Savannah Chamber

45 28 Exports account for 24.1 percent of the Savannah MSA's GDP. Savannah is one of the nation's most export dependent metropolitan areas, ranking 21 st most export dependent of all U.S. MSAs. The main destination of Savannah's exports is Asia, which is the region most affected by the trade war. The second largest export market is the European Union, which is flirting with recession. The main export is transportation equipment. Valdosta In 2020, Valdosta's employment will increase by 0.3 percent, or 200 jobs, which is lower than the 0.7 percent and 2.0 percent growth experienced in 2018 and 2019, respectively. The trade war is the main barrier to faster job growth. Tariffs and other trade tensions reduce the prospects for agricultural sector, manufacturing, and transportation & logistics. In 2020, Moody Air Force Base, Valdosta State University, and leisure and hospitality will be the area's most dependable economic drivers. Valdosta's economy grows much faster than forecast should the trade war end. Health care is likely to emerge as a new economic driver. The area's health care industry can grow by expanding its share of the local market. Valdosta's healthcare industry can also prosper by pulling more patients from surrounding areas. Structurally, the Valdosta metropolitan area is extremely dependent on government jobs. The leisure and hospitality industry also accounts for a substantially larger than average share of the area's non-farm jobs. Retail trade and transportation also make large contributions to the local economy. In contrast, professional and business services, financial activities, and wholesale trade account for relatively low shares of non-farm employment. In addition, Valdosta is not overly depending on manufacturing jobs, with its share of manufacturing jobs slightly below both the U.S. and Georgia averages. Industrial diversity is relatively low, which makes the overall business environment riskier. High-tech jobs account for only 2.5 percent of the area's total jobs. Valdosta is not overly dependent on international trade. Exports account for 4.8 percent of the area's GDP. The area's top employers are Moody Air Force Base, South Georgia Medical Center, Fresh Beginnings, Valdosta State University, and Wild Adventures. The leading high-wage industries are the federal government and offices of physicians. The leading mid-wage industries are local government, automobile dealers, and building equipment contractors. The leading low-wage industry is restaurants. The Valdosta MSA includes Brooks, Echols, Lanier, and Lowndes counties. In 2020, continued growth in consumer spending will ensure that Valdosta benefits from its traditional role as a retail hub for extreme Southwest Georgia. Retail jobs account for a somewhat higher share of economic activity in the Valdosta MSA than in either the state or the nation. Nonetheless, like traditional retailers everywhere, Valdosta's retailers will face more competition from electronic commerce, which will limit retail job growth from increases in consumers' spending. Because Valdosta is a small MSA, the actions for the better, or for the worse, by one major company can determine the area's actual economic performance. In late 2019, CJB Applied Technologies announced an expansion that will create 10 jobs. In mid-2019, Arglass Yamamura announced plans to build its first U.S. glass container factory in Valdosta, which will create 150 manufacturing jobs. In early 2019, Better Way Products announced plans to set up a new fiberglass manufacturing facility in Valdosta, initially creating about 20 jobs, but with plans to ramp up to 86 jobs in three years. In addition, a couple economic development projects were announced in 2018. Metal Benderz decided to relocate its existing manufacturing operations in Marietta to Valdosta, bringing about 50 jobs within two years to Lowndes County. Metal Benderz said that Wiregrass Technical College factored favorably into their decision to locate in the Hahira Business Park. Georgia Beer Company broke ground on its first brewery in Valdosta-Lowndes County. The company plans to create between five and 10 jobs within two years. Less positively, there were two major layoff announcements in 2018. Convergys indicated that it would lay off 218 workers and Rivulis Irrigation Inc. announced that it would lay off 70 workers. The 2020 outlook for hospitality and tourism is good, which benefits Valdosta's economy. Valdosta will continue to leverage its location on I-75 as a convenient place for visitors bound for Orlando or Tampa to make their last overnight stay before arriving at their destination. Valdosta's central location between Atlanta, Jacksonville, and Tallahassee also works to the hospitality industry's advantage.

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