ATLANTA – Today, the Georgia Chamber issued the following statement after Governor Brian Kemp outlined the need for lawsuit reform in his State of the State address.

Chris Clark, President & CEO of the Georgia Chamber said:
“Georgia’s imbalanced civil justice system threatens Georgia’s economic competitiveness and our long-term prosperity. That’s why the Georgia business community has worked for 25 years to restore balance to our civil courts, and we thank Governor Brian Kemp for his strong leadership to secure lawsuit reform. We look forward to partnering with the Georgia General Assembly to pass common sense lawsuit reform so we can do what is right for Georgia’s businesses and citizens by ensuring our courts are for justice—not jackpots.” 

At the 2025 Georgia Chamber Eggs & Issues Breakfast on January 14, Governor Kemp announced passing lawsuit reform is his “top legislative priority for the upcoming session.”

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(ATLANTA)  – The Georgia Chamber of Commerce issued the following statement on the passing of former President Jimmy Carter.  

Chris Clark, President & CEO of the Georgia Chamber said:  

“The business community mourns the passing of our friend, President Jimmy Carter. Few people will ever match his contributions to world peace, civil rights, and global public health or his inherent humility and servant heartedness."

“During his time as Governor he laid much of the groundwork for Georgia’s current economic success. Under Governor Carter’s leadership, Georgia established international economic development relationships that continue to enhance Georgia’s importance in the global marketplace, and he established the Georgia Film Commission in 1973 which helped make Georgia the number one state in the country for film and television production."

“While President Carter’s contributions to Georgia and the world are many, he would likely say his most worthy accomplishments were his devout faith in God, 77 years of loving marriage to Rosalyn, and being a devoted family man. The Georgia Chamber joins the Carter family and the entire world in mourning the loss of President Jimmy Carter.”

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By Chris Clark, President & CEO, Georgia Chamber of Commerce

Georgia is an economic success story. In every region, new businesses are opening, and global brands are expanding operations. Many factors made Georgia’s economic success possible including our world-class workforce, exceptional logistics, and sound political leadership. Our success is also fueled by safe, affordable, resilient, and reliable power sources.

Georgia has that because of the strong relationships that the Georgia Chamber maintains with the Public Service Commission and our utility providers. Georgians know that when we turn on our TVs, we can watch Team USA win gold medals in Paris. When storms like Debby roll through, Georgians take comfort knowing any disruptions will be minimal. And when we open our power bills, we have confidence that the state’s electric utilities are investing for the future, while keeping customer affordability top of mind. Compare that to sunny California, with rolling brownouts. Or to our friends in Texas, who have a grid that falters during storms. Our energy rates don’t break the bank, like those paying for the privilege of living in well-intentioned New York. As states begin routine seasonal adjustments to their power formulas with predictions of increased volatility in the energy market, it has never been more critical for others to copy Georgia’s blueprint for energy success.

Success, of course, requires strong leadership. Georgia’s utility companies and the Public Service Commission, work together to strategically diversify our state’s energy portfolio utilizing multiple sources of affordable and reliable energy. Because of thoughtful business choices and a constructive and productive regulatory environment, energy providers are uniquely primed to meet the immediate and future energy demands of customers. This pro-growth mindset is necessary because Georgia’s energy needs are accelerating. In fact, by the year 2050, Georgia will need 40% more energy than we are using today.

Just recently, communities in Middle Georgia saw how this work pays off, when Oglethorpe Power announced the development of two new natural gas projects in Monroe and Talbot Counties. The two projects’ construction alone represents more than $2 billion in economic investment. The construction of these new assets will create permanent, high-quality jobs, hundreds of temporary construction jobs, increased local revenue during construction and ongoing tax revenue for schools and county operations. When operational, the 4.5 million Georgians who rely on our local EMCs to meet their rising electricity demands will benefit from state-of-the-art, highly efficient and reliable power supply.

Perhaps most importantly, Georgia is now home to the country’s first nuclear power units built after a nearly three-decade new construction hiatus. Plant Vogtle--co-owned by Georgia Power, Oglethorpe Power, Municipal Electric Authority of Georgia, and Dalton Utilities--represents one of the most significant energy accomplishments in recent history. After losing a generation of nuclear knowledge, our energy providers led by Georgia Power, stepped up to meet the needs of today’s energy marketplace by completing Units 3 and 4 at Plant Vogtle, now the largest source of clean energy in the country.

