Jul 02 2018
The Peach State has economically outperformed the nation as a whole over the last five years
IBISWorld, a global leader in industry market research, has added Georgia industry reports to its growing US state collection. From construction and insurance to hospitals and data processing, the reports will cover several industries within 10 major sectors of its economy.
Georgia, which has a population of nearly 10.5 million individuals, is estimated to be the ninth-largest economy in the United States.
With its lower cost of living, businesses are flocking to the state. Strong performance in Georgia’s real estate, rental and leasing sector in particular has led to GDP gains there. Homes are being sold at a faster pace in Georgia than they are nationally as the median home price in Georgia is well below the national average. Georgia’s $4.5 billion real estate sales and brokerage industry is projected to continue to grow over the next five year period ending in 2023.
“Georgia’s growth has also been supported by an influx of patrons of the arts. The arts, entertainment and leisure sector recorded an annualized 4.4% increase in employment, thanks to a strong film and television industry within the state,” says IBISWorld analyst John Madigan. “Atlanta is also becoming a burgeoning hub for the technology sector.”
Want more stats and insights on what types of companies have their eye on setting up shop in Georgia?
IBISWorld’s state industry research reports allow you to uncover how local market conditions affect profitability and success. Stay on top of local level trends. Contact our team to learn more about the state report collection.