Annual Report: FY2011 Brought Us Jobs, Tourists, and Movie Stars

Welcome to 2012! We here at GDEcD are excited to take on the new year – we’ve got lots to do, and lots to look forward to! First up: the Annual Report. Have you ever wondered about the nature of the projects GDEcD manages, or about their economic impact on the state? This year’s Annual Report, which covers fiscal year 2011, is available online at www.georgia.org/annualreport, and it has all the answers. We are happy to point out that the past year has seen record-breaking numbers and a reasonably significant economic bounceback for our state. For those of you who prefer the short version: you’re in luck! Following are some of the highlights of fiscal year 2011: The Global Commerce team helped companies who invested over $4.39 billion and created 22,022 jobs in Georgia. Expansions of existing Georgia businesses led the way, accounting for 69 percent of new jobs and 74 percent of the total investment. The International Trade team helped Georgia companies close 265 trade deals in 37 countries. The department also assisted with three-Governor led business missions to seven countries, resulting in, among other announcements, a new U.K. Trade and Investment office in Atlanta. Georgia tourism generated over $1.56 billion in state and local tax revenue and the travel industry generated over $21 billion in tourist expenditures, an 8.3 percent jump from the previous year. International tourists are increasingly drawn to Georgia, ranking our state as the 4th fastest-growing destination in the U.S. Domestic travelers are not far behind, ranking 8th for spending by domestic travelers. Georgia’s entertainment industry saw a record investment with more than $689 million in direct spending throughout the fiscal year. The state’s 327 productions had an economic impact of $2.4 billion. Various entertainment-related companies have expanded or relocated to Georgia in order to support the growing demand of film, entertainment and digital services brought about by the Film Tax Credit program.Panavision Cameras reopened in Georgia after a 23-year absence and EUE Screen Gems completed the construction of a new soundstage – the third largest east of California. Take a moment and look through the FY2011 Annual Report. We hope you find a way to grow your business with our help!

Team GDEcD

Contact GDEcD

For more information on Georgia’s public-private business partnerships, contact the Georgia Department of Economic Development at 404.962.4000.

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