Writer: Eleana Teran
2 min read April 2024 — Atlanta, recognized for its rich history and vibrant culture, has carved out a reputation as a premier hub for business and innovation. The city’s dynamic growth and entrepreneurial spirit, anchored by an array of Fortune 500 companies and a burgeoning startup scene, offer multiple reasons why businesses and entrepreneurs should consider relocating to the Big Peach.
1. A business hub
Atlanta ranks as the second largest concentration of Fortune 500 companies nationwide, with major names like Coca-Cola, Delta, and Home Depot headquartered in the city. This robust corporate presence is bolstered by recent arrivals such as Athena Health, Carter’s, and even tech giants like MailChimp, enhancing the city’s profile as a top business destination. Atlanta’s rise in the corporate world is notable, moving from fourth place just three years ago to its current standing.
Atlanta’s allure extends beyond the traditional corporate sectors into creative industries, making it a relevant player in film and television production. Blockbusters such as Captain America: Civil War and hit series like The Walking Dead and Stranger Things have been filmed in the region, earning Atlanta a spot among the fastest-growing production cities in the country.
2. Unmatched business incentives
LinkedIn named Atlanta the best place to start your own business in 2023, highlighting the city’s business-friendly environment. This recognition is based on Atlanta’s remarkable year-over-year growth in new business founders, which stands at 92%. This top ranking is further supported by the city’s low operating costs, growing talent pool, and robust community of Black entrepreneurs, making it an ideal location for budding businesses and entrepreneurs.
Growing companies are attracted to Atlanta for the strong economic climate and the diverse array of industries, ranging from life sciences and financial technology to healthcare and manufacturing.
3. Quality of life
Known for its temperate climate and green spaces, Atlanta offers a vibrant living environment, complemented by its diverse dining and entertainment options. According to a WalletHub study, the city was ranked the fifth-best state capital to live in. This ranking was derived from an analysis of 48 key indicators, divided into four main categories: affordability, economic well-being, quality of education and health, and overall quality of life. These metrics highlight Atlanta’s strengths as a prime location for residents who value a balanced and thriving urban lifestyle.
4. A magnet for future talent
Atlanta has been recognized among the top 10 best U.S. cities for single young professionals by RentHop, thanks to its relatively high median nonfamily household income of $62,223 and a range of factors that underscore its career-friendliness. Notably, a WalletHub study ranked Atlanta as the top city to start a career, largely because of its robust job market and attractive economic conditions. The city stands out with its high number of entry-level jobs, offering the 11th highest number of positions per 100,000 working-age population. The city also has a strong annual job growth rate, ranked 23rd nationally and is adjusted for population growth.
Similarly, Atlanta was named the best U.S. city for remote work according to Coworking Cafe. The city offers essential remote work infrastructure and a culture that embraces flexibility, ensuring a balanced lifestyle. With a high coworking space and a public WiFi density, Atlanta is well-equipped for remote and hybrid work models.
5. A city of innovation with a thriving Startup scene
The startup ecosystem in Atlanta is vibrant and continues to expand, earning recognition as one of the top 15 best cities for startups in the United States by both TRUiC and crowdspring. This acclaim is due in part to the city’s very low corporate taxes, affordable fees, and a cost of living that is lower than that of many large cities, making it an increasingly attractive hub for emerging businesses.
Atlanta benefits from a strong academic presence, drawing potential employees from major schools like Georgia Tech, the University of Georgia, Vanderbilt, and Emory. The city also boasts a rich diversity, enhanced by its status as a significant hub for historically black colleges like Morehouse and Spelman, placing diversity at the forefront of its burgeoning startup scene.
Adding to its appeal, Atlanta has witnessed a surge in capital investment, with $2.1 billion invested, including $1 billion in the past year alone.
For more information visit:
https://www.investatlanta.com/
