Georgia business leaders say strengthening the state’s rural economy, extending expiring business tax breaks and investing in defense should be major priorities for its economic success in the future.
About 1,500 of Georgia’s top business leaders and lawmakers filled the Classic Center in Athens, Georgia, steps away from the University of Georgia for the 2024 Georgia Chamber Congressional Luncheon on Wednesday.
President and CEO Chris Clark said lawmakers should prioritize extending the state’s small business tax credits.
“If Congress doesn’t act, then you’re gonna see mom-and-pop small businesses in every little town in Georgia have federal tax rates that will be higher than the big international companies that are operating in Georgia,” Clark said.
Democratic Rep. Sanford Bishop Jr., who represents Southwest Georgia, would like to see a legislative measure that protects the rural agricultural industry.
“Farm producers are very, very stressed because of inflation, input cost and natural disasters,” Bishop said.
Representing the neighboring district, Republican Rep. Austin Scott spoke about supporting military bases and defending the state.
“Cyberspace and things that were not missions a few years ago are going to become a bigger part of the mission set going forward,” Scott said.
These issues will all be major considerations going into the upcoming legislative cycle, according to Clark. In the meantime, he added, Georgia is well-positioned to weather a potential economic downturn or recession in the near future.
Some attendees at the Georgia Chamber’s Congressional Luncheon said the state still lacks opportunities that could ensure its success in the years to come.
“I think if we can create some pipelines from our universities to the needs of our companies and helping develop the skill sets for the future, that will help retain recent grads here, as well as helping [to] meet the needs of the demands for our companies,” said Amanda Schroeder, senior vice president of external engagement at Georgia Research Alliance.
“When it comes to small businesses, we need nontraditional loans because a lot of times, banks won’t fund us to continue in our entrepreneurial journey,” said Lisa Guadalupe Clarke, founder and CEO of woman-owned human resources contractor ATL Search Group and Latinas Rise, an organization that supports Latina entrepreneurs.
Georgia State Senate-elect Rashaun Kemp said that fair pay is key for people to “sustain healthy and happy lives.”
“It is ensuring that they have wages that are going to allow them to live those lives to the best of their ability,” Kemp said.
