Georgia Continues to Create New Jobs and Strengthen Economic Investments

Thressea Boyd

Tuesday, October 6th, 2015

Georgia continues to strengthen its economic growth and employment opportunities through the creation of new jobs. According to a press release issued by the Global Commerce division of the Georgia Department of Economic Development (GDEcD), a total of 26,951 new jobs were created and generated $4.75 billion in investment during FY15. 

The GDEcD release stated that the growth was “a result of the expansion or relocation by 329 companies including those in software and technology, aerospace, and food processing sectors.” 

The GDEcD release also noted that international projects had a significant impact in Georgia during FY15. “These companies accounted for 35 percent of the total investment and accounted for 27 percent of the new jobs announced by the GDEcD. The total number of jobs created by internationally-based companies grew 152 percent and Germany-based companies’ investment grew 15 percent.”

According to Eric Schimpf, managing director; South Atlantic Division Executive at Merrill Lynch, Georgia is able to recruit and retain national companies due to the state’s exceptional quality of life and education system, favorable economic environment and expansive transportation system.  

“Georgia is a great place to live, with a great cost of living and quality of life,” said Schimpf. “We also have an excellent workforce training program—Georgia Quick Start—that provides training for the skilled workers needed for the industries coming to Georgia.”

Schimpf said that Georgia is a viable option for business and industry growth from a tax standpoint and a strong employee base. 

“Georgia also has one of the best infrastructures in the country,” he said. “We know that we are a major rail hub and have an expansive highway system, plus the world’s busiest and most efficient international airport, as well as deep-water ports in Savannah and Brunswick. The infrastructure that these large international companies need is here and in one place. In all of these things, Georgia is world class, and I can imagine that these attributes make the decision to come to Georgia and Atlanta very easy.”

Providing the financial assets and services is also important in recruiting and retaining businesses in Georgia, especially international companies. 

Schimpf said that once a new business arrives—or begins the process to relocate or open a new business—in Georgia, he and the Merrill Lynch team can provide the needed financial structure.

“We will continue to reach out to international companies and make sure that we are maximizing every opportunity to expand the relationship we have with international businesses, while we also look to build new relationships,” said Schimpf, who has been with Merrill Lynch since 1994. “But clearly in my area of expertise, we can also provide support for small businesses here in Georgia. It is small businesses that will bring an engine of strong economic growth and job creation that will have an immediate impact.”  

Schimpf explains that Merrill Lynch offers a variety of products and services that allows small business employers to provide retirement savings programs, banking options, and relocation programs to their employees. 

“It is important to what I do every day to be able to reach the business owners in multiple ways, to make their lives easier so they can focus on what they need to do, and to continue to bring successful businesses and job creation to Atlanta and Georgia.”