Plant Vogtle’s expansion also represents a significant investment in energy reliability. Nuclear power provides a clean, safe, and stable supply of electricity. This reliability is crucial, especially in times of fluctuating global energy markets and geopolitical energy imperialism that can disrupt supply chains. By investing in nuclear energy, Georgia ensures a consistent power supply for our children and the next generation of small businesses, fostering truly long-term economic stability.

With reliable, diverse, safe, and affordable energy sources, like our natural gas facilities and nuclear reactors, Georgia can make investments in our future economy. At the Georgia Chamber, we are crafting the state’s 25-year economic outlook. We know that future industries will need more energy. And lots of it. Whether that’s artificial intelligence, cloud servers, or the new boon in auto manufacturing. Because of our strong energy sources, Georgia is the best positioned state to continue making necessary strategic investments to ensure our long-term economic prosperity.

The Georgia Chamber already knows that states want to emulate Georgia. Why wouldn’t they? We are the number one state in the country to do business for an unprecedented 11 years in a row. At a June energy summit in Washington D.C., representatives from the military, environmental leaders, data center developers, federal agencies, and utilities from across the nation sought out advice from Georgia utility leaders. Georgia's energy resilience, in particular the success of completing Units 3 and 4 at Plant Vogtle dominated the discussion, animating the very energy in the room. They now know what the Georgia Chamber knows: Georgia's business and government leaders are setting the standard for how to grow a state and do business.

We are excited about the future of Georgia, of the potential of our small businesses, frontier founders, and advanced manufacturers. Continued smart investments in the future of infrastructure and energy will only solidify our economic prosperity…for your children and grandchildren.

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ATLANTA – Today, Chris Clark, President and CEO of the Georgia Chamber of Commerce issued the following statement on the passing of Dr. J David Allen who served as Chairman of the Georgia Chamber in 2007.

Chris Clark, President and CEO of the Georgia Chamber said:

“Dr. Allen was an outstanding businessman who fostered economic development in every part of Georgia. Dr. Allen’s business expertise made him a highly sought-after leader, and he led organizations that reflected his numerous professional and personal passions. The Georgia Chamber benefited from his tenure as chairman, which helped lay the groundwork for Georgia’s current record-breaking economic prosperity. More importantly, David Allen was my friend and mentor. He was a cheerleader for the Georgia Chamber, economic development and conservation! His enthusiasm was contagious and he loved to connect people. The entire business community thanks Dr. Allen for his lifetime of service, and are heartbroken for this loss. Simply, David made Georgia better. ”

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By Chris Clark, President & CEO, Georgia Chamber of Commerce

It’s no secret that during an election season, polarizing debates and partisan politics can often overshadow the work being done on behalf of all Georgians. As we reflect on the last two years and the issues that have been most important for the business community, I’m proud of the bipartisanship, civility and integrity displayed by our state’s elected leaders to solve problems and deliver solutions that move our state forward.

Over the course of the 2023-2024 Legislative Biennium, the Georgia Chamber team and our Government Affairs Council diligently tracked over 850 bills and budget items directly impacting the free enterprise system in our state. Our policy positions and initiatives are carefully crafted to develop new ideas and strategic solutions that drive innovation, ingenuity and real results for our members, communities, partners and the over 3 million represented employees in every county of the state.

The general assembly passed several pieces of key legislation improving Georgia’s infrastructure, workforce development and competitiveness. We’re also appreciative of the work accomplished in the legislature to protect the economic incentives and tools that have contributed greatly to our state’s record-breaking growth.

Led by the policy initiatives of Governor Kemp, Lt. Governor Burt Jones and Speaker Jon Burns, the general assembly made significant progress in reducing our state's income tax rate, aligning the corporate tax with the personal rate and increasing tax deductions for Georgia's families and homeowners. These policies provide relief for small businesses and hardworking Georgians as inflation and high interest rates continue to impact the national economic landscape.

