From a media release: Georgia surged to a record for business formation in 2019 with more than 165,000 businesses formed, according to Secretary of State Brad Raffensperger. This marks the first time new business formation surpassed 150,000 in a calendar year, a significant milestone for Georgia.
“Georgia’s record-breaking new business formation highlights how the state has become an economic powerhouse under a pro-business, free-market oriented administration,” Raffensperger said.
In 2019, more than 165,000 new businesses formed in Georgia, the highest number on record. This represented a 20,000 business surge from more 145,000 new businesses in 2018, a 14 percent increase. Most of that increase, totaling more than 19,000 new businesses, came from new Georgia-based businesses.
In a vote of confidence for Georgia’s appeal as a business friendly climate, the number of entities from out of state or country that set up shop in Georgia in 2019 jumped more than 9 percent. Between 2018 and 2019, more than 900 foreign entities registered in the state of Georgia, bringing business, investment and jobs to the Peach State.
In 2019, Georgia was ranked the top business climate in the country by Site Selection magazine for the seventh year in a row.