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Text Size12/09/2004 22nd annual Georgia Economic Outlook luncheon
Prepared Remarks of Governor Sonny Perdue
22nd annual Georgia Economic Outlook luncheon
(Note: The Governor sometimes deviates from prepared remarks)
Thank you, President Adams, Dean Benson. And thank all of you for being here today.
When I gave my first Georgia Economic Outlook address two years ago, the economic picture was pretty grim. In fact, you might recall that I actually delivered my remarks via satellite from a remote location. That's how bad it was.
Today, I don't need to borrow Dick Cheney's bunker, although I hear I would really enjoy some of his undisclosed locations. Bottom line…Things are looking up.
Dean Benson and Dr. Behravesh will give you the professional economists' perspective. I'm not going to compete with them on the technical details, even though my meeting with my Council of Economic Advisors this morning certainly prepared me to be as definitive and specific as any economist!
But, speaking as a trained veterinarian, I can say that our economy isn't back to roaring yet, but it's definitely purring nicely. Georgia companies have created more than 30,000 jobs over the last 12 months. And, as we announced yesterday, our state revenues are up 10.3% for the year to date.
For those of you who don't know this already… I am a pragmatic optimist. That means I believe tomorrow is going to be a sunnier day, even if I put an umbrella under the seat.
So despite the poor economic health when we began two years ago, I think we have made great strides in positioning Georgia in the global market place … while at the same time beefing up programs that will grow our small, homegrown businesses.
You've heard me say it again and again…the end goal here is creating jobs for Georgians. It's as simple as that.
How are we doing it? Three ways.
First, we're supporting our existing industries…our bread and butter… tourism, agriculture, and life sciences, to name a few.
I'm going to hone in on Tourism for a moment—one of our largest industries, supporting more than 200,000 jobs. I believe this is the tip of the iceberg. I've surveyed leaders in the private sector and they too believe we have untapped potential in Georgia Tourism.
When great minds think alike… why not put them together? We have… and the by-product is a Tourism Council, a public-private partnership charged with pooling our collective brain-trust and marketing dollars to showcase Georgia in all its glory.
What is the result? We have turned a state investment of $1.8 million into more than $2.6 million in private investment in Georgia Tourism. From Southern Living to National Geographic to Air Tran, we've laid the foundation for a true public-private partnership.
Another result: Georgia moved up in the rankings to become the 7th most visited state in the nation. And that's not all.
As some of you may know, I have taken over the Chairmanship of the Southern Governor's Association. As my platform for the next year, I have chosen to focus on Heritage Tourism.
This multi-state initiative will highlight what we consider the Soul of the South -- our heritage, our hospitality and our hometowns. And it will include those things we're so proud of in the South, such as food and music.
Recently, I attended the Country Music Awards. I know. You're thinking it was just an opportunity for me to put on my boots and kick up my heels for the night …which I did.
But it was also a chance for me build some relationships with an industry that is becoming a powerhouse in Georgia, particularly in Atlanta.
When a state can glide from Tricia Yearwood, Travis Tritt and Alan Jackson to Usher, Outkast, and producer Dallas Austin, I call that a two-octave range of talent shaping the face of music and we need to encourage them.
Oh, I bet you didn't think a boy from Bonaire was so hip about hip hop or R&B, did you? That'll teach you to judge a book by its cover.
Another huge event that took place since we last met was the G8 Summit at Sea Island. Hosting this event provided us a unique opportunity to showcase Georgia to the world, particularly Savannah and the Golden Isles.
During June, the month of the Summit, hotel revenue along the Coast was up 28% over last year.
Another benefit of the G8 Summit was bringing the global media to Georgia. 98 million people around the world saw articles and TV news stories mentioning Georgia in a positive light. That amounts to over $1 million worth of free advertising for our state as a destination.
It's paying off too. Conde Nast Traveler magazine recently named The Cloister at Sea Island – the site of the G8 Summit – as the Reader's Choice for Best Resort. Congratulations to Bill Jones and the whole Sea Island team who do a great job at world class events such as the G-8 as well as exceeding the every day expectations of the high demand leisure traveler.
