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Techlanta - Georgia’s Economic Development
Described as “one of the most important commercial, financial, and transportation centers of the southeastern United States,” Atlanta can definitely take some credit for the vitality of Georgia’s economy.
By extension, Atlanta-based Georgia Tech — which was established in the 1800s in response to the need for education in industrial technology and engineering to advance Georgia from beyond its agrarian origins — has historically been a symbol of progress in Georgia.
Today, it is still linked to the state’s economic growth and development.
Statistics from the University System of Georgia’s most recent economic impact survey (April 2016) clearly bear out the Institute’s contribution to Georgia’s economic development: Georgia Tech’s annual impact on the state’s economy stands at $2.87 billion.
Reflected in this billion-dollar figure are thousands of on-campus jobs (with Georgia Tech being one of Atlanta’s largest employers), and more than 15,000 off-campus jobs made possible because of Georgia Tech-related spending.
“Georgia Tech is committed to continue working with both large corporations and startups to grow the entrepreneurial ecosystem in Atlanta and throughout the Southeast."
President G.P. “Bud” Peterson,
President, Georgia Tech
Georgia Tech has also been instrumental in developing the state’s economy by attracting major corporations to Atlanta, helping Georgia communities expand and manage their expansion, commercializing research ideas, and assisting entrepreneurs in getting their businesses off the ground.
ATDC offers classes and resources to Georgia's startups.
Atlanta Mayor Kasim Reed has acknowledged the importance of the city’s commercial and entrepreneurial culture to the region’s growth:
"Atlanta is the Southeast's technology, innovation, and entrepreneurship capital, with the third-largest concentration of Fortune 500 companies in the country.
We must take advantage of these unique assets to further stimulate our growing ecosystem of startups and growth-stage companies, connecting them to capital, talent, and mentorship.”
(Reed was speaking in January 2017 at the launch of Engage, an accelerator program and venture fund designed to offer programming and services through a contract with Georgia Tech’s Advanced Technology Development Center.)
Embracing Georgia Tech’s role as a national leader in promoting entrepreneurship and economic development, President G.P. “Bud” Peterson said:
“Georgia Tech is committed to continue working with both large corporations and startups to grow the entrepreneurial ecosystem in Atlanta and throughout the Southeast.
By engaging the business community to maximize our collective strengths, we can attract and grow new companies, foster economic development, and retain talent in Georgia.”