Everywhere I look roads are being widened, multi-family units are being built and the construction industry is robust.
Hey, I’m talking about Atlanta, GA here, the Peachtree state and the Tree Canopy city. All you have to do is drive around and you can’t miss all the development going on. Why? Businesses and people are moving here.
There are currently 17 Fortune 500 companies with headquarters in Atlanta along with 31 Fortune 1000 companies here as well. Seventy-five percent of all Fortune 500 companies have operations in Atlanta creating a powerful diversified economic engine that doesn’t just rely on one company or industry. It only gets better as there are also 3,500 international companies headquartered in the Metropolitan Atlanta area. One of the nation’s leading homebuilders PulteGroup moved its headquarters from Michigan to Georgia in 2013 creating approximately 310 high-paying jobs and an overall investment of $10,000,000. Another large corporation, Mercedes Benz just received $23,000,000 in incentives to relocate their headquarters from New Jersey to Atlanta. Other household names based out of Atlanta include Coca-Cola, Rubbermaid, UPS, Home Depot and Delta Airlines, just to name a few.
Take a look at Porsche’s new headquarters in Atlanta which includes a test track:
Businesses like business-friendly climates so they can grow and be profitable. We see this all the time with companies leaving areas like New York because the income taxes and cost of living are much higher. When these companies move south, they receive tax breaks while having lower overall taxes, a lower cost of labor, lower cost of living and a much better quality of life.
As it is important to think about new businesses and bringing young adults into an ever-growing workforce, it’s also important to think about another boom in Georgia’s population.
Did you know Georgia ranks as the #5 best places to retire? Perks to retirees include no estate or inheritance taxes and social security benefits are not taxed at all either. With a comfortable climate, access to culture and a 4% state sales tax, it’s easy to see why Georgia real estate is sought after by many aging adults.
Here is a comparison between Atlanta, GA and Austin, TX showing overall cost of living much lower in Atlanta. Housing is the biggest factor in the cost of living difference.
Georgia offers lower costs on major expenses like housing, clothing and transportation. Even though Atlanta is considered the 9th largest metropolitan area, the quality of life it has to offer has not gone unnoticed. Atlanta’s population continues to grow, averaging a 26% increase over the last 12 years.
As I drive through Atlanta for 2-3 weeks of most months, I can’t help but notice how beautiful and peaceful it is. And the people…some of the nicest and kindest I have ever met. It really is the South and I love the hospitality and that I feel really safe there. That being said, every city has its bigger crime areas and they are typically in lower socio-economic communities – we stay out of those and advise our readers to do the same.
Take a look at some of the ongoing developments in Atlanta: