Manufacturing Investment in Georgia is as Ripe as The Peaches
The State of Georgia is known for many things. It’s one the original 13 colonies, is the state with “Seven Natural Wonders”, has the first college for women in the U.S., and 18 Fortune 500 companies call the state home. But of most interest to us, is that a major portion of the state’s GDP is contributed to by the manufacturing industry.
The manufacturing industry contributes to 11.1% of the total output in the state, by employing 8.8% of the workforce. Total contribution in Georgia’s GDP was $54.82 billion in 2015. In addition, the manufacturing sector employed 373,700 people in 2015, with an average annual income of $67,365. The top three manufacturing industries in Georgia include food beverages & tobacco products, bringing in the substantial amount of $11 million. The transportation equipment & chemical industries boost the GDP by $9 million which means the economy benefits greatly from manufacturing with roughly $35.60 billion worth of goods exported to foreign countries from Georgia in 2015. In other words, exports from the manufacturing sector were 92.3% of the total exports of the state and helped Georgia to create around 21.3% of employment, or 209,071 people.
The automotive industry operates 250 facilities throughout Georgia while employing more than 18,000 workers. More than $9.5 billion worth of automotive exports is shipped through Georgia’s ports. Automotive manufacturing employment in Georgia is expected to grow by 11.9% by 2020 while vehicle body & trailer manufacturing are also projected to expand by 8.5%, with parts expected to increase by 8.1% respectively.
Mercedes Benz, the automobile luxury giant is planning to invest $74 million into Atlanta by moving its’ main office to the state. This move will generate at least 800 more jobs for Georgia.
The leading manufacturer of golf carts, Textron Specialized Vehicles Inc, is investing more than $40 million to build a new facility in Augusta. This investment will increase employment by 400 people in the state. The company markets its products under the E-Z-GO®, Cushman®, Bad Boy®, TUG™ and Douglas™ brands. The company currently employs more than 1,000 people in Georgia and has experienced an average annual workforce growth of more than 13% since 2010.
Porsche will assist in boosting the state’s superiority as an automotive giant even further by investing more than $100 million, when it shifts its’ headquarters to Atlanta. The huge 26.4-acre complex is going to need more than 400 new workers to staff.
A major chunk of the state’s workforce consists of employment from the automotive industry as we’ve detailed. Georgia is ninth in the nation for manufacturing. With giant automotive companies like Mercedes, Porsche, Honda, & Kia. Motors investing heavily in the state, employment in the automotive sector is getting a huge boost. With investment from the automotive industry, Georgia is ensuring maximum employment, driving its economy, and pushing the limits as a real contender in the nation’s economy.
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