Thanks to the work of our HUB Chamber Council representing our military communities, significant progress was made in improving our occupational licensing procedures with the passage of House Bill 880. Prior to the passage of this legislation, spouses of Georgia’s active-duty service members were burdened by excessive wait times for the transfer of their occupational licenses, often having to wait up to nine months for approval to work following a move from out of state. HB 880 ensures that qualified military spouses can obtain their occupational licenses within 30 days of application after receiving official orders of a permanent change of station. These updates strengthen Georgia’s robust military community and the greater economy by increasing access to employment in some of our highest-demand careers.

Georgia experienced a year of unprecedented economic growth in 2023 with over $24 billion in investments and 38,000 jobs created through 426 new or expanded project locations. These accomplishments are a result of strategic policy implementation and our world-class infrastructure network that consists of 125,508 miles of roadway, 3,288 miles of Class I rail, 1,012 miles of Class III rail, two deep-water ports, two inland ports with a third in development, five intermodal rail yards and nine commercial airports. We know that to keep up with the increased demand our freight and logistics system will face, we must make investments to strengthen and secure our critical infrastructure. We commend Gov. Brian Kemp for his historic $1.5 billion down payment on the future of Georgia’s infrastructure and the general assembly for their passage of HB 617 codifying the Georgia Freight 2050 Program.

Another important component of maintaining our economic competitiveness is ensuring that Georgians in every corner of the state have access to quality affordable healthcare. In our 2024 Executive Insights Survey, 63% of respondents cited access to healthcare as a top issue impacting our state’s future competitiveness. The general assembly passed legislation to expand the rural hospital tax credit, increasing access to healthcare in some of our state’s most vulnerable communities and fortifying our healthcare infrastructure to withstand our current and future growth by creating a new dental school at Georgia Southern University and a new medical college at the University of Georgia.

As Georgia faces significant opportunities to increase workforce participation and preparedness, the general assembly responded by passing legislation to bolster our education-to-workforce pipeline and expand opportunities for employment throughout the state. Legislation was passed to increase participation in some of Georgia’s highest-demand careers through k-12 education programs. We also commend the legislature for their expansion of policies to increase second chance hiring initiatives and literacy.

The business community fought hard to increase access to homeownership and affordable housing for Georgia’s workforce but for the second year, this vitally important issue has failed to advance. However, Governor Kemp’s Rural Workforce Housing Initiative to facilitate new housing developments in rural regions did pass and will help ease the burden for many Georgians.

Finally, we applaud the Georgia General Assembly for passing meaningful reforms to our civil justice system. Senate Bill 83 and Senate Bill 426 make significant changes to our state's legal environment and take steps to reduce skyrocketing insurance rates for Georgia’s businesses and citizens. We will continue to work alongside Gov. Kemp, Lt. Gov. Jones, Speaker Burns and Insurance Commissioner King to develop a long-term legal reform strategy.

'What’s good for business is good for Georgia’ drives the policy development and advocacy efforts of the Georgia Chamber and our members. We look forward to continuing our work alongside our elected officials to make our state the best place to live, work, pray and play.

Click here to learn more about the Georgia Chamber’s legislative priorities from the 2024 session.

By Chris Clark, President & CEO, Georgia Chamber of Commerce

It’s no surprise to anyone who has filled up their tank, been to the grocery store, or applied for a loan that sky-high inflation and increasing interest rates are placing an undue financial burden on citizens across the country and constraints on business investments. Here in Georgia, Governor Brian Kemp suspended the gas tax for months and put money back in the pockets of hardworking taxpayers among other fiscal decisions that have helped ease the burden on Peach State families. However, at the end of the day, inflation and interest rates are D.C. problems that place an artificial cap on an otherwise healthy economy.

In addition to facing the challenges of inflation, young Georgians are finding it nearly impossible to afford their critical first homes because of increasing mortgage rates. Nationally, home purchases are down by over 14% since October of last year, and monthly payments on housing units have sky-rocketed by 53% from Q1 of 2022 to Q1 of 2023 alone. Interest rates between 6% and 7% coupled with the drastic decrease in new builds have forced many empty nesters to stay in homes they don’t need further limiting the available housing stock for first-time home buyers and making it even harder for them to afford their first home. The Georgia Chamber has supported legislation at the state level to increase the availability of housing and decrease barriers for homebuilders, but further action to reduce interest rates and housing costs is needed at the federal level.

