Georgia Power Named Top Utility for Economic Development
Georgia Power Named Top Utility in Economic Development for 26th Consecutive Year by Site Selection Magazine
Every year, the team at Site Selection Magazine analyzes the work of public utilities across the country and determines whose efforts have had the greatest impact on their communities. For the 26th consecutive year, the Site Selection team has named Georgia Power as a Top Utility in Economic Development. This prestigious recognition highlights the company’s pivotal role in attracting and supporting the investments that continue to shape Georgia’s economy and ensure that the Peach State remains the number one place in the country to do business.
Powering Growth with Record-Setting Investments
In 2023, Georgia Power’s economic development team facilitated more than $18 billion in capital investments, helping create more than 26,000 jobs across the state. These efforts have positioned Georgia as a national leader in attracting large-scale investments, with many major projects making headlines over the course of the year.
Among the year’s standout announcements was Qcells’ $2 billion solar module manufacturing expansion in Cartersville, which is set to create 2,000 new jobs. This project not only helps to cement Georgia’s role as a leader in the clean energy sector but also aligns with the state’s broader commitment to sustainability and innovation.
Other significant wins came from Finland’s ADMARES, which announced a $750 million investment in a manufactured building and home products facility in Cartersville, and QTS, who announced a $4 billion investment in three massive data center facilities in metro Atlanta. These announcements represent thousands of jobs and further illustrate Georgia’s crucial place both in international business and the digital economy of the future.
International Investments Fuel Success
Georgia’s appeal to international companies continued to grow in 2023, with foreign-based firms accounting for 40% of all new business locations in the state, 44% of the jobs created, and 41% of the total capital investment. Much of this success can be attributed to South Korean companies, led by Hyundai’s extensive electric vehicle supplier network, which supports its state-of-the-art “metaplant” near Savannah.
These international partnerships are critical to Georgia Power’s economic development strategy, which focuses on attracting diverse industries and fostering long-term growth. The influx of foreign investment reflects the state’s competitive advantages, including a skilled workforce, strategic location, and a robust infrastructure network.
Meeting the Energy Needs of Tomorrow
As Georgia Power continues to support these transformative projects, the utility remains committed to meeting the evolving energy demands of its customers. In 2023, the completion of Plant Vogtle Unit 3, the first newly constructed nuclear unit in the U.S. in over three decades, marked a historic achievement. This was soon followed by the activation of Unit 4 in April 2024, further enhancing Georgia’s clean energy capacity and reliability.
These advancements in energy infrastructure are crucial to supporting the state’s growing industries, particularly in sectors such as electric transportation and data centers, where reliable, sustainable energy is a key competitive advantage.
Building on a Legacy of Success
As Georgia Power celebrates this latest recognition from Site Selection Magazine, the company remains focused on building a reliable and prosperous future for the state. With continued investments in clean energy, infrastructure, and workforce development, Georgia Power is poised to continue its leadership in economic development, ensuring that Georgia remains a top destination for businesses worldwide.
To learn more about our commitment to keeping Georgia a top spot for business, visit our team at SelectGeorgia.com.