Writer: Gabriela Enamorado
3 min read September 2023 — In the midst of the rapid growth Atlanta is experiencing, the state capital is positioned to have a continued upward economic momentum. The last five years of growth was reflected on by key Atlanta figures at the Focus: Atlanta 2022-2023 Launch Conference earlier this month at Embassy Suites by Hilton Atlanta at Centennial Olympic Park. During the networking event and panel discussions, the regional business community discussed what contributes to Atlanta’s success and the opportunities that lie ahead for the region.
Abby Melone, president and CEO of Capital Analytics, moderated the opening panel, titled “How the last five years of economic development have shaped Atlanta and its future,” which featured panelists Gerald McDowell, executive director of ATL Airport Community Improvement Districts, Invest Atlanta President & CEO Eloisa Klementich, Jai Ferrell, deputy general manager and CMO of Hartsfield-Jackson Atlanta International Airport and Bennett Thrasher Managing Partner Jeff Call. The group discussed Atlanta’s evolution, focusing on what the upcoming years will look like and how to prepare for any upcoming headwinds as the nation’s economy returns to a high interest rate environment along with persistent inflation.
The conversation kicked off with Klementich highlighting some of the opportunities that Atlanta has uncovered in the post-pandemic environment. “We are looking at what we can do to help businesses continue to stay strong and help individuals with housing and job opportunities,” said Klementich. “Those are our focus areas. We are looking towards the future and learning from what we experienced in the past to understand what we could do differently and make sure that people continue to be successful in Atlanta.”
Business development and affordable housing are Invest Atlanta’s top priorities at the moment. So far in 2023, Invest Atlanta financed 270 affordable housing units and supported 270 small businesses through grants, loans and technical assistance, according to their website.
From an infrastructure perspective, Ferrell spoke about the role of Hartsfield-Jackson Atlanta International Airport in the region and its total direct economic impact of $34.8 billion in Metro Atlanta. Funding for new capital projects through the bipartisan infrastructure law will help the country’s leading airport stay on its growth trajectory.
“It’s our job to provide jobs,” said Ferrell. “We are the state’s largest employer, with 63,000 employers that work at the airport or are impacted by the work at the airport.”
The conversation shifted to communication between leaders as Call mentioned how they are seeing many private-public partnerships happening, with new businesses moving into the area, especially in the film and entertainment industry.
McDowell also brought up collaboration and coordination, noting how everyone in Atlanta is in it together. He said that in order for Atlanta to truly prosper, success needs to be for everyone. “Look south and see where there are opportunities. There are incredible opportunities in places like Clayton County, in South Fulton. There are over 60,000 acres of undeveloped land at a price point significantly lower than other parts of the region.” He drove home that success for Atlanta should mean success for the south metro region as well.
When thinking about the most effective tools for economic development, McDowell emphasized transportation and the need for “on-demand solutions” to meet residents and visitors expectations.
Call added that the professional services industry’s best tools are tax credits and incentives to attract developers in underdeveloped areas, such as the south metro area McDowell mentioned. He also mentioned some underutilized tax incentives such as the Georgia low-income house credits, Georgia Historic Credits as well as discounted loans.
Ferrell responded by emphasizing the importance of document hygiene and how many opportunities with developers are missed because of problems with this. Another point was understanding the opportunities and certifications offered to someone if they are a minority business operator.
In closing, leaders spoke about the biggest opportunities and challenges for Atlanta moving forward. From an airport perspective, Ferrell shared how traveler expectations have changed and how the airport is evolving to create a better experience from check-in to the gate.
“People want diverse options at the airport,” she said. “Everybody does not want to go through TSA pre-check. Some people want to be completely touchless, so we are doing a pilot launch of digital ID.”
Call focused on the migration of people into Atlanta, which creates a lot of opportunities for business as well as challenges such as traffic congestion.
Klementich finished off by listing the need for better transportation, affordable housing, healthcare access and fresh food access. For the near-term, she mentioned the 2026 World Cup as a pivotal moment to showcase everything Atlanta has to offer.
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