As the United States continues to be the top destination for foreign direct investment (FDI), it’s no surprise that numerous companies are considering expansion into new markets. And with good reason — expanding your business can lead to increased market share, improved brand visibility, and access to new talent pools. But with so many states to choose from, where should you expand your business? If you’re looking for a state that offers a favorable business climate, a highly skilled workforce, and ample growth opportunities, Georgia should be at the top of your list. Here are four reasons why:
1. Favorable Business Climate
Georgia is consistently ranked as one of the best states for doing business. In 2019, Georgia was ranked #1 in the nation by Site Selection magazine for having the most competitive economic development program and being the most business-friendly state overall. The state also ranks highly in other key measures, such as the Tax Foundation’s State Business Tax Climate Index (#6) and Forbes’ Best States for Business (#8).
2. Highly Skilled Workforce
One of the keys to any successful business expansion is having a talented and productive workforce — and Georgia has no shortage of that. In fact, according to data from the U.S. Department of Labor, Georgia’s labor force has grown by more than 14% over the past ten years. Moreover, Georgia is home to numerous colleges and universities that produce a steady pipeline of well-educated graduates in critical fields like STEM, healthcare, and finance.
3. Robust Infrastructure
Another critical consideration when expanding your business is whether the state you’re expanding into has the infrastructure to support your growth. Fortunately for companies expanding to Georgia, the state boasts an extensive transportation network that includes 21 interstate highways, three Class I railroads, nine commercial airports (including the world’s busiest airport), and five deepwater ports. This robust infrastructure provides businesses with easy access to markets both within Georgia and around the globe.
4. Pro-Business Policies
Finally, businesses expanding to Georgia can rest assured that they’ll operate in a state with pro-business policies. These policies include the following:
- right-to-work laws that give employees the freedom to choose whether or not they want to join or pay dues to a union;
- competitive tort laws that protect businesses from frivolous lawsuits;
- the one million dollar ask for a strict workers’ compensation system. This helps contain costs for employers while ensuring injured workers receive necessary benefits quickly and efficiently without undue delay or interference from attorneys or physicians.
Combined, these policies create a business-friendly environment that helps businesses succeed and thrive.
Georgia should be at the top of your list if you’re considering expanding your business into new markets. The state offers a favorable business climate, a highly skilled workforce, robust infrastructure, and pro-business policies — all factors that will contribute to your success. So what are you waiting for? Start planning your expansion into Georgia today and read more below!