Besides being Georgia’s capital and the 9th most populous city
in the United States, Atlanta is a commercial hub that is unparalleled by any
other city in the country. It is the
home of the world’s busiest airport and more than 75 percent of the Fortune
1,000 companies, which means that the commercial real estate market within the
city suffered less than most other cities in a down-turned economy and has
bounced back faster. In fact, within the
last 10 years, Atlanta has continued to grow to such an extent that it has
become the second fastest growing metropolitan area in the United States.
In addition to this, Georgia has held a solid reputation of
being a “pro-business” state. Through
incentive programs on both the local and state level, many Fortune 1,000
companies have moved their headquarters to Atlanta—companies such as The Coca-Cola
Company, Home Depot, United Parcel Service, Delta Air Lines, AT&T Mobility,
and Newell Rubbermaid, to name a few. Other companies have followed suit, such
as Arby's, Chick-fil-A, Earthlink, Equifax, First Data, Foundation Financial
Group, Gentiva Health Services, Georgia-Pacific, NCR, Oxford Industries,
RaceTrac Petroleum, Southern Company, SunTrust Banks, Mirant, and Waffle House.
Because of the enormous commercial potential the city holds,
the Atlanta commercial market contains approximately 1,051,675,654 square feet
of office, industrial, and retail space, with approximately 14.17 percent vacancy.
Since the city is known as one that is
extremely economical for conducting business, it was ranked 3rd by KPMG’s “Top
Cities With Tax Structures Favorable to Business” (2008) and 4th in Forbes
“Best Cities for Jobs in 2008.”
Although Atlanta’s commercial real estate market suffered
with the rest of the country during the recent economic downturn, is has
remained one of the top places in the nation to grow and run a business. This is why business owners continue to flock
to the city to develop and expand their businesses, and why job seekers
continue to find an ample job market within the city compared to other parts of
the country.
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