Georgia - Profile and Business Opportunities

Jan. 9, 2011 - PRLog -- The Great Recession may be over, but Georgia’s economic recovery will be uneven during the coming year, according to a recent report from the The University of Georgia.

In “Georgia Economic Outlook 2011,” researchers at the Terry College of Business Selig Center for Economic Growth forecast that Georgia’s inflation-adjusted gross domestic product (GDP) will increase by 2.3 percent on an annual average basis in 2011, more than double the 1 percent increase estimated for 2010 and essentially matching the 2.2 percent predicted for the nation as a whole.

This will be the first time in seven years that Georgia GDP growth lines up with the national average.

The main reason, according to the report, is that the state’s economy has long suffered from a heavy dependence on real estate development, homebuilding and related industries.

“Because the imbalances in Georgia’s property markets have substantially — but not completely — corrected, Georgia’s economy will match the rate of U.S. GDP growth in 2011,” the report notes. “But, due primarily to lingering effects of the property bubbles, the state’s economy will not outperform the U.S. economy until 2012.”

Georgia's 2007 total gross state product was $396 billion. Per Capita personal income for 2007 puts it 37th in the nation at $33,499. If Georgia were a stand-alone country, it would be the 28th largest economy in the world.

ThyssenKrupp, a global materials and technology company, says it will locate its North American Information technology operations in Alpharetta, Ga.

The company said Thursday it will invest $30 million and create 110 new jobs at the location, which will provide IT services to all of its North American operations.

ThyssenKrupp's Alpharetta location will be known as ThyssenKrupp IT Services North America. The company already has operations in Georgia, including ThyssenKrupp Elevator USA, which is also headquartered in Alpharetta.

There are 15 Fortune 500 companies and 26 Fortune 1000 companies with headquarters in Georgia, including such names as Home Depot, UPS, Coca Cola, Delta Air Lines, AFLAC, Southern Company, and SunTrust Banks. Georgia has over 1,700 internationally headquartered facilities representing 43 countries, employing more than 112,000 Georgians with an estimated capital investment of $22.7 billion.

In 2007, Georgia had an estimated population of 9,544,750 which was an increase of 180,809 from the previous year, and an increase of 1,177,125 since 2000. This includes a natural increase since the last census of 438,939 people (that is 849,414 births minus 410,475 deaths) and an increase from net migration of 606,673 people into the state. Immigration from outside the United States resulted in a net increase of 228,415 people, and migration within the country produced a net increase of 378,258 people.

While the national unemployment rate fell to 9.4%, the lowest in a year and a half. It’s hard to celebrate a drop in the jobless rate that’s due, in part, to a decline in the number of people in the labor force. The participation rate fell to its lowest level of this recession. For adult men, the participation rate fell to a record-low 73.6%.

Separate reports on the nation's job market showed increased hiring by companies last month and fewer layoffs, painting a picture of a strengthening employment recovery at the end of 2010. The private sector created 297,000 jobs from November to December, according a report from ADP that was the highest number the payroll firm has ever reported.

Manufacturing saw a gain of 23,000 jobs while construction was unchanged. Large businesses saw the fewest gains, with 36,000 jobs, while medium-sized businesses, with between 50 and 499 workers, created 144,000 positions.

One dynamic star on the U.S. business scene is The ACFN ATM Franchise Business, headquartered in San Jose, California, where the company was ranked by the Business Journal as the 43rd Fastest Growing Private Company in Silicon Valley for 2007 - 2009.

Entrepreneur Magazine's Franchise 500 listing for 2010 ranks ACFN, the only ATM franchise business in the US, #1 in category "Miscellaneous Financial Services".

ACFN the innovative ATM Franchise Business based in Silicon Valley, is North Americas only ATM franchise focused on providing ATM services to hotels and other travel and entertainment based businesses.

“ACFN is a U.S. company with operations in all 50 States and Canada, however by utilizing our franchise business model we maintain the operating efficiencies of a local company”, says Jeff Kerr, Founder and President of ACFN.

“ ACFN's ATM franchise equips you with the tools and the know how to manage the business". Avi Blankroth, Excecutive Vice President of ACFN says. "The process begins with each franchisee purchasing ATMs, while ACFN locates and contracts lucrative placement locations"

Through all of 2010, the nation added 1.1 million jobs, or an average of 94,000 jobs a month.

Economists expect hiring will ramp up this year, with some predicting double last year's total of jobs or more. A tax cut package that goes into effect this month should boost consumer and business spending.

About  ACFN

http://www.youtube.com/watch?v=y2DuNabUgNA


Find out how you can benefit from ACFN to help deliver return on investment, positive cash flow and improved revenue.

More information is available at:

http://www.acfnfranchised.com/

American Consumer Financial Network (ACFN)
111 W. St. John St
Sixth Floor
San Jose, CA 95113

Tel: 888-794-2236

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ACFN is North Americas only ATM franchise focused on providing ATM services to hotels and other travel and entertainment based businesses. Providing ATM services since 1996, franchised in 2003 with 170 franchises, 1400 ATM Machines in the US and Canada.