The world is a big part of my thinking, because we operate in a global economy. Our competitors aren't just in Alabama and South Carolina … they're in Europe and Asia … Latin America and China.
But those are also the places to look for new customers and new partners. That's another way we're supporting our existing industries.
In the last two years, I have led trade missions to Asia, to Europe, and to Central and South America.
On each trip, I asked potential partners for new business. But I also made a point of thanking our existing customers for their investment in Georgia and letting them know how much we appreciate their business.
Again, we have seen results of those trips. Do the names Honda, Toyo Tires, LG Chem, Hyundai, Kia and Porsche ring a bell? Those are just some of the foreign companies I've met with in my travels who have begun new ventures or expanded operations in Georgia this past year.
We've also staked out Atlanta's claim as a leading contender to host the Secretariat of the Free Trade Area of the Americas. That would make our capital city the headquarters of the largest free trade zone in the world and be a huge boost to our economy and our global presence.
I told you I had three pillars of my economic strategy… number two is providing small business the tools to grow and manage the enterprises they've created.
You know, I'm a small business owner and this is where my heart is. I want aspiring entrepreneurs to succeed, because, as you well know, their success is Georgia's success.
President Ronald Reagan said, "Entrepreneurs are the forgotten heroes of America." Well, we can't afford to forget our entrepreneurs in Georgia.
In January, I will introduce an Entrepreneur and Small Business Growth Act designed to turbo charge small business growth in Georgia.
I'm only going to give you a few of the details today. But one important goal of this legislation is to ensure that when we're passing future legislation and when departments are developing rules and regulations, that we make sure we abide by the Hippocratic Oath in regards to small businesses, first seek to do no harm.
Too often the burden of unintended legislative consequences places a financial burden on companies large and small. We need to do a better job of anticipating and avoiding those problems at the outset rather than after we've put another stick in business's eye and have to come back and administer first aid.
Also in January, I will sign an executive order to move the Governor's Small Business Center from the Department of Administrative Services to the Department of Economic Development.
There, the Small Business Center team will join forces with the Office of Entrepreneur and Small Business Development to carry their work, like the Mentor-Protégé program, to every corner of the state. This move reflects a greater coordination of efforts throughout state government to make us more effective and efficient in meeting the needs of Georgians.
Again, this is only part of my total job growth legislative package. I don't want to raise the curtain on everything all at once.
But I'm feeling the Christmas spirit … so I'll give you a bit more.
The third pillar of my economic strategy is to invest in the strategic growth industries of the 21st Century. Through the hard work of my Commission for a New Georgia, and with input from many of you in this room, we are defining a road map to the future.
The Commission formed a Task Force on Strategic Industries that has identified key industries that have a strong future and that will create good jobs.
We're now targeting state resources to help these industries flourish in all regions of the state. We've created a Strategic Industries Loan Fund to stimulate the growth of strategic industries in economically distressed rural areas. And we've established Centers of Innovation to link key industry clusters with University research and our technical colleges.
The next step to in this strategy will come in January when I introduce my Strategic Industries and Innovation Act.
One purpose of this bill is to help ensure that Georgia's business assistance programs are controlled, easy for companies to use, and get the results they're intended to get.
This goes back to how we treat our existing customers. It has never made sense to me that a company relocating from New York should receive more state assistance than a firm that has roots here at home and is working to grow their Georgia investment.
So my legislation will amend BEST and give an Existing Industry Bonus to Georgia companies that are growing their workforce. When we take care of our own, we'll improve our business climate and become a more attractive location for new firms in the bargain.
The Strategic Industries and Innovation Act, along with the Entrepreneur and Small Business Growth Act, will boost our existing job growth strategy and help make Georgia even more competitive in the global economy.
It's my mission to get Georgia's job machine into tip-top condition. It's my vision to create lasting opportunity for Georgians.
If we make the right decisions now … if we act with the right balance of boldness and discipline … we can enjoy the kind of tomorrow we dream of.
More importantly, we can give our children and grandchildren the world of opportunities we want them to have.
So I thank all of you for the contributions you make to build our state.
And I thank you for believing … as I do … that Georgia's best days are still ahead.