Atlanta, GA, is a vibrant city with a diverse and thriving economy. Known for its southern charm and bustling urban energy, Atlanta has become a magnet for various industries, driving innovation and growth. Entrepreneurs looking to expand, start, or acquire a business in Atlanta are wise to understand the dynamic economic landscape. Here, we explore the top industries in Atlanta, GA, shaping the city’s future.
#1. The Aviation Industry: Flying High in Atlanta
Atlanta is a central hub in the aviation industry, notably home to the world’s busiest airport, Hartsfield-Jackson Atlanta International Airport. This bustling hub facilitates global trade and passenger travel, creating numerous business opportunities, supporting over 63,000 jobs onsite and generating an estimated $34.8 billion in annual economic impact in the Atlanta metro area. Companies in airline operations, aerospace manufacturing, and airport services find fertile ground for growth in Atlanta, benefiting from its strategic location, robust infrastructure, and skilled workforce.
#2. Film and Entertainment: Atlanta’s Hollywood Connection
Atlanta’s film and entertainment industry has been booming, earning it the nickname “Hollywood of the South.” With favorable tax incentives and various filming locations, metro Atlanta attracts numerous film and television productions. From July 2022 to July 2023, over 400 television, commercial, feature film, and music video productions were shot in Georgia, solidifying the state’s position as a film production hub. A study commissioned by the Georgia Screen Entertainment Coalition reported the film industry’s 2022 economic output at $8.55 billion, with a reported $5.54 billion in added economic value. This growth offers vast opportunities for businesses in production services, equipment rental, talent management, and ancillary services that support this sector.
#3. FinTech: Innovating Financial Services in the Heart of the South
Atlanta is rapidly becoming a hotspot for financial technology, or FinTech. Georgia has been dubbed “Transaction Alley,” with over 70% of all global financial transactions passing through companies headquartered in the Atlanta metro area. Georgia’s FinTech companies generate an annual revenue of more than $72 billion, underscoring the area’s role as a leader in financial innovation. FinTech companies in Atlanta are leading innovations in payment processing, cybersecurity, and financial software, creating a dynamic environment for businesses and startups in this space.
This industry’s growth is fueled by Atlanta’s strong financial services sector, the presence of major corporations, a strong talent pool from local universities, and a collaborative business environment conducive to growth.
#4. Healthcare and Biotechnology: Pioneering Medical Advancements
The healthcare and biotechnology sector in Atlanta is robust and continually evolving. The city boasts one of the fastest-growing labor pools in the country for life sciences. In addition, Atlanta secured $708 million in funding from the National Institute of Health, including funding directed to Emory University, Georgia Tech, and Georgia State. This funding and growing venture capital activity have contributed to Atlanta ranking 10th overall for total life sciences job growth (20% from 2019 to mid-2022) in a metro area. The city hosts renowned research institutions and hospitals, and businesses in this sector benefit from a collaborative environment that fosters innovation. Institutions like the Centers for Disease Control and Prevention (CDC) and Emory University’s healthcare system are pivotal in driving research and innovation, positioning Atlanta as a leader in medical advancements and public health.
#5. Logistics and Supply Chain Management: Atlanta as a Transportation Hub
Atlanta’s strategic location in the southeastern United States makes it a key player in logistics and supply chain management. The city’s extensive transportation network, including highways, railways, and the airport, positions it as a logistical powerhouse. This industry is vital for distribution, warehousing, and freight forwarding businesses, offering ample opportunities for growth and innovation. Georgia is home to 85% of third-party logistics companies, and the state was ranked number one for infrastructure and global markets. This industry is critical for the efficient operation of both local and national businesses, offering significant opportunities for growth and innovation in supply chain management.
Atlanta: Thriving Economic Sectors and Future Prospects
Atlanta, GA, is not just a cultural and economic hub of the South; it’s a city teeming with opportunities across various sectors. From aviation to FinTech and healthcare to logistics, industries in Atlanta’s industries offer fertile ground for businesses looking to start, expand, or innovate. Understanding these key industries in Atlanta, GA, is crucial for anyone looking to tap into its vibrant economic landscape. Our Atlanta division of Viking Mergers & Acquisitions is well-equipped to guide business owners through the opportunities and challenges of these sectors and more. Are you considering buying or selling an Atlanta business? We are here to help. Contact us today.
1. Source: Paige, Elliott. “Hartsfield-Jackson Atlanta International Airport: The Jewel of Georgia.” International Airport Review, N.p., www.internationalairportreview.com/article/177426/atl-airport-the-jewel-of-georgia/. Accessed 29 January 2024.
2. Source: “SPI’s Study on the Economic Impact of Georgia’s Entertainment Industry Tax Credit Published.” Olsberg-SPI, 6 November 2023, https://www.o-spi.com/news/spis-study-on-the-economic-impact-of-georgias-entertainment-industry-tax-credit-published. Accessed 2 February 2024.
3. Source: “Atlanta Fintech.” Online Optimism, N.p., https://www.onlineoptimism.com/resources/atlanta-ga-fintech-companies-landscape/. Accessed 2 February 2024.
4. Source: “The Global Capital.” FinTech Atlanta, N.p., https://fintechatlanta.org/. Accessed 2 February 2024.
5. Source: CBRE. “2023 Life Sciences Outlook: Emerging Markets.” 3 April 2023.
6. Source: Georgia Center of Innovation and Georgia Department of Economic Development. 2023. “2023 Georgia Logistics Summit Delivers Port, Logistics Strategies, Insights in Savannah, Georgia.” Georgia Department of Economic Development, 10 March 2023, https://www.georgia.org/press-release/2023-georgia-logistics-summit-delivers-port-logistics-strategies-insights-savannah-georgia.