Google Spurs $4.68B in Economic Activity for Georgia
Thursday, May 11th, 2017
Google released its 2016 Economic Impact Report, detailing its $222 billion in economic activity across all 50 states and Washington D.C. last year.
The report also featured state-specific data, including information for Georgia. Last year, the tech giant helped produce more than $4.68 billion for the state’s economy — the ninth-highest among all 50 states and D.C. Google’s tools helped provide this activity for 42,000 Georgia-based businesses. The company also provided $11.3 million of free advertising to Georgia nonprofits through Google Ad Grants. More than 350 Georgians are employs full-time by Google at its Midtown and Austell offices.
Featured in the report is Atlanta-based venture capitalist and incubator TechSquare Labs. Founded in 2014 by Paul Judge and Allen Nance, TechSquare Labs is a 25,000-square-foot co-working space for entrepreneurs near Georgia Tech’s campus. With 120 employees, the company relies on the technology of today — including Google’s tools and resources — to help dream up the technology of tomorrow.
One way TechSquare Labs utilizes Google’s resources is through its partnership with Google for Entrepreneurs, which provides the company and its entrepreneurs access to shared workspaces in more than 20 cities across the world.
“Our partnership with Google for Entrepreneurs gave us a global footprint with physical facilities and resources,” said TechSquare Labs co-founder Allen Nance. “It effectively turned TechSquare Labs into a global business overnight.”
That’s just one example of how the company is utilizing the Internet to grow its business. TechSquare Labs also relies on Google AdWords to spike interest in their B2B activities and G Suite tools like Gmail and Docs for collaboration with global partners.
"Google has been an enormous part of the acceleration of our business model," said Nance. “With Google, we went from having two investments in the first year to 10 investments in the second year.”
So far, the 15 businesses TechSquare Labs has funded have created more than 500 jobs in the state of Georgia. And in 2017, they plan to continue spurring job growth in the Atlanta market by supporting 10 more ventures.
“The web is working for American businesses, and we’re continuously impressed by the extraordinary feats people can accomplish when they have access to information and the tools to put it to use,” says Mary Ellen Coe, President, Google Marketing Solutions.
“Whether we’re connecting businesses with customers around the world, enabling publishers to earn money from their online content, or helping nonprofits rally people in support of their mission, our search and advertising tools create opportunities for businesses — large and small — to grow and thrive.”
Atlanta-based companies MailChimp and Zyrobotics were also featured as part of Google's Economic Impact Report for Georgia.