Loading...Forbes Ranks Georgia No. 5 in Nation for Business
The state of Georgia jumped an impressive 10 spots to No. 5 in the nation in Forbes magazine's annual ranking of the best states for business.
"Virginia finished first for the third straight year," the magazine wrote July 31. "But Georgia is the real story, moving from 15th to fifth place. Georgia finished in the top 10 in four of the six categories we examined (economic climate, growth prospects, labor supply and regulatory environment). Just two other states, Virginia and third-ranked Washington, managed this feat."
U.S. and international companies -- and the skilled workers they need -- have been flocking to Georgia ever since the 1996 Summer Olympics in Atlanta, according to Forbes. The most recent catch was Asbury Automotive Group Inc. (NYSE: ABG), a member of the Fortune 500, which announced July 31 it will move to metro Atlanta from New York in September.
Thanks to such major relocations and strong expansion of existing businesses, the Peach State has experienced phenomenal job growth over the past several years and is expected to enjoy double the employment growth that the rest of the U.S. can expect over the next five years, the magazine noted.
Aiding the continued growth of the Southeast's largest and fastest-growing economy are Hartsfield-Jackson Atlanta International Airport, the world's busiest, and the Port of Savannah, the nation's fastest-growing -- as well as job training and tax credit programs that are among the best around, the magazine found.
Georgia's business climate also ranked No. 3 in the country in a recent survey of nearly 300 U.S. corporate executives by Development Counsellors International.
