Starting or growing a business is enough of a challenge without added worries over economic uncertainty. Entrepreneurs and experienced business owners need an environment in which key economic elements come together to support success, and the financial atmosphere in Atlanta appears set to continue providing such support for companies of all sizes this year.
Regardless of what the economy is doing on a national level, conditions in Atlanta remain ripe for growth. A continual increase in the population and the arrival of startups and established companies has maintained consistent growth in the job market, and large corporations like UPS are supporting growth and development in real estate as they open new offices in the city. Even if unemployment or real estate demand fluctuates throughout the U.S., there continues to remain enough demand for office space in Atlanta to avoid a dip in the real estate market.
Site Selection magazine ranked the state of Georgia the number one place to do business from 2013 to 2018, and Area Development magazine echoed the sentiment from 2014 to 2018. Part of the qualification for this high rank is a “cooperative and responsive state government,” indicating businesses seeking to operate in Atlanta will enjoy the support of the state’s administration.
Georgia also boasts a low corporate tax rate, and the cost of living in Atlanta is lower than many other metropolitan areas in the U.S. Entrepreneurs can use the money they save to invest in business growth and to support a better quality of life while they work to build strong companies.
Through investments in infrastructure, job growth and workforce development, the city of Atlanta is seeking to make its environment even more friendly for businesses and residents. Infrastructure improvements include extending public transport via streetcar and rail to create more connecting points and simplify travel. Thanks to the Atlanta Workforce Development Agency and the Mayor’s Youth Program, prospective employees of all ages should be ready to take advantage of these new transportation options to connect with companies throughout the city.
For the sixth year running, the economic forecast for Georgia is outpacing that of the U.S. as a whole. Job growth is predicted for all 14 of the state’s metropolitan areas, including Atlanta, and personal income growth is expected to continue to exceed the national average. Although this growth has dropped a little from 5.4 percent to 4.9 percent between 2018 and 2019, it’s still higher than the 4.5 percent projected for the country. Experts are keeping an eye on trade tensions, but so far no significant consequences have been predicted for the city.
For business owners seeking to expand or relocate and entrepreneurs scouting out the best places to establish new companies, Atlanta’s economy offers a solid foundation. National economic uncertainties have yet to seriously impact the city’s positive financial situation, and businesses can remain confident in its growth and stability throughout 2019.
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If you are looking for a coworking space, contact CEO Centers FLEX. We offer several membership levels that all include high-speed internet, access to the kitchen and lounge with a free coffee and tea bar, use of our business center and concierge services. Contact us today to learn more about the FLEX community.