Savannah Chamber

33 of Georgia is focusing its cyber activities in Augusta. The opening of the Georgia Cyber Innovation and Training Center at Augusta University's Riverfront Campus will spur innovation and train cybersecurity workers to support the large cluster of cyber security activity that is developing in the Augusta MSA. The strong recent performance and good prospects for Augusta's economy also reflect many major private-sector economic development projects that were announced over the last five years: Manus Bio, Starbucks, EdenCrete, Textron Specialized Vehicles, ADP, and Unisys. In mid-2018, the Sitel Group announced plans to hire 500 additional full-time employees at its Augusta call center. Once filled, the new hires will bring Sitel's total employment in August to 1,200. The Sitel Group added 400 positions in the preceding 12 months. In addition, in mid-2018, Manus Bio announced the creation of up to 50 jobs through the acquisition of a manufacturing facility in Richmond County. In 2017, Starbucks announced that it would expand its roasting plant, creating 100 additional jobs. The Starbucks expansion is scheduled for completion by the end of 2018. In 2016, EdenCrete announced that it would establish its global manufacturing headquarters in Augusta, creating over 250 jobs. EdenCrete makes carbon nanotubes enriched concrete that improved many characteristics of concrete used in infrastructure projects. Textron Specialized Vehicles announced that it would expand its presence in Augusta by opening a new manufacturing facility that will require about 400 additional workers. In 2015, ADP announced that it would expand its Augusta facility, creating 450 jobs in Augusta over several years. ADP's Augusta Solutions Center provides cloud-based human capital management to large and small businesses. In 2014, Unisys, an IT company, announced that it would create up to 700 jobs (over five years) at a new service center in Richmond County. Less positively, the 2018 closure of Hollander Sleep products manufacturing and distribution facility in Thomson cost the area 225 jobs. In 2018, Georgia Pacific announced that it would lay off 55 workers in Richmond County. In addition, the 2017 closure of Fibrant – a chemical company that had operated in the area for over 50 years – cost the Augusta area up to 600 direct and contractor jobs. Although Augusta's undersized information and financial activities industries spared the region from the restructuring that has plagued these sectors, it also may limit opportunities for renewed growth in those industries. Low per capita personal income and low overall levels of educational attainment are also negatives for the area. The housing situation is good. Housing activity and home prices will be on the upswing in 2019, which bodes well for homeowners, homebuilders, home renovators, and businesses that depend on consumer spending. The peak-to- trough decline in single-family home prices was 15 percent. The decline in home prices was smaller than experienced by either the state or the nation, but despite fast-paced economic growth Augusta's home prices have been slower to recover. Existing home prices peaked in the first quarter of 2009 and bottomed out in the first quarter of 2014. In the third quarter of 2018, Augusta's home prices were 3 percent above their peak level, and were up 5 percent on a year- over-year basis. Due to strong population and job growth, the pace of home price appreciation will not slow very much in 2019. In terms of new construction, the upturn in single-family homebuilding began in 2013 and gained traction in 2014-18. Prospects are good for Augusta's homebuilders in 2019. Optimism for homebuilders and home prices reflects the 3,400 jobs added in 2017, the 8,700 jobs added in 2018, and the 5,400 jobs expected in 2019. Due largely to job growth, the net migration of people to Augusta is very positive. In order, the major migration flows into Augusta are from Columbia SC, Atlanta, Honolulu HI, Salinas CA, Killeen TX, Baltimore MD, Austin TX, El Paso TX, Savannah, and Fayetteville NC. In addition, mortgage rates will still be affordable. Sustained increases in home prices will boost small business activity. Small businesses therefore will contribute more to Augusta's growth in 2019 than in recent years, helping to broaden the base of Augusta's impressive economic expansion. Brunswick In 2019, Brunswick's employment will rise by 1.2 percent, or 500 jobs. The number of jobs created therefore will be higher than the gains realized in 2018 – 300 jobs – and 2017 – 200 jobs, but smaller than in either 2016 – 1,500 – or in 2015 – 1,300 jobs. The leisure and hospitality industry, the Port of Brunswick, the housing recovery, and the in- migration of more new full-time and part-time residents will power economic expansion in 2019. The housing bust hit the metro area very hard, but Brunswick was not very exposed to the restructuring of the information, manufacturing, financial activities, or professional and business services industries. The area's economy depends very heavily on one of the most cyclical industries – leisure and hospitality. That focus bodes well for the 2019 economic outlook but hurt

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