Why open a business in Georgia?

POR Hispanic Entrepreneurs November 26, 2021
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Before deciding to start a business in the United States, carefully analyze the advantages and disadvantages that each state offers. Those with high credit ratings are attractive, which is why in Hispanic Entrepreneurs we tell youWhy open a business in Georgia?

The goodness of Georgia

This state is located in the southeast of the United States territory. It borders Tennessee, North Carolina, South Carolina, the Atlantic Ocean, Florida, and Alabama. It has a rich history from the civil war and a calm climate in winter.

It also has attractive natural places to visit with Stone Mountain and national parks such as Amicalola. Housing is cheap and a significant percentage of Hispanics or Latinos live. It is known as the Peach State for its extensive forests of pine, magnolia and peach trees.

Its cities and rural areas have experienced remarkable economic growth even in pandemic. These characteristics make it ideal for living, but beyond what it offers?

Why open a business in Georgia?

You have had a high credit rating for a long time. It is the headquarters of important multinationals such as Coca Cola, Equifax and UPS. These companies work with the state and universities to attract entrepreneurs.

It also has a group of incubators and accelerators that support technology and information in startups.

Georgia Tech supports the incubators of AT&T, Cisco and Coca-Cola and Savannah College of Art and Design that of Gulfstream. Also settled in the region is the Hispanic Chamber of Commerce which has more than a thousand members. It also provides a positive ecosystem for startups.

The cost of living is lower than the national average and skilled labor is proliferating. Various sectors generate business opportunities. Aerospace, food processing, automobile industry stand out. As well as the manufacture of metals, technology area, bioscience, energy, digital media, fintech, entertainment software, among others.

Opening a company in Georgia means having an international projection, since it has more than 3 thousand plants that represent more than 50 countries. Thanks to its airport, 4 ports and the most extensive transport network in the country, it is one of the largest exporters.

It should be noted that its ports include Savannah, the fourth largest in the USA. In addition, it has distribution centers for companies such as Ikea, Heineken and Target- These factors make it an important nucleus of the global economy and a mecca for business in the northern hemisphere.

Real estate experts consider this state a great option to invest. Above it is a constantly growing tourist spot. It was even named by Travel + Leisure as one of the 50 destinations to travel. In addition to this, the airport in its capital, Atlanta is the busiest in the world.

Let's not forget that Area Development indicated that it was chosen as the best state to do business in 2021 for the eighth time in a row. While, according to the WalletHub analysis, it is the second best state in the USA to start a business in 2021. The study of the latter was based on the business environment, access to resources and business costs.

Benefits of open a business in Georgia

Entrepreneurs in Georgia, beyond having a beneficial environment for business, have a favorable tax climate.

The state offers incentives such as tax credits for businesses that wish to establish themselves in its territory.. A new company may benefit from exemption from local property tax. If it is located in the business area, you will enjoy the reduction of occupancy taxes, inspection fees, regulatory, among others.

Furthermore, it offers additional assistance for women, veterans and minorities. Likewise, the government encourages young entrepreneurs with the granting of resources to children and adolescents.

So there are many resources for small business owners. Focus your gaze on cities like Atlanta, Savannah, Macon, but also Dalton, Waycross, Doraville, Alpharetta and LaGrange. Keep in mind that in Georgia, a small business is considered to be one that receives less than $ 30 million in gross revenue per year. Or the one with fewer than 300 employees.

Governor Brian Kemp assured that they will continue working to provide more jobs and opportunities. This was said during the inauguration of Amazon's robotics installation in October.

"Thanks to our nation's leading workforce development efforts, resilient job creators and a business-friendly environment, Georgia is emerging from the global pandemic with unprecedented economic momentum," Kemp told the media.

This assertion is supported by the numbers. In the last fiscal year Georgia set records. It registered nearly 11 billion dollars in new investments, an increase of 46% compared to 2020. Additionally, 33.439 jobs were created, surpassing the previous figure by 5%. This shows that this region has a competitive business environment and workforce to start a business.

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