Monday, December 06, 2010
Georgia: A great place for business
Originally published in the Atlanta Business Chronicle on 12/31/2010.
Georgia has a long and well-deserved reputation of being a great place to do business. We are a state built by visionary entrepreneurs who grew small companies into some of the world’s most recognized and successful brands. Ignited by the 1996 Olympics and anchored by our growing ports, world class airport and top tier research universities, our international presence has grown to include multinational corporations like KIA and Mitsubishi. From agribusiness to manufacturing to financial services, Georgia enjoys a broad employment base with great potential.
For all of our success, it is also true that Georgia has been hit harder than most of the country by the recent recession. While we have finally seen a sustained rise in state revenue figures, unemployment remains high and we face a long road to recovery.
So what can Georgia do to ensure as strong a rebound as possible, return confidence to both employers and consumers, and maintain our reputation as one of the best states in which to do business? The answer is simple. We must focus on improving our competitiveness. If we can make Georgia an easier place for small businesses to operate, for manufacturers to expand, and for companies to locate, we will in turn lower unemployment and restart our economy. To do this will require strong leadership, a clear vision and a dialogue between business and government in every corner of the state focused on building a competitive culture.
First and foremost, that culture will require government to maintain a pro-business environment. This includes ensuring that the state’s tax and regulatory structure as well as its judicial climate are fair, predictable and not overly burdensome.
It will also require the provision of reliable infrastructure. A comprehensive transportation system that allows for the efficient movement of products, employees and customers is critical to any company’s success. Georgia must focus on deepening its ports and improving connectivity via rail and road both within and between communities. Dependable access to sustainable, affordable and reliable water and energy resources is also a critical part of the equation.
Finally, and possibly more important than almost anything else, a truly competitive culture includes a strong pool of qualified, trained employees. Businesses need to be able to sustain production, grow product or service offerings, and plan for the future. We not only need to be able to guarantee this generation of employees, but a pipeline that will continue and ideally improve.
Our competition – both domestic and international - understands the critical role that tax structure, infrastructure and education play in economic development. So while we continue to work on these basics, we also need to consider how we can set ourselves apart.
That’s where innovation and quality of life come into play. Being innovative requires new, creative solutions to today’s problems as well as policies and programs that encourage entrepreneurs. Georgia is fortunate to be home to some of the nation’s finest research institutions and has been recognized as a dynamic, supportive location for technology and other new industries. We must continue to foster an environment that welcomes bright minds. And as for quality of life, no company is going to locate in a place where their employees and customers do not want to live. There are few states with such natural beauty and diverse cultural opportunities, all of which we should protect and grow.
Competitiveness, innovation and quality of life. Being focused on these three concepts both at the statewide level and within each of our communities will allow us to leverage all we have to offer as a state, grow our job base, and continue being one of the best places in the world to do business.
