Georgia is a pro-business state offering diverse employment sectors. The greater Metropolitan Atlanta Area is home to 75% of Fortune 1000 Companies and the transportation hub of the south. Georgia was ranked the number one business climate in the nation two years in a row (2013-2014), by Site Selection magazine, one of the nation’s top economic development trade publications. Dale Buss, Area Development Staff Editor, stated: “Georgia’s success has come from dead reckoning in areas that are crucial to business locators. That includes the state’s welcoming and business-friendly government, to be sure. The state also enjoys a strong infrastructure, featuring Hartsfield International, one of the world’s most efficient passenger airports; two deepwater ports; and one of the nation’s most extensive surface-transportation networks. No wonder that Georgia has been able to announce a continuing string of business expansions and relocation over the last year.”
The large, energetic and cosmopolitan Atlanta is a booming regional center for the growing and increasingly prosperous American South. Originally Atlanta was founded as a transportation crossroads, as railroads converged on its end-of-mountains location and radiated in all directions. Today’s Atlanta still plays that role, both for ground and air transport, as it originates more flights than any city except Chicago. But more generally, Atlanta has boomed, first as home to such giants as Coca-Cola and Delta Airlines, and more recently as a vital regional and headquarters business center for large corporations. Home offices for Home Depot, UPS, CNN and Bellsouth are in the area, and almost any company you can think of has an operation here, and some are quite large.
Atlanta also offers low property and income taxes along with newer homes and growing real estate markets. Income (average hourly earnings) in Atlanta is on the rise and has been growing much more quickly than the national average for the past couple years. This is due to the favorable mix of jobs being created.
There are a lot of reasons why Atlanta continues to prosper. New construction is on the rise,and the rental market is strong. Also, the state government is easy to work with from the perspective of a landlord. Within 15 days if your tenant doesn’t pay rent, they’re out. Other states can allow up to 45 days or more. The key to investing in Atlanta is being familiar with the areas and neighborhoods; location, location, location!The key is to point investors in the direction of houses with good schools, low crime and convenient transportation. Preferable areas are subdivisions with primarily homeowners in them. Values are driven by these systems. Between 2001 and 2007, 1.1 million people moved to Atlanta. From 2012-2019, populations projections show a near 20% increase in population, while the rest of the U.S. will increase by less than 10%. Also, unemployment continues to decrease. There’s more to it than just that, though. Palano notes an ageing population in the wealthier Northeast and Midwest, and a steady stream of retiring Baby Boomers. “All these people want out, and they want quality of life,” he says. “But Florida has gotten very expensive. Here we’ve got growth, we’ve got jobs and we’ve got quality of life.”
As Atlanta continues to prosper, it’s important to note that Atlanta is still affordable, especially compared to other markets. Jobs are being retained and created, population is increasing, home sales are increasing, prices are on the rise; yet homes are still affordable to the first-time home buyer. The longer term outlook is extremely favorable. Strong population and income growth will support robust demand for housing and drive above average home price appreciation. Home sales in Atlanta are forecast to be up 11% in 2015 as household growth, job growth and affordability work together to speed up the housing market recovery.
Our areas of focus in the greater Metropolitan Atlanta Area are the following counties: Carroll, Cobb, DeKalb, Douglas, Fulton, Gwinnett, Henry, Newton, Paulding, Rockdale and Spalding.