Georgia’s “pro-business” environment is the product of state statutes, economic development practices and third-party endorsements. Here are just a few facts that illustrate how Georgia speaks business:
Low corporate taxes: Georgia was the first southeastern state to pass single-factor corporate tax apportionment. This legislation applies the 6 percent corporate tax rate only to the portion of income earned inside the state.
High bond ratings: Georgia is one of a handful of states to have the highest bond ratings (AAA) from all three major municipal bond rating agencies — Moody’s Fitch and Standard & Poor’s.
Top rankings: Year after year, Georgia ranks as a “top 10” state for business — by Forbes, CNBC, Site Selection and many others. Example: In fall 2011, a nationwide survey of location consultants named Georgia the 2nd best state in the U.S. for doing business.
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Corporate presence: Industry giants Home Depot, UPS, Coca-Cola and Delta Air Lines are just a few of the 31 Fortune 1000 companies that chose Georgia for their headquarters.
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Fiscal conservatism: State law mandates that Georgia continuously maintain a balanced state budget. And the state consistently maintains one of the nation’s lowest debt-per-capita levels.
Business development support: Georgia’s Department of Economic Development has industry experts and project managers whose sole responsibility is to help businesses expand. These professionals connect companies large and small to government and business leaders at home and abroad; represent the state’s industries at conventions and meetings worldwide; and provide a wealth of data and analysis to inform decision-making.
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Community leadership. The Georgia Department of Economic Development (GDEcD), Georgia Chamber of Commerce and dozens of other development agencies statewide assist businesses in communicating with communities, educating a diverse workforce, and promoting the growth of their industries.
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Economic development momentum: Launched in 2011, the Georgia Competitiveness Initiative is bringing together industry and government to further strengthen Georgia’s economic development strategy.
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