Savannah Chamber

36 21 Macon From peak-to-trough the Macon MSA lost 8.8 percent of its jobs to the COVID-19 recession. The heaviest job losses were in leisure & hospitality and state & local government. The nation's and the state's job markets took harder hits than Macon's job market, but the initial three-month rebound in jobs was weaker in Macon than for the state. Specifically, the Macon MSA recovered only 28 percent of its job losses, which was roughly half the rebound posted by the state as a whole. The recovery from the COVID-19 recession will continue to be very slow. On an annual average basis, 0.2 percent job growth is expected for the area in 2021. Although overall employment will not expand very much, healthcare, hospitality, and construction will add jobs, but job losses in retailing, information, financial activities, and government will largely offset those gains. Economic development projects announced over the few two years will continue to build out in terms of their employment impacts on the MSA. The top employers in the Macon MSA are GEICO, Navicent Health Medical Center, Coliseum Health Systems, Mercer University, and Georgia Farm Bureau Federation. GEICO, the MSA's largest employer, recently expanded its operations. In 2020, GEICO should benefit from increases in insured amounts stemming from an expected increase in vehicle sales, consumers preferences for more expensive vehicle models, and increases in residential property values The Macon MSA includes Bibb, Crawford, Jones, Monroe, and Twiggs counties. Over time, Macon's economy will benefit from its focus on transportation and logistics, financial activities, higher education, healthcare, and professional and business services. The area's large, healthcare industry is a short- and long-term strength. Manufacturing, professional & business services, and government account for below average shares of the MSA's economic activity. The leading high-wage industries are offices of physicians, the federal government, and rail transportation. The leading mid-wage industries are insurance carriers, colleges & universities, and general medical and surgical hospitals. The leading low-wage industries are state & local government and restaurants. Macon's direct dependence on exports is very limited. Exports account for only 1.4 percent of the area's GDP. Thus, a retreat from globalization and the trade war have manageable direct implications for the Macon MSA. Macon's role as a center for transportation and logistics will serve the area very well, but the industry is very cyclical. Macon is located strategically at the intersection of I-75 and I-16, has two railroad lines, is home to the largest rail- switching center on the East Coast, and benefits from a good airport that is used by local residents as well as others from throughout much of South Georgia. The Port of Savannah is accessible on relatively uncongested roads. In addition, it is a short drive to the air cargo and cold storage facilities at Hartsfield-Jackson International Airport. These factors create a near perfect low-cost location for multimodal distribution. Overtime, Macon's economy will become even more focused on transportation and distribution. Manufactures that wish to fully integrated production with distribution and logistics will favor sites in Macon. Macon's central location also makes the area a good place to host statewide meetings or conventions. Macon's central business district is redeveloping in ways that should appeal to tourists, especially given its close proximity to a large number of beautifully preserved historic homes. Macon, however, has yet to develop fully this advantage. Nonetheless, once the pandemic is over, the hospitality industry will be a positive force for growth. Macon's hospitality industry could benefit substantially should proposals to create an Ocmulgee National Park and Preserve from the Ocmulgee National Monument and other public lands come to fruition. The Macon MSA's role as a remote bedroom community for the southern portion of the Atlanta MSA will expand, further stimulating the economic development of Macon's northern suburbs. About 4.3 percent of workers living in Macon commute to jobs in Atlanta. Atlanta's economic expansion therefore will benefit Macon. The driving time to Atlanta's Hartsfield-Jackson International Airport from downtown Macon often is no greater than from the northern portions of the Atlanta MSA. As Atlanta becomes more congested, sites in Macon will become more attractive to households, private businesses, and state government operations. The city's expansive historic district, places of special interest and revitalization efforts also make Macon an even more attractive hub for business. Some factors will limit the area's economic growth. Outmigration is a long-term problem, but recent data is encouraging. Outmigration slowed and the population stabilized in 2018-2019. Macon's population will not grow very much in 2020, however. It is especially worrisome that too many young adults and middle-aged adults – who are in

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