The state of Georgia is home to companies like Coca-Cola, UPS, Porsche, Mercedes Benz, Gulf Stream Aerospace, Pratt & Whitney, and Home Depot. In fact, Forbes ranks Georgia as the seventh best state for businesses. The pro-business climate, third best tax rating, and improved economy have together contributed to their being acknowledged for business.
The manufacturing industry employees around 373,700 workers while the state has the lowest manufacturing unionization rate of 5%. They host a highly-skilled workforce achieved through government programs such as the High Demand Career Initiative which provide 100% tuition fees for technical education in a high demand career area. Other factors, like producing low-cost electricity and sales tax exemption on energy, help fuel the economy and workforce.
In 2015, manufacturing provided $54.82 billion to Georgia’s overall GDP with manufacturing sectors like food & beverages and tobacco products bringing in a considerable amount to the tune of $11,975 million. Transportation equipment and chemical industries also play a huge role while contributing about $9,534 million.
With more than 800 companies in the state of Georgia, the aerospace industry is looking to expand its footprint. It employees 99,000 people throughout the state, contributing $8 billion to state exports. The aerospace industry ranks first place in total exports, accounting for 5.3% of the total GDP. Aerospace manufacturing contributes $64 billion to the economy overall and each job in aerospace supports an additional of 1.5 jobs in related sectors.
Pratt & Whitney will invest $386 million in its plant in Columbus, Georgia thereby adding 500 jobs to the economy. They currently employ 1200 workers. In addition to recent investments, the company teamed up with Columbus Technical College to provide aerospace mechanical and manufacturing training programs to prospective employees.
With an investment of $500 million and employing 1000 workers, Gulfstream Aerospace is expanding its operations in Georgia. This is the second significant expansion of the business in the last five years. In its’ latest development, Gulfstream created 1,100 jobs by investing $300 million and partnering with Savannah Technical College.
Through consistent investment, the aerospace industry is not only providing Georgia with wings which will allow the economy to soar, but by partnering with technical college’s, it’s ensuring they’ll keep flying high for quite some time.
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