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Economic Development In the News

In The News

November 5, 2018: Site Selection ranks Georgia's business climate No. 1 for sixth straight year

Gov. Nathan Deal today announced that Georgia's business climate has been ranked No. 1 in the nation for the sixth consecutive year by Site Selection, a leading economic development trade publication. According to Site Selection, Georgia is the first state to hold this ranking for six consecutive years under leadership by the same governor.

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September 20, 2018: Georgia named No.1 for 5 consecutive years

ATLANTA – September 20, 2018 –Gov. Nathan Deal today announced that Georgia has been named the No. 1 state for business for the fifth year in a row by Area Development, a leading corporate site selection and facility planning publication. Deal was joined by Area Development publisher and president Dennis J. Shea to make the announcement at the 2018 State of the Ports Address in Savannah.

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August 2018: Company Aims for New Heights in Cobb

An industrial conglomerate is bringing part of its elevator business and more than 800 new jobs to the Cumberland area, officials announced in July.

ThyssenKrupp leadership has announced the building of its new offices and an approximately 420-foot-tall quality control facility located on Circle 75 Parkway, near The Battery Atlanta in Cobb County.

“So many people from the state to local levels have worked hard to make this announcement happen,” Cobb Commission Chairman Mike Boyce said. “We welcome thyssenKrupp with enthusiasm, and they will soon learn why Cobb County is a place where you expect the best and can safely work, live, play and pursue your dreams.”

ThyssenKrupp already has offices in Marietta, Kennesaw and Acworth, but these facilities will represent a much larger investment in Cobb. They will bring an estimated 863 jobs to the county, with an average wage of $100,000. That’s an estimated capital investment of $264 million. The final completion date for this project is scheduled for winter 2020.

 ...Read Full Article

[source: CobbLine Monthly Newsletter]

July 20, 2018: Cobb entrepreneurs to benefit from grant

Cobb entrepreneurs and innovators may be eligible to receive portions of a $50,000 grant.

That money will be given by the Development Authority of Cobb County to support the new Entrepreneurship & Innovation Incentive Program.

“The purpose of this incentive program is to provide services, assistance and/or incentives to entrepreneurs and innovators who are in high-skilled fields to assist them in growing their business, creating jobs and maintaining their presence in the county,” wrote Cobb Community Development Agency Director Dana Johnson in a July 10 memo to Cobb County Manager Rob Hosack.

To qualify for this incentive program, a business must:

have participated in the IgniteHQ business incubator program or a program operated by an affiliate or partner of IgniteHQ, be a spinoff technology associated with the Georgia Tech Research Institute or have graduated from an entrepreneurial training program

be an existing business in Cobb County and

agree to remain in Cobb County for the three years after the expiration of the mandatory incentive agreement.

In partnership with Kennesaw State University, Cobb’s Competitive Edge and the Cobb Chamber, IgniteHQ at 57 Waddell St. SE, two blocks off the Marietta Square, “connects startups and entrepreneurs with international accelerators, funding opportunities and talent to scale globally,” according to the website at IgniteHQ.co. “We accelerate startups, cultivate job growth and provide market expansion resources in the Southeast.”

Companies eligible for the entrepreneurship and innovation incentive program may be eligible for services, assistance and/or a cash grant from the Cobb Innovation Fund.

[source: https://www.ajc.com/news/local]

March 5, 2018: Tourism Remains the Number One Economic Driver

Cobb County, Ga. — (March 5, 2018) — Travel and tourism continues to be an economic powerhouse for Cobb County, with $3.05 billion in economic impact and supporting more than 35,000 jobs in 2016. Tourism is the leading industry in Cobb and has significant economic impact.

A study, performed by Robert Lann Consulting, LLC, showed a 7.9% increase over the previous $2.8 billion in economic impact and a 15.8% increase over the previous 30,000 jobs. According to the Georgia Department of Economic Development-Tourism, tourism created $78.86 million in state tax revenues and generated $46.67 million for Cobb and its cities in local tax revenues in the last year. Each Cobb household would need to be taxed an additional $461 per year to replace taxes generated by tourism activity.

