Georgia businesses at threshold of international opportunities

ATLANTA, Jan. 23, 2007 - Georgia companies will have more opportunities than ever to sell their goods and services around the world, thanks to Governor Sonny Perdue's new 'Global Georgia' initiative. In his State of the State address, Governor Perdue highlighted the importance of international economic development to keep Georgia one of the fastest-growing states in the nation. The Governor recommended a 135 percent increase over last year's international marketing budget for the Georgia Department of Economic Development (GDEcD). 'Georgia is a full-fledged player in the global economy and we are committed to helping our businesses get the full benefit of the international relationships we continue to build,' said Governor Sonny Perdue. The $5.1 million, if passed by the legislature, would be used to aggressively explore new opportunities for Georgia businesses by expanding outreach to Asia, exploring the potential for a new office in India, and increasing trade and tourism with Canada. The funds would also strategically leverage the resources of the state's 11 international offices by allowing them to focus on more targeted businesses connections for Georgia's small- and medium-sized businesses, including in Central and South America. Additionally, the requested amount would fund five new GDEcD positions in international marketing to expand the scope of the state's work. 'The Governor's focus on a Global Georgia is timely and crucial,' said Ken Stewart, commissioner of the Georgia Department of Economic Development. 'We will aggressively and creatively find new ways to help our Georgia companies find new markets for their products and build solid relationships with companies throughout the world.' With an economy that would be the 17th-largest in the world if Georgia were a country, the state already has a rich array of assets that appeal to international business connections: • Georgia is the 4th-fastest-growing state in the nation and is situated at the geographic and logistical hub of the Southeast, offering easy access to world markets • 56 countries have consular, trade or bi-national chamber of commerce offices in the state • Georgia has longtime experience in helping international companies locate and expand in the state. More than 1,600 internationally-owned facilities representing 43 countries are already here, employing more than 120,000 Georgians and with an estimated capital investment of $19.7 billion • Georgia is the 13th-largest exporting state in the U.S., with $20.6 billion in exports in 2005 • The state is the home of international companies such as Coca-Cola, UPS and Delta • Georgia operates 10 international offices around the world and will open one in China in the next few months Some of Georgia's most recent international successes include: • International companies that contributed $4.3 billion last year in new investment - 24% of Georgia's new investment • Georgia's total world trade, which is increasing at a higher rate than the national average (14.9% vs. 14.2%). In 1996, Georgia's total trade was $27 billion; in 2005, $72.5 billion. • An increase in total exports by $5.9 billion - 41% - between 2001 and 2005 • Georgia exports to the 34 democratic countries of the Western Hemisphere (excluding Cuba) increased 8.2 percent from 2004 to 2005 • Bringing Kia's first U.S. automotive assembly plant to Georgia, with over 2,800 new jobs • Assisting 221 Georgia companies in 54 countries • Leading 31 international trade missions in 2006, more than double those in 2005 • Opening new offices in Brazil and France in the last 15 months and announcing one for China to open this year The Georgia Department of Economic Development (GDEcD) is the state's sales and marketing arm, the lead agency for attracting new business investment, encouraging the expansion of existing industry and small businesses, locating new markets for Georgia products, attracting tourists to Georgia, and promoting the state as a location for film, video and music projects, as well as planning and mobilizing state resources for economic development.