Georgia Wins Site Selection's 2024 Prosperity Cup
Georgia scored the top spot in Site Selection’s annual Prosperity Cup ranking of state-level successful investment recruiting in the previous year.
“Georgia’s Long Game Secures Its Claim to the Cup,” is the headline on Site Selection which notes that Georgia unseated previous #1 North Carolina which had claimed the top spot in the Site Selection ranking for the past three years.
The news was celebrated this week in press releases from both the Governor’s Office and the Georgia Department of Economic Development.
This award from Site Selection just adds to a decade of evidence that the way we do business in the Peach State is working. When job creators choose us, they not only get access to the global market through logistics assets like Hartsfield-Jackson International Airport and some of the fastest-growing ports in the nation, they also get a host of incredible partners at the state and local levels. – Georgia Governor Brian Kemp
Georgia Attracted 318 New & Expanded Facilities in 2023
One of the top criteria for the Prosperity Cup is a state’s ability to attract new and expanded facilities in the previous year. Georgia led all states with 318 new and expanded projects including the expanded scope of the Hyundai Motor Group Metaplant, the largest project in the history of Georgia.
Originally announced in 2022, the South Korean automaker plans to produce a diverse range of innovative Hyundai, Genesis and Kia electric vehicles (EVs), as well a new battery manufacturing facility northwest of Atlanta in Bartow County.
Hyundai Motor Group is investing $7.59 billion to develop HMGMA, which will create 8,500 direct jobs for Georgians. Georgia got a boost in this year’s Prosperity Cup ranking when Hyundai expanded its commitment in 2023 by an additional $2 billion and 400 new jobs.
Other major announcements in 2023 that helped Georgia earn Site Selection’s top spot included Anovion Technologies $800-million, 400-job synthetic graphite manufacturing facility in Decatur County and Meissner Corporation plans to double the company’s Georgia manufacturing footprint with a new $250 million facility in Athens scheduled to open in 2026.
Like the Governor, GDEcD Commission Pat Wilson credited the state’s pro-business environment as a solid contributing factor in putting Georgia over the top in this year’s Site Selection ranking.
“Taking the top spot in the 2024 Prosperity Cup reaffirms that the Georgia Way works. Decades of partnerships and laying the groundwork for intentional economic development from the community level to the state level, combined with our consistent pro-business policies, have led to these positive results. – GDEcD Commissioner Pat Wilson
Florida & Carolinas Round Out The Top 4 In Southeast
The pro-business environments in three other Southeastern states helped Florida, North Carolina and South Carolina earn spots behind Georgia in Site Selection’s ranking of “South Atlantic” states.
North Carolina earned the #2 spot in Site Selection’s ranking of “South Atlantic” states attracting new and expanded facilities followed by #3 South Carolina and #4 Florida.
Other states earning the #1 spot for attracting new investment in different regions of the country included Ohio (East North Central), Texas (South Central), Pennsylvania (Northeast), Kansas (West North Central), and Arizona (Mountain).
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