Fulton Industrial Boulevard CID Generates $182 Million in Economic Impact
Thursday, April 4th, 2024
The Fulton Industrial Boulevard Community Improvement District (CID), the largest industrial corridor in the eastern United States, has released the findings of its 2023 economic impact analysis. With more than 1,000 businesses in the area, the Fulton Industrial district contributes approximately $182 million in public revenues each year to surrounding jurisdictions and the state of Georgia.
Through sales taxes, property taxes, hotel/motel taxes, income taxes, business licenses and other fees and taxes, nine entities receive approximately $182 million each year from economic activity in the area. The entities include Fulton County, the cities of Atlanta and South Fulton and the state of Georgia which receives the lion’s share at nearly $122 million.
“The district has more than 55 million square feet of industrial space, which is massive,” said Gil Prado, executive director of the CID. “Employment is another strong point as there are more than 26,000 primary jobs in the district. What's even more remarkable is that over 20% of Fulton County’s transportation, warehousing and manufacturing jobs are based in the district, plus more than 15% of all wholesale trade employment. This shows the district’s critical role in these sectors.”
When looking at the broader picture, the district supports over 77,000 jobs across Georgia, both directly and indirectly due to the economic activity generated in the area. The total regional economic output created by this employment is more than $31.1 billion which demonstrates the district's economic vitaliy and importance for the region and the state.
Key Economic Impact Analysis Findings
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$182 million in annual recurring public revenues to the state of Georgia and nine local entities, with top receivers being:
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$121 million to the state of Georgia
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$13 million to Fulton County
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$17 million to Fulton County Schools
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$13 million to the city of South Fulton
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$21 million in economic impact to the state of Georgia
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$50 million in annual property taxes to 10 jurisdictions
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$115 million in income taxes to the state of Georgia
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1,000+ businesses in the district
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26,000+ jobs in the district
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77,000 jobs supported statewide both directly and indirectly
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$2.1 billion in annual payroll
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$123 million in retail sales (in 2022)