Housing affordability isn’t the only problem. Georgia has the second-highest loan rates for both new and used vehicles in the country at 7.91% and 12.15% respectively. Transportation is a key reason many people aren’t working today, and these rates are making the problem worse!

While these issues are impacting Georgia’s families in a very real way, small businesses throughout the state are also struggling under the current economic conditions. In a recent survey, only 29% of small business owners said that their companies could afford to take out a loan with small business loan rates sitting between 7% and 9%. Many of these Main Street businesses already operate week to week, so it’s easy to see how even a small uptick in interest rates could ripple through their profit margins. In the same survey, 85% of respondents noted that if access to capital continues to tighten it will dramatically impact their growth by forcing them to halt expansion plans, implement hiring freezes, lay off workers, or close their doors altogether. These businesses are the heartbeat of our communities and deserve better!

Instead of decreasing barriers for small businesses to access loans, federal regulators chose to do the exact opposite. In July 2023, the Basel III Endgame Rule was proposed which would require large banks and most regional banks to increase their capital holdings by 20%. This rule will significantly reduce access to capital for Georgia’s small businesses, households, and consumers by forcing banks to offer less financing or offer it at a much higher cost. At the same time, Washington’s inaction on tax policy means many small businesses will be paying higher tax bills in 2025.

The Georgia Chamber, on behalf of the business community in every single county in the state, is taking a stand for small businesses, our employees, and communities by urging Washington lawmakers to address poorly conceived policy in the financial markets, and to pass much-needed tax break extensions. We also call on the Federal Reserve to take immediate action to reduce interest rates and remove the constraints hindering economic growth and prosperity. Homeownership matters. Small businesses matter. The auto industry and manufacturing matter. It’s time for Washington to act like it!

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By Chris Clark, President & CEO, Georgia Chamber of Commerce

Georgia has boasted record economic growth for five consecutive years with over $134 billion in capital investment, $68 billion in real GDP growth, over two thousand new or expanded project locations, and 268,000 jobs created throughout every corner of the state. Our economic development successes aren’t an accident of geography. They result from thoughtful policies that have yielded a strong, stable, and predictable business climate that has earned Georgia the designation of “Best Place for Business” for an unprecedented ten consecutive years. But as Governor Brian Kemp rightly noted in his second inaugural address, we can’t maintain our best-in-class business status by continuing the status quo.

Our business and elected leaders have recognized the need to equip our critical infrastructure network to support the magnitude of growth we have seen - and will continue to see - for the foreseeable future. Significant investments have already been made to increase the capacity of our ports and unclog some of the largest trucking intersections throughout our highway system. However, our state needs to invest an additional $1.5 billion annually to ensure the well-being of our infrastructure systems and secure future economic success.

We need visionary leadership to enact the policies that will keep Georgia thriving for decades to come. Georgia’s economic growth is sustainable only with a large and well-maintained freight network of roads, bridges, railways, and ports that can accommodate the trucks and rail cars needed to move goods to and from the booming Georgia Ports, to serve Georgia’s growing agriculture, manufacturing and logistics/distribution sectors, and to meet the exploding demand for e-commerce.

The Georgia Department of Transportation is currently developing a long-term, comprehensive plan for meeting these growing needs. We know what must get done: new roads, bridges, and rail, more limited access highways, and more inland ports. Georgia’s thriving business climate, enduring economy, and fully employed workforce have combined with the state’s conservative budgeting to produce a surplus into the next fiscal year. This gives policymakers the ability to make a significant down payment on our future infrastructure needs that will keep our economic engine humming over the next year without new revenue.

To give one example of improving mobility, there are 5,500 rail crossings on Georgia roads where cars must stop and wait for long trains to pass. Building infrastructure to allow traffic to go above or below the tracks would greatly increase travel times and safety – but would cost billions to complete.

From 2018 to 2045, the volume of freight moving in Georgia is expected to increase 48 percent, from 597 million tons valued at $875 billion in 2018 to 885 million tons worth $1.8 trillion in 2045. This means the number of trucks on the road will far exceed the 39 million that passed through Georgia weigh stations last year and trains will grow longer and slower.

Already, nine of the nation’s 100 worst truck bottlenecks are in Georgia with two in the top 5 worst (Spaghetti Junction and I-285/I-20 on the west side). These delays increase the cost of goods we buy, waste time and fuel, and yes, increase our stress levels.

