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Quick Facts About Atlanta, Georgia
- § Forbes Magazine ranked Atlanta as the #1 rental market.
- § CNNMoney.com says Atlanta is the 4th best city in America to invest in.
- § U.S. Economic Rankings list Atlanta as 1st as least costly large city for business
- § Forbes Magazine “Best Places for Business and Careers” in 2008
- § U.S. Economic Rankings list Atlanta as 3rd in job growth
- § Cited by National Geographic in naming Atlanta a “Place of a Lifetime”
- § Forbes Magazine names Atlanta most “wired city” 2010
- § U.S. Economic Rankings list Atlanta as 2nd best city to relocate
- § #1 “Top US Metros for Low cost of Doing Business” – KPMG, 2010
- § #1“Most Favourable US Cities for Data Centers” – Jones Lang LaSalle, 2010
- § #1 “Top US Cities for New Graduates” – Careerbuilder 2010
- § #3 “Top U.S. Cities for the Americas Headquarters” – FDI Magazine, 2009
- § One of only 9 US cities to rank as a “Global City” – Foreign Policy Magazine, 2010
Economy and Industry
Atlanta has the country’s fourth-largest concentration of Fortune 500 companies, and more than 75 percent of Fortune 1000 companies have business operations in the metropolitan area, helping Atlanta realize a gross metropolitan product of $270 billion, accounting for more than two-thirds of Georgia’s economy.
Several major national and international companies are headquartered in metro Atlanta, including four Fortune 100 companies:
- § The Coca-Cola Company,
- § Home Depot,
- § United Parcel Service
- § Delta Air Lines.
The headquarters of AT&T Mobility (formerly Cingular Wireless), the second largest mobile phone service provider in the United States, is located near Lenox Square.
As of 2006 Atlanta Metropolitan Area ranks as the 10th largest cybercity (high-tech center) in the US, with 126,700 high-tech jobs. Delta Air Lines is the city’s largest employer and the metro area’s third largest. Delta operates one of the world’s largest airline hubs at Hartsfield-Jackson
Atlanta International Airport which is the world’s busiest airport, both in terms of passenger traffic and aircraft operations. The airport, since its construction in the 1950s, has served as a key engine of Atlanta’s economic growth.
The Southeast: Economic Engine of the U.S.:
- § Southeast is the leading market for population and economic growth in U.S.
- § 5th largest economy (GDP) in the world at $3.1 trillion
- § Over $972 billion in retail sales
- § Population: 78 million
Metro Atlanta
- § Capital of Georgia -booming but stable state
- largest state east of Mississippi River
- population: 10 million (2010)
- fastest-growing state of the top 10 most populous
- one of only 8 U.S. states with AAA bond rating from all 3 ratings agencies
- § 28 counties
- 8,400 square miles, 22,000 square kilometers
- § 9th largest U.S. population center
- 5.5 million
- projected to reach 8.5 million by 2040
- § GDP $270.0 billion
- forecasted to grow to $440.0 billion by 2040
- § More than 80% of U.S. consumers can be reached from Atlanta in two flight hours or two truckload delivery days
Hartfield – Jackson Atlanta International Airport: The World’s Busiest and Most Efficient
- § #1 in the world in passenger volume (c. 90 million)
- § Ranked world’s most efficient airport by Air Transport Research Society (2010)
- § Over 2,700 daily departures and arrivals
- § Nonstop flights to over 80 international markets and 156 domestic markets
- § Air cargo capabilities and perishables center on airport site
- § Maynard H. Jackson, Jr. International Terminal scheduled to be completed by spring 2012
Atlanta: Pre-Eminent Logistics Hub in U.S.
Highways
- § 3 interstate highways (I-75, I-85, I-20) (one of only 5 U.S. cities)
Rail
- § The Rail center of the South
- § CSX Transportation and Norfolk Southern each operate more than 100 freight trains daily
- § Overnight freight service available from major ports
- § One of the largest inland ports in the world
Sea
- § Atlanta is 400 kilometers (250 miles) from the Port of Savannah, the nation’s fastest growing and 4thlargest
- § Panama Canal expansion 2014
Talented Workforce
- § 2.6 million in the workforce
- 250,000 available for work
- § 34.1% of population 25 years and over have completed higher education with a bachelor’s or post-graduate degree
- § Median age of workforce: 39.7 years old
- § Among top ten in college-educated 25-34 year olds
- § 3rdlowest unionization rate in the nation: 4.0%
- § Georgia is a right-to-work state
- workforce cannot be forced to join a union
- § Georgia is an employment-at-will state
- employer can make terminations for good, bad or no cause at all
Georgia has an internationally acclaimed workforce development program -QuickStart
Higher Education
- § Top higher education center for enrollment growth, degrees awarded & research spending
- § 57 colleges & universities in the metro Atlanta region enroll more than 250,000 students each year
- § 8 technical colleges enroll more than 48,000 students each year
- § HOPE (Helping Outstanding Pupils Educationally) – tuition scholarship and grant program for higher education in Georgia
Metro Atlanta Chamber – Economic Development
Supply Chain & Advanced Manufacturing:
- § Supply Chain – Supply chain management software, hardware and services; air cargo carriers and routes; distribution services; transportation & logistics.
