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3 Economic Booms In Atlanta Causing Re-Location From Southern California

Atlanta, Georgia is one of the fastest-growing populations, economies, and cultures in the country right now. While Georgia as a state has been in the news a lot recently as the final determining factor in the fate of the Senate with two contentious runoff elections, Atlanta has been churning out economic headlines for the last decade. 

Simply said, this city is one of the hottest spots for entrepreneurs, small businesses, and startups to launch their new kingdoms. And for medium-to-large-sized companies, including multinational corporations, Atlanta is an ideal city in which to expand logistically or base a new southern headquarters.

This includes a myriad of different industries and markets, but for the purposes of this post, we’re going to focus on three. These three promising economic growth industries epitomize the potential of Atlanta as a major new American business hub.

Hemp and Cannabis

The United States has seen a sea change in marijuana laws in the last decade, both nationally, state-wide, and locally. In 2018, the Farm Bill officially legalized the growing of hemp on the national level, which has opened up a veritable cornucopia of cannabis and hemp products onto the consumer market.

While southern states have traditionally been more strict on marijuana laws, even they have softened in recent years. Georgia actually played a fairly significant role in the recent runoff elections as far as determining overall marijuana legislation. But whether we get total uniformity of decriminalization or not, the writing is on the wall and it’s only a matter of time before all cannabis and hemp are completely legal everywhere.

Atlanta currently has about five dispensaries, which is fairly low for most major cities. This number is almost certain to rise exponentially in the coming years, making cannabis and hemp dispensaries a potentially massive growth industry. Obviously, a significant amount of legal and financial research must preface such a business move, but if you have the resources and the connections, Atlanta may be the perfect city to cash in on the Big Hemp craze.

Tech startups

Technology is one of the largest growth industries in the country right now. Even as the economy slumps through the pandemic – in some cases, crashing entire industries (see hospitality and restaurants) – many tech companies are flourishing. The reality is right now quarantined Americans are relying on tech platforms like never before for communication, friendship, work, and recreation. 

As one of the new premiere cities of the South, Atlanta is no stranger to successful tech startups. Our current resume includes the digital healthcare company ShareCare, the AI and robotic tech platform OneTrust, the identity security company Pindrop, and many more. Many economists believe Atlanta will be one of the country’s major tech hubs moving forward, making it an ideal city for tech startups to set up shop.

Film and television

Like tech, film and television has been booming in Atlanta for many years now. People started to take notice of this a while ago when the hit AMC series The Walking Dead flourished here. Since then, we have grown to become the Hollywood of the South with major studios, development companies, and producers/celebrities choosing Atlanta as their de facto production home. 

It used to be just Austin, Texas that received Hollywood status as a southern major film hub. But states like New Mexico and Georgia passed tax incentive laws that effectively lured filmmakers and studios out of the expensive California municipalities and into their local communities.

Pinewood Atlanta Studios, for example, is the largest film studio built outside Hollywood and employs thousands of residents. The studio’s first production was Marvel’s Ant-Man. Since then, countless big names have championed the Atlanta film scene, including Tyler Perry.

Creative Georgia entrepreneurs now have incredible opportunities to join crews, pitch ideas, or launch their own development companies. Facilities are expanding, the indie scene is growing, tourism is boosting state-wide, and fresh revenue is pouring into the state and into Atlanta. 

If you’re an entrepreneur, small business owner, or are priming to launch a new startup, look into what kind of tax and business incentives Atlanta has for you. You may find that your best opportunity lies here in Georgia, where a veritable Golden Age of business growth is thriving even in the midst of a pandemic. 

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