The quicker we can act to upgrade our freight network, the better the results for taxpayers. The same supply chain and inflation issues that have driven up the prices of eggs and gas have also driven up the cost of building and maintaining roads and bridges. Road resurfacing now costs up to $1.15 million per mile, road widening is up to $18.1 million per mile, and a new highway interchange costs up to $100 million per mile. These costs are only going to continue to rise year over year.

In the 2023 legislative session, leading members of the House and Senate highlighted the need for action and signaled repeatedly their intention to move forward next year. Policymakers can move forward knowing they have the support of the people of Georgia behind them. In a December poll, 70 percent of Georgians supported increasing transportation funding by $1.5 billion a year. The question is less, “Can we afford it?” and more, “Can we afford not to?”

This investment in our tomorrow must begin today. Together, we can build sustainable prosperity that benefits the businesses, citizens, and economy of Georgia.

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By Chris Clark, President & CEO, Georgia Chamber of Commerce, and Neil L. Pruitt, Jr., Chairman & CEO, PruittHealth

Across Georgia and the country, we are experiencing a serious need for healthcare staff. Hospitals, senior care facilities, urgent care centers, local health clinics, and even imaging centers are facing long-term problems providing access to care for our citizens.

We’ve seen this issue progressively worsen since COVID as burnout, fluctuations in demand, rising turnover, and lawsuit abuse have led to skyrocketing medical malpractice costs, and as healthcare professionals desire more work-life balance. Most concerning is the decline in appreciation and respect for the value of front-line healthcare personnel. We’ve become a society that refuses to show gratitude for our most important workers: educators, public safety employees, and caregivers.

Right now, Georgia has nearly 40,000 job openings in the healthcare industry. In 24 months, we expect over 60,000 openings. By 2030, when the baby boomers retire, we’ll need 100,000. The demand for nurse practitioners will rise by 75%, physical therapists surge by 33%, home health workers by 37%, and demand for physician assistants will rise by 38%. In the next five years alone, we’ll need at least 16% more doctors as well. That’s right, by 2030 we’ll be in a full-blown crisis that will negatively impact care and public safety!

This has greatly affected the bottom line of healthcare facilities, with many of the country’s leading hospital systems posting massive losses. Institutions were already operating at the margins prior to 2020, but the pandemic only increased demands from facilities while also producing skyrocketing expenses.

In rural Georgia, we’ve seen the closing of smaller hospitals and community-based clinics creating more healthcare deserts, and significantly impacting maternal care and emergency medicine among other critical areas of patient care. Families across the state will face more challenges and less options when seeking a nurse for home health care and finding hospice care or a nursing home for their aging loved ones.

This staffing crisis is leading to ongoing delays related to boarding in emergency departments, prolonged admission to hospitals, and delayed elective and emergency surgeries. Each of these contributes to adverse outcomes, morbidity, and mortality. We know the problem; the question is do we have the resolve to find solutions?

Fortunately, Georgia leaders have shown their willingness to work on real-world solutions. In the last few years, we’ve increased funding for medical school slots and added a medical school in Savannah. Mercer Medical has expanded to Columbus and Philadelphia College of Osteopathic Medicine has opened campuses in Moultrie and Suwanee. The general assembly created a tax credit program for private investments in rural communities and Governor Kemp offered targeted waivers to extend Medicare and Medicaid coverage of postpartum care. The state has also worked to improve mental health access and services.

But more work must be done at the state level and within our healthcare systems. Implementing the changes listed below can increase our competitiveness and ensure we are able to attract and retain healthcare talent.