“I am thrilled to see an increase,” said Brooks Mathis, Chairman of Cobb Travel & Tourism. “As we work with our partners and showcase Cobb as a unique tourism destination, I believe we will continue to see our tourism industry flourish.”

According to the Bureau of Labor Statistics, for every $1 spent in one of the county’s hotel properties, $3 is spent in the community on dining, transportation, entertainment, and more. “Tourism continues to economically impact Cobb in ways that are undeniable,” said Holly Quinlan, President & CEO of Cobb Travel & Tourism.

“The unique diversity of what our county has to offer is one that is hard to beat,” said Quinlan. “Each day we see tourism transforming our community into a place that sets the standard for a viable and prosperous hospitality industry.” By the year 2020, tourism in Cobb is projected to have an economic impact of more than $4 billion.

[source: http://travelcobb.org]

January 28, 2018: South Cobb County a 'hidden secret' for area planners and development leaders

Subscribe to BizJournals.com to read this Article. 

[source: https://www.bizjournals.com/atlanta/news]

January 2018: Cobb County: Managing the Flow

Municipalities are increasingly turning to managed lanes to improve traffic flow and increase funding options. These solutions include high-occupancy vehicle (HOV), express, reversible and toll lanes. The 29.7 miles of managed lanes scheduled to open later this year along interstates 75 and 575 will continue to propel Cobb County as a desirable locale for business, education and play.  ...Read the Full Article

A comprehensive article highlighting Cobb County's transportation success, evolving and flourishing sports scene, economic development growth initiatives, top-rated Kennesaw State University, expanding cities and community improvement districts, transit and local gems.

[source: http://www.georgiatrend.com/]

January 19, 2017: Beverage distribution company seeking bonds for south Cobb project

CUMBERLAND — A Fulton County beverage distributor is asking the Cobb County Development Authority to issue up to $65 million in bonds to help them build a distribution center in south Cobb.

Officials with Empire Distributors, a wholesale distributor of alcoholic beverages throughout the Southeast, project to have more than 500 employees at the facility, which would be built on about 70 acres on Hartman Road near Factory Shoals Road.

Many of those positions would be relocated out of Fulton, but as many as 90 or more would likely be new hires.

Authority members on Tuesday approved an inducement resolution for the bonds. The resolution indicates that the authority is willing to issue the taxable revenue bonds, but Empire would have to come back before the authority and have a final bond resolution approved.

“The availability of this present bond issue being requested, as well as other economic incentives, are fundamental — factors to their decision to relocate and invest in this new facility,” said Tim Ramsey, an attorney who represented Empire at Tuesday’s authority meeting.

The facility would become the headquarters of the company, which is a wholly-owned subsidiary of Texas-based McClane Company, a worldwide supply chain company. The facility would be about 600,000 square feet, including about 50,000 square feet of office space.

It would be built within the South Cobb Enterprise Zone, an area created by the county in 2013 to spark new business development, existing business expansion and new jobs through tax breaks.

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[source: https://www.mdjonline.com/news]

December 15, 2017: Cumberland CID Unveils New Plans for $2.2 Billion Direct Investment through Community Development

Community Improvement District to implement infrastructure expansion with revitalization programs promising a $3.6 billion effect on Cobb County

 Atlanta, GA (December 18, 2017) – The Cumberland Community Improvement District (CID) released today Blueprint Cumberland 3.0, a set of revitalization programs focusing on access, connectivity and placemaking. Approaching its 30-year anniversary, CID leadership felt this milestone provided the opportunity to reflect on the development and growth the district has seen over the last three decades. Blueprint Cumberland 3.0, the culmination of a year-long study, refines the framework within which community projects are selected, designed and constructed to make the Cumberland area a more accessible and attractive place to work, visit and live. ... Keep Reading

[source: http://www.cumberlandcid.org]