- § Advanced Manufacturing –energy; food processing, electronics, automotive; aerospace
Technology:
- § Digital media and content; internet and network security; software development & engineering; wireless applications & services; financial transactions processing
Bioscience & Health IT:
- § Medical device; health IT; vaccine R&D; cardiovascular R&D; regenerative medicine R&D, animal/plant biotech; pharmaceuticals
Corporate Operations & Business Services:
- § Corporate headquarters; professional services, i.e., engineering & architectural design; graphic design & marketing; financial services and insurance
Turner Broadcasting and Cable Television
The city is a major cable television programming center. Ted Turner began the Turner Broadcasting System media empire in Atlanta, where he bought a UHF station that eventually became WTBS. Turner established the headquarters of the Cable News Network at CNN Center, adjacent today to Centennial Olympic Park.
As his company grew, its other channels—the Cartoon Network, Boomerang, TNT, Turner Classic Movies, CNN International, CNN en Español, HLN, and CNN Airport Network—centered their operations in Atlanta as well. Turner Broadcasting is a division of Time Warner. The Weather Channel, owned by a consortium of NBC Universal, Blackstone Group, and Bain Capital, has its offices in the Cumberland district northwest of downtown Atlanta.
Arts, Culture & Entertainment
In 2010, American Style Magazine ranked Atlanta as the ninth-best city for the arts. The renowned High Museum of Art is arguably the South’s leading art museum and among the most-visited art museums in the world. From a stately home on Peachtree Street to its current award-winning buildings, the High Museum of Art in Atlanta has doubled in size and launched partnerships with major institutions such as the Louvre and New York’s Museum of Modern Art.
The museum boasts a renowned collection of classic and contemporary art and renowned architecture by Richard Meier and Renzo Piano. Atlanta is also home to the Alliance Theatre, in 2007 this amazing world class theatre won a Tony Award, placing it among the nation’s leading performing arts venues.
The Atlanta History Museum at the Atlanta History Center is one of the largest history museums in the nation, featuring award-winning signature exhibitions that tell the story of the region’s people, from its earliest settlers to the international city of today. The famous civil rights activist Martin Luther King, Jr. is from Atlanta and The Martin Luther King, Jr., National Historic Site includes a number of facilities where the visitor can learn about Dr. King’s life and his unprecedented influence on others.
Sports & Recreation
The greater Atlanta area has numerous professional teams including the 1995 World Series winning Atlanta Braves, the National Football League’s Atlanta Falcons, the NHL’s Atlanta Thrashers and the National Basketball Association’s Atlanta Hawks. In 1990, Atlanta was selected as the site for the 1996 Summer Olympic Games.
Following the announcement, Atlanta undertook several major construction projects to improve the city’s parks, sports facilities, and transportation. Atlanta hosted the NCAA Final Four Men’s Basketball Championship most recently in April 2007.
Whether it’s in the breathtaking mountains, the sprawling countryside or along the picturesque coast, new golf courses are springing up in every corner of the state. According to the National Golf Foundation (NGF) the game’s recognized authority on industry demographics, Georgia in 1990 was home to 324 total golf courses, ranking Georgia 15th nationally. In 1997, the number of courses in Georgia climbed to 413, a 27-percent increase.
Atlanta is also home to Atlanta Motor Speedway, Six Flags over Georgia Amusement Park, White Water Six Flags water park and the Atlanta Botanical Gardens is home to the Canopy Walk, a 600-foot elevated walkway ambling 40 feet from the ground through a 15-acre forest of mature hardwoods, and the only canopy-level pathway of its kind in the United States.
Atlanta has a reputation as the “city of trees” due to its abundance of trees, unique among major cities, the skyline gives way to a dense canopy of woods that spreads into the suburbs. The nickname is factually accurate, as the city’s tree coverage percentage is at 36%, the highest out of all major American cities. With beautiful outdoor areas like Piedmont Park, Grant Park and the Beltline, Atlanta offers all of it’s citizens and visitors many outdoor activities they can enjoy including miles and miles of bike paths and walking trails.
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The Advantage of the Atlanta Market:
Being one of the top 10 largest metro-areas and having the #1 busiest airport in the US, Atlanta commands long term stability. Add to that gorgeous weather year round, golf, and the fact that Atlanta is one of the most affordable cities in the US and it is clear why it is becoming a popular retirement destination as well.
Rebounding from the economic downturn, Atlanta is now at the early stage of an expansion cycle and has aggressive growth projections in terms of both population influx and job creation over the next 9 years.
The Atlanta Metro Chamber of Commerce Predicts a growth rate of 90,000 people moving to Atlanta per year and 60,000 jobs being created in Atlanta per year from 2011-2020.
When you put all three of these factors together–long term stability/appeal, aggressive growth projections, AND the most advantageous price-to-rent ratio we have seen–you get the perfect storm for real estate investors!
The prices of Atlanta properties have recently started to rise, so the time to buy is now before this historic window is closed.
QUICK FACTS
City:
Atlanta (city)
County:
DeKalb and Fulton County
State:
Georgia
Population count 2011 est.
432,427
Population , percent change, April 1, 2010 to July 1, 2011
3.0%
People 65 and over, 2010
9.8
Mean travel time to work (minutes), 2007-2011
25.4
Housing units, 2010
224,573
Homeownership rate, 2007-2011
47.0%
Housing units in multi-unit structures, 2007-2011
53.9%
Median value of owner-occupied housing units, 2007-2011
$228,000
Households, 2007-2011
179,089
Persons per household, 2007-2011
2.18
Median household income, 2007-2011
$45,946
Total number of firms, 2007
50,970
Land area in square miles, 2010
133.15
Persons per square mile, 2010
3,154.3