Record-breaking fiscal year for jobs, economic investment in Georgia

Image by Stephen Fowler // GPB News

Just months before the election, Governor Brian Kemp declared that Georgia’s economy had another record year. In his annual State of the State address, Kemp discussed the record number of jobs created last year, which he said were boosted by the state’s electric vehicle (EV) factories.

He highlighted the state’s recent successes in attracting new EV plants — Rivian and Hyundai — which he said will create thousands of new jobs outside the metro Atlanta area. He also noted the state’s low unemployment rate and said Georgia is a leader in attracting new businesses. Georgia’s unemployment rate is below 3% for the first time in state history. Kemp noted that Georgia’s EV factories have created more than 9,000 jobs and that the state is on track to have more than 60,000 EV-related jobs by 2025. He also said the EV industry the country’s EV is attracting investment around the world and that Georgia is poised to become a global leader in the EV market. It is clear that businesses have confidence in Georgia’s economy and future.

Country reported 51,132 private sector jobs have been recruited, amounting to $21.2 billion in promised investment. In fact, the record year was 94% higher for investment and job creation than 2021. Overall, economic performance increased by 53%. The Republican governor, who spoke of the achievement as he seeks a second term against Democrat Stacey Abrams, said it was a new record.

He announced that investment almost doubled from the previous record and jobs increased by more than 50%. Kemp has implemented several new initiatives, including a $2,000 raise for teachers and a $5,000 tax credit for state employees. Since taking office, Kemp has delivered 120,000 new jobs and $43 billion in investment. “If someone wants to suggest that we’re not providing jobs and opportunity for everyone in the state, they need to get their facts straight before they comment on things they just don’t understand,” Kemp said. “Numbers are not like politicians, they don’t lie.”

Stacey Abrams, Kemp’s Democratic opponent in the upcoming election, commented that the tax increase is unnecessary because of the future successes and growing expectations of Georgia’s leaders. Still, she credited Democrats for sealing the EV factory deal — not Kemp and his office.

This record year is a testament to the hard work of Georgia’s citizens and the commitment of its leaders to create an environment conducive to job creation and investment. Of course, this contrasts with Kemp’s disapproval of the Inflation Reduction Act that passed the Senate last week. The governor believes the law will have negative consequences, including increased taxes and subsequent inflation rates.

Kemp’s REMARKS comes as the state prepares to welcome the Rivian EV plant an hour east of Atlanta and the Hyundai EV plant near Savannah, expected to open in late 2024 and 2025. 15,000 jobs and more than $10 billion in promised investment are tied with new electric vehicle plants planned by Rivian Automotive and Hyundai Motor Group. Georgia has offered more than $3 billion in incentives to Hyundai and Rivian alone.

Kemp said the state’s success is due to its pro-business policies and commitment to workforce development. He said the state will continue to invest in these areas to keep the economy strong.

Georgia Governor Geoff Duncan (R)

Positive remarks also come from Governor Goff Duncan, as he noted, “I am grateful to Governor Kemp for continuing to prioritize creating high-quality jobs and strengthening Georgia’s workforce to further cement our reputation as the best state in the country to do business in.”

Under Governor Kemp’s leadership, Georgia became the number one state in the nation for business in 2021, according to Area Development. This success translates into more opportunities for our families and communities.

“Our success means hardworking Georgians have every opportunity imaginable to succeed, and that’s what drives our efforts day in and day out,” Kemp said in a statement.

Georgia’s success in FY22 it is a model for other states to follow and it is clear that the state is on the right track for continued economic growth and prosperity.

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