Governor Brian Kemp stated in an August 29 announcement that business recruitment and expansion in Georgia have continued in fiscal year 2024, with more than $20.3 billion in investments between July 1, 2023, and June 30, 2024.
"For years, we've worked closely with local and state partners all across Georgia to bring historic job creation to our communities, especially in rural areas," said Kemp. "These figures are just the latest confirmation that our approach is bringing sustained opportunity for the people of our state, even in the face of economic headwinds on the national level. We're committed to continuing that momentum, investing in key areas like education, workforce development and infrastructure."
According to a press release, between July last year and June this year, Georgia saw 429 new or expanded facilities, resulting in the commitment of 26,900 new private sector jobs across the state. More than 50% of the new or expanded facilities were in the aerospace, automotive, and e-mobility sectors, including Hyundai Motor Group’s new locations in multiple counties and StandardAero’s new operations in Richmond County.
Governor Brian Kemp
| X/GovKemp
Kemp said earlier in August that addressing "lawsuit abuse" in Georgia is critical for the state to maintain its position as a top destination for businesses. Kemp began a tort reform listening tour designed to facilitate engagement with stakeholders and business leaders across the state to understand how civil litigation policies are impacting the business climate. He said the feedback from the listening tour will shape tort reform policy proposals in the next legislative session.
In August 2023, Kemp called for tort reform, stating that excessive lawsuits are driving up insurance costs in Georgia. According to WABE, he said that rising car insurance rates are one of the results of these excessive lawsuits. "The laws on our books make it too easy to bring frivolous lawsuits against Georgia business owners which drive up the price of insurance and stop new, good-paying jobs from ever coming to communities that need them the most," Kemp said to the Georgia Chamber of Commerce.
As of June, Georgia drivers were paying an average of $2,688 annually for full coverage car insurance, representing a 21% increase from June 2023 and making Georgia the tenth most expensive state for car insurance in the country. According to a report from Insurify, car insurance costs are projected to increase by a total of 24% in 2024, meaning Georgia drivers will be paying an average of $2,893 by the end of the year.
Kemp took office in January 2019 and was reelected in 2022. He previously served as a state senator from 2003 to 2007 and as Georgia Secretary of State from 2010 to 2018.