A few reasons to think Georgia’s economic future is bright
If I worked for a chamber of commerce in this state, I would be inclined to highlight the recent report by IHS Global Insight Analysis that predicts Georgia will have the eighth-fastest job growth in the country during the next six years. You can see the data visually in this handy map produced by the Wall Street Journal. The factors in IHS’s forecast are, as an accompanying article puts it, the states’ “macroeconomic outlook, including demographic assumptions, historical and cyclical trends and other factors such as oil prices and tax policy.”
Then, I would be inclined to point to this analysis of the 50 states’ indebtedness, produced by the nonpartisan group State Budget Solutions. A closer inspection reveals Georgia is (barely) among the best one-quarter of states in terms of what we owe to creditors and retirees — current and future ones, accounting for the pension payments and other benefits, such as health care, they’re owed. At about $9,500 in state debt per man, woman and child, we’re closer to the top 5 than to the national average ($13,117). That suggests the tax burden is unlikely to grow worse relative to most other states.
The same SBS report cites a forecast for the American Legislative Exchange Council that sets Georgia’s economic outlook at 11th nationally.
Does all this leave room for improvement? Sure — and no room for complacency. But it’s good to find some reasons to be upbeat about Georgia’s future after the steady refrains of gloom we’ve heard for the past few years.
– By Kyle Wingfield
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113 comments Add your comment
UGA 1999
October 25th, 2011
12:54 pm
Isnt Atlanta the “Black Mecca” of the nation?
Hillbilly D
October 25th, 2011
12:59 pm
The local zoning boards ( think your city or county) have become dominated by real estate developers.
It’s been that way as long as I can remember but it’s even worse now.
And for all the growth we’ve had in the last 40 years, have we profited? In some ways yes but in many ways no. The hyper growth people always talk about growth bringing jobs but does it really? True there are more jobs here than there were 40 years ago but there are also exponentially more people. For all the growth, unemployment is higher here than it was 40 years ago. And this area went through another big real estate bust in ‘73-’74 and nobody learned a thing. The major difference was that bust was due to overbuilding of apartments and office parks, rather than single family homes.
saywhat?
October 25th, 2011
1:11 pm
While I hope Georgia’s economic future is bright, I am not convinced. Republican stupidity and cupidity- witness the hot lanes fiasco, the possibilty of CAPCO, poor water management etc, and the whole “tax cuts cure everything” mentality so prevalent really are discouraging.
Balki Bartakomous of Mipos
October 25th, 2011
1:11 pm
We have to learn to start building up instead of out. Sprawl kills all. As a suburbanite stuck in a modest home on half an acre, I have to drive 15 to 30 minutes to get anything accomplished as oppossed to living in a row house or high rise and having shopping and work available nearby. Suburban Sprawl has killed us. I only bought there because ther were no other options. Most Georgians have no idea how expensive water lines and roads are to construct and maintain.
Hillbilly D
October 25th, 2011
1:16 pm
Some people like living in the suburbs, some like living in the city and some like living in the county. That’s never going to change.
UGA 1999
October 25th, 2011
1:17 pm
Balki…..here is an idea…..move. If you want to live in a more urban environment you can always move.
BW
October 25th, 2011
1:22 pm
UGA 1999
I don’t think I ever made this an argument about redistributing to those without….it’s a simple fact that the gap between the two groups is widening. There will be winners and losers and they will not always look or speak like you think they will.
UGA 1999
October 25th, 2011
1:25 pm
BW…..ok? I think there are a multitude of factors contributing to this fact. And it is not all the fault of those at the top.
jms
October 25th, 2011
1:26 pm
Ayn Rant,
I want to invest with you if you can earn a dollar profit off a dime!
Balki Bartakomous of Mipos
October 25th, 2011
1:32 pm
I would if I could. All I hear all the time is people whining about high local property taxes and water rates here in the suburbs but they don’t realize it costs a fortune to lay the infrastructure for us to live out here in these subdivisions. The result of Poor zoning and planning.
BW
October 25th, 2011
1:33 pm
UGA 1999
I think you just want to vent at someone here. I stated that Georgia;s economy as currently constructed will make it difficult for everyone’s boat to rise with “recovery”. That’s it…everyone doesn’t fit nearly into a box called liberal or conservative all the time. While our state debt level is relatively low, I don’t see major improvement if our main economic sectors are construction and “services”. I wonder what the projected salaries of these new jobs will be…will it be Starbucks level? Can you support a family if you have one or desire to have one? Everyone isn’t going to own a company….not everyone is going to college either….there are no simple solutions to this problem….that is all.
BW
October 25th, 2011
1:35 pm
Balki
The thing that gets me is that these people who are whining elect their representatives to office and then complain when they have no idea of how to improve the situation. This is what happened when the conversation gets dumbed down too much….I mean the situation at the Buford town hall was absolutely priceless.
Balki Bartakomous of Mipos
October 25th, 2011
2:48 pm
Agreed BW, I was dismayed at the ignorance and hatred of all things government at the last town hall I attended. I am a pretty conservative person but I felt like a liberal there.