Invest Atlanta released today its mid-year update on economic and community development efforts. The organization’s mid-year progress reflects achievements and celebrates Invest Atlanta surpassing its job creation goal for 2015. 

“Atlanta’s business climate is in the best shape it has been in since the Great Recession,” said Mayor Kasim Reed. “2014 was a banner year for our city, and 2015 looks to be an even stronger year for job creation and our economy. By recruiting new business headquarters and corporate expansions, we ensure that Atlanta remains the dominant economy of the Southeast.”

Invest Atlanta’s 28 business wins from January to June 2015 have contributed to the creation of 6,320 jobs exceeding the agency’s 6,100 job creation goal for the year. Major business wins that have added to this success include Kaiser Permanente, NCR, Sage North America, and Worldpay. As of June 2015, the total economic impact generated exceeds $2.275 billion.

“Key to this success is that companies seeking to make solid business decisions that positively impact growth have chosen Atlanta. And because they do, our returns are a huge win for all Atlantans. For every $1 Invest Atlanta disburses in order to catalyze growth, we have returned nearly $13 in private, capital investment made by companies that are creating jobs in our city. More tax revenue means more police and firemen can be hired, and more parks and libraries can be established for all Atlantans. Just last year, tax revenue to the city from capital investment was $10 for every $1 of the City’s allocation to Invest Atlanta,” said Craig Richard, president and CEO of Invest Atlanta.  “All indicators show that we are winning on that front and you don’t have to look far past the number of company relocations and expansions to understand that.” 

This year, total community development projects from January to June increased nearly 4 times over the number of projects during the same time in 2014. As of June 2015, 19 community development projects closed with $38 million in investment from Invest Atlanta compared to five projects closed with an investment of $10 million in the same time frame last year. Total capital investment in 2015 was $110 million ($93 million in 2014).

In 2015, Invest Atlanta’s New Market Tax Credits (NMTC) program, a federally-funded initiative aimed at attracting private investment to revitalize distressed neighborhoods and create jobs, started the year with a $50 million federal allocation. As of June 2015, Invest Atlanta has committed a total of $23.2 million to catalyze development in distressed communities.  This year, $12 million was provided to Grady Hospital for expansion and improvements to its emergency department. Another $11.2 million was awarded to the Flatiron Building for renovations enabling the historic building to become a gravitational center for entrepreneurship.

For more details on progress and programs, visit www.InvestAtlanta.com.