The Leader - November/December 2008 - (Page 68)

T H E GEOR G I A R E P O R T : A TH R IVIN G STAT E FA CES CH A NG E S I N THE NAT I O NAL E CO NO MY Georgia the third best state in terms of entrepreneurial activity. As in the past, the state continues to look toward the future, too, courting international ﬁrms from Asia, Latin America and Europe, while assisting rural areas and small towns where globalization’s impact has been less kind. “We’re taking a strategic approach to economic development,” said Ken Stewart, commissioner of the Georgia Economic Development Commission. “It’s incumbent on us to focus where we have unique, sustainable advantages. It’s going to be different than how we’ve known it in the past in the U.S. “The U.S. economy will be greater than any other for many years, but we are increasingly interdependent,” Stewart continued. “We’re recognizing that and responding to it and really putting our money where our mouth is. That’s the future economy, and these are the relationships we need to foster in this increasingly interconnected world.” As the World Turns Globalization has skewered some Georgia industries, especially textiles and segments of manufacturing, but, ultimately, it’s far and away a net positive for the state. What’s more, it will play a key role in easing the pain of the current economic downturn and giving the state and Atlanta a head start as the overall economy eventually recovers. Globalization also has led to an inﬂux of not just offshore industry, but population as well, as metro Atlanta boasts burgeoning Chinese, Korean, Latin American and African populations and 65 consulates or trade ofﬁces. Here, again, Hartsﬁeld-Jackson plays an integral role. In the past year, non-stop service to China and India has begun, and non-stop direct service to Abu Dhabi and Dubai is scheduled to begin November 1. From only a handful of ﬂights ﬁve years ago, HartsﬁeldJackson now has 35 to 40 direct, daily ﬂights to Latin America, and only JFK in New York has more direct ﬂights to Europe. The airport’s and Atlanta’s central location creates oppor- tunities to attract U.S. headquarters of foreign ﬁrms seeking to serve transatlantic customers as well as North and South America. “Atlanta is truly the gateway to North America and more and more the gateway to Latin America,” said Hans Gant, senior vice president of economic development at the Metro Atlanta Chamber of Commerce. Over the past few years, Atlanta and state economic development efforts have reeled in two of the biggest prizes in the state’s history, a $1.2 billion Kia Motors plant in Troup County, southwest of Atlanta, and Wipro, an Indian high-tech ﬁrm that plans to employ 500 at its Atlanta software development center. For the past ﬁve years, Asia has received a heavy economic development emphasis, and nine ﬁrms from China alone have found a home in metro Atlanta over the past twoand-half years. Sany Heavy Industry Co. is investing $30 million over ﬁve years for its U.S. headquarters and a heavy equipment manufacturing facility that will employ 200 to 600 over the next decade in Atlanta’s south- S PEC IA L 2 0 0 8 T H E LE ADE R 68 NOVEMBER / DECEMBER

Table of Contents Feed for the Digital Edition of The Leader - November/December 2008

The Leader - November/December 2008 Leadership Contents Message from the CEO Real Estate in the News Leveraging Business Geography My Work @ Bank of America Blending the Old with the New A Tool for Growth Creating Real Estate Value Nokia-Siemens Networks’ Peter Doran DTZ’s James Maddock Annual Economic Development Directory The Georgia Report Location Profile: Magdeburg, Germany Linking Corporate Real Estate to the Enterprise 3rd Quarter 2008 Adding Value in Challenging Times Australia and New York Shell’s Paul Huston Economic Development in the News A Look Ahead In our Next Issue Calendar of Seminars Index of Advertisers Chapter Learning: The Global Perspective

The Leader - November/December 2008

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