• Raise salaries, improve benefits, and offer in-house 24/7 childcare for staff. Many individuals entering healthcare have young families. Yet many providers are forced to work well over 50 hours per week. Quality childcare is a great benefit perk, both financially and emotionally, for staff.
• Flexible scheduling. Nurses and other staff are leaving high-stress and long hours behind in exchange for schedules that give them more time with family. Some systems are bringing in retired workers to help balance workloads, some are offering radically different scheduling systems.
• Re-engineer the electronic medical record. Reducing providers’ screen time can optimize efficiency and reduce mental health detriments. Many providers report feeling like data entry clerks with diminishing human connection to patients. Moreover, they are often forced to spend their few evening hours at home completing patient charting responsibilities instead of being present with family.
• Invest in provider support. Some systems are hiring more advanced practice providers, medical scribes, and support staff so that each employee may focus on their skillset, hence improving efficiency and outcomes.
• Rethink the scope of practice. In rural communities, nurse practitioners could have a real impact if their scope was sufficient for the needs of their patients. There are opportunities to better align the skills of employees by allowing them to operate at the top of their license, improving retention and job satisfaction while better meeting community needs to provide high-quality care.
• Improve healthcare career pathways for students to fully expose high schoolers to opportunities in health and wellness in their communities. Keep it simple, expose them to opportunities, and make it meaningful.
• Georgia needs a halo nursing program to recruit the best and brightest from other fields. In other states, these graduates become managers, directors, and administrators. Opportunities to continue providing lifelong learning and management growth opportunities for nurses will ensure Georgia can recruit top-tier talent from across the country.
• Innovative training programs. Phoebe Putney is currently building their own nursing school complete with dorms on their campus. Albany Technical College will certify the training. This innovative approach could be a model statewide and deserves attention.
• More doctors. Georgia ranks 41st for public school physicians that stay and practice in-state. When we add Morehouse and Mercer graduates, we rise to 35th, but that is still not good enough! We need more medical schools and more scholarships.
• Medical malpractice reform. Doctors used to need $1 million to $3 million in annual malpractice insurance coverage. Today they need $10 million to $30 million. Premiums alone run many doctors to more affordable destinations. Unfortunately, personal injury attorneys now view doctors and caregivers as cash cows. The result is fewer doctors practicing where we need them most! It’s driving up the cost of insurance for every hospital in our state.

Georgia’s healthcare system has undergone significant changes after the pandemic. We must continue working alongside our state’s lawmakers and healthcare providers to develop comprehensive solutions to the workforce shortage that benefit practitioners and patients alike.

For over 100 years, the Georgia Chamber has advocated on behalf of the well-being of Georgia businesses and communities. To learn more about the Chamber’s efforts to ensure the health and wellness of the Peach State, visit www.gachamber.com.

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By Chris Clark, President & CEO, Georgia Chamber of Commerce

Economic Dynamism is a term that refers to an economy’s adaptability, resiliency, competitiveness, and ability to respond to disruption. Georgia is no stranger to adaptability and resiliency, proven through our emergence from the COVID-19 pandemic with one of the nation’s leading economies. In the last four years, thanks to the leadership of Governor Brian Kemp, Georgia has attracted over 1,700 projects, more than $65 billion of investment, and 165,000 jobs for the citizens of the Peach State.

As we look forward and continue to seek expansion and development in every corner of the state, there are several areas where Georgia’s economy is not reaching its full potential. To maintain our competitiveness in both the short and long term, we must focus on specific areas of growth that will allow us to see continued record-breaking investment.

In Q1 of this year, 32,000 employers were competing for talent to fill over 357,000 jobs. In fact, overall state employment is expected to grow 46% by 2050. Currently, there is only 1 person seeking employment for every 3 job postings, leaving Georgia ranked 33rd in Labor Force Participation. The success of Georgia businesses and ongoing economic development efforts hinges on our state’s ability to provide companies with a skilled labor force.

Georgia’s tax structure is fiscally responsible and straightforward, both of which keep our state competitive. The economic development tools and incentives implemented have earned our state the title of “Best Place to Do Business,” for an unprecedented nine consecutive years. Unfortunately, our legal climate has earned us another title that I’m not proud to hold: “Number One Judicial Hellhole.” For perspective, we overtook California to win that designation.

The skyrocketing number of nuclear verdicts in our state is costing Georgia households an extra $4,157 dollars in price hikes and inflation annually. The impact of these costs on small businesses is detrimental and often forces them to increase prices or close their doors altogether. Florida was the only state who had higher tort costs than Georgia, and what did they do in response? They signed sweeping reforms into law earlier this year.

Legal reform has been at the top of the Georgia Chamber’s priority list for several years, but unfortunately, progress has been difficult to achieve. However, we are undeterred and encourage policymakers to take immediate action on this issue to continue attracting development to our state and supporting existing industries as they navigate operational and workforce challenges.

