Governor Perdue Unveils Two New Economic Development Initiatives During Annual Economic Outlook Address

ATLANTA, GA – Governor Sonny Perdue delivered today the annual economic outlook address to the Georgia Economic Outlook luncheon and discussed his three pillars for economic growth in Georgia – supporting existing industries, providing small businesses the tools they need to grow and prosper, and investing in the strategic growth industries of the 21st Century. Governor Perdue also introduced two new legislative initiatives, the Entrepreneur and Small Business Growth Act and the Strategic Industries and Innovation Act.

“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,” said Governor Perdue.

The Governor’s Entrepreneur and Small Business Growth Act is designed to bolster small business growth in Georgia. The goal of the legislation is to ensure that future legislation and department rules and regulations do not harm small businesses.

In conjunction with this legislation, Governor Perdue 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. The Small Business Center team will join forces with the Office of Entrepreneur and Small Business Development to carry their work, such as 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,” said Governor Perdue.

The Governor’s Strategic Industries and Innovation Act will help ensure that Georgia’s business assistance programs are controlled, easy for companies to use, and produce results. This legislation will give an existing industry bonus to Georgia companies that are growing their workforce.

“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,” said Governor Perdue.

This legislation will supplement work done by the Commission for a New Georgia’s Task Force on Strategic Industries that has identified key industries that have a strong future and will create quality jobs. The Strategic Industries Loan Fund is stimulating the growth of strategic industries in economically distressed rural areas and Centers of Innovation are linking key industry clusters with University research and technical colleges.

The Governor’s prepared remarks are available at www.gov.state.ga.us.