A key indicator of economic dynamism is churn, meaning a robust small business sector is paramount. Georgia is ranked 3rd in the nation for the number of adults becoming entrepreneurs each month. Our first-year business survival rate continues to increase and now sits at 80%, which is above the national average, but still leaves us ranked 35th. Greater access to capital and support for entrepreneurs to start and grow their small businesses will bolster our first-year success rate and ensure the long-term prosperity of Georgia’s economy.

We have made great strides in increasing research and development initiatives through various public-private investments and partnerships. In 2021 our state’s colleges and universities posted $2.95 billion in research expenditures, and Georgia startups increased venture capital investments by nearly $2 billion. However, we still lag behind competitor states like Texas and North Carolina.

The Georgia Research Alliance is partnering with our state’s universities to increase R&D investments and grow our economy. In 2022, GRA-related expenditures totaled almost $900 million. These competitive public and private research dollars come from outside the state and support Georgia companies in hiring employees, renovating spaces, and purchasing equipment necessary for research and development. Building on our already strong innovation ecosystem by seeking outside investment in Georgia through R&D as well as venture capital will be vital to foster a dynamic economy for years to come.

The data is clear that Georgia’s overall economy is strong, and the continued efforts of our elected officials and business leaders have helped our state achieve unprecedented economic success. By continuing to focus on competitiveness, infrastructure, and workforce, we can ensure that Georgia remains competitive, resilient, and innovative while providing opportunities for increased dynamism.

To learn more about dynamism in Georgia’s economy, visit gachamber.com/economic-dynamism.

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By Chris Clark, President & CEO, Georgia Chamber of Commerce

As the state’s largest business advocacy organization, the Georgia Chamber has worked diligently alongside state leaders and lawmakers to ensure that Georgia’s tax structure and economic policy are some of the most competitive and fiscally responsible in the nation. For over 40 years, companies have flocked to our state because of our pro-job creation philosophy. Having consistent tax and regulatory systems is common sense in a world dominated by economic uncertainty. Now, we need the Federal government to follow suit and mirror the same approach that our state leaders follow.

In 2017, the Tax Cut and Jobs Act brought about the most comprehensive tax overhaul the United States had seen in over three decades. Many of the provisions were beneficial for Georgia businesses. However, our members have identified several areas of the legislation that require immediate and significant fixes to protect small businesses and start-ups here in Georgia.

A provision found in Section 174 pertains to research and development initiatives, and starting this year, will limit how those expenses can be deducted. As companies, especially in their early years of operation, are investing heavily in new products, technologies, and processes, their upfront research and development expenses are substantial. I have heard from hundreds of Chamber members that this change disincentivizes them from engaging in new product development, posing a significant threat to the state’s innovation ecosystem. When these important deductions are stripped from our businesses, it dramatically impacts their ability to invest and hire new employees.

Another change in Section 179 previously allowed companies to invest in necessary capital equipment because Bonus Depreciation was expanded to 100% of its purchasing price. This was a good thing for small and start-up businesses. Now, changes to that practice significantly reduce the ability of companies, especially in Georgia’s robust construction and manufacturing industries, to invest in new equipment and technology. These are areas that grow the tax base of local communities and increase the productivity of businesses, making them a priority to preserve.

A provision found in Section 163(J) made a change that limits the amount of business interest expense based on the amount of interest income. This policy gets complicated, but the bottom line is that this deduction has been an invaluable asset to hometown businesses. As rising interest rates continue to impact Georgia companies and families, action must be taken to shield our business community from unpredictable national economic trends.

Finally, section 199A of the federal tax code was revised to allow many mom-and-pop businesses to deduct up to 20% of their income. At the end of 2026, this provision will no longer apply, leaving small businesses, S Corps, LLCs, and others much worse off than before the 2017 legislation was implemented. Soon, Georgia’s small businesses could be paying more taxes than multinational firms. Over 95% of companies in our state are small businesses and will experience the impacts of this problem.

Congress must stop playing political games and prioritize the well-being of the business community both here in Georgia and throughout the nation. Fair and predictable tax policies are vital for the success of Georgia companies and the continued record-breaking economic development and investment our state has experienced. Reach out to your senator or congressman today and ask them to make these changes before it’s too late!

To learn more about the Georgia Chamber’s efforts to fight business-killing legislation in Washington, visit www.gachamber.com.

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