Savannah Chamber

Savannah-Economic-Trends-2025

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28 1 tenants in the Savannah Chatham Manufacturing Center from pad construction to certificate of occupancy to meet the aggressive production goals of HMGMA. SEDA was awarded the 2024 McKinley "Mac" Conway Award for Excellence in Economic Development for the sixth year in a row by Site Selection magazine. 2024 kicked off with the announcement of the Regional Industry Support Enterprise (RISE), a new regional workforce coalition that SEDA was proud to create. Since its development, the RISE team has secured funding commitments from eight counties to partner with RISE starting in 2025 including Bryan, Bulloch, Candler, Chatham, Effingham, Evans, Liberty and Screven Counties. Additionally, the RISE name and brand have been developed, established and shared through more than 90 presentations to organizations and individuals in the region and state. Working groups for each RISE initiative were developed and managed, employer forums were developed and enhanced throughout the region in partnership with local development authorities and the team planned and executed a trip for approximately 30 regional partners on a best practices summit in Bowling Green, Kentucky. A Board of Directors was formed for the new organization's operating entity. The RISE team planned and executed two hiring forums related to individuals under 18 and second-chance workers, as well as hosted a military hiring event for exiting service members, spouses, dependents and veterans. World Trade Center Savannah successfully hosted 10 Global Education Programs with a total of 800 attendees in 2024. The World Trade Center Savannah team returned to Ireland in August 2024 accompanied by leadership from the Georgia Department of Economic Development, the Metro Atlanta Chamber and Georgia Southern University, where the group met with Irish businesses and civic leaders in Wexford, Limerick, and Dublin, including strategic meetings with World Trade Center Dublin, to further advance the TradeBridge program and its mission through civic, tourism, education and economic development efforts. World Trade Center Savannah proudly hosted the King and Queen of the Netherlands during their visit to Savannah, playing a crucial role in developing and executing the programming during their visit to the U.S. World Trade Center Savannah also led its first trade mission to India where it was named the recipient of the World Trade Centers Association North America Regional Member of the Year Award and the Champion Award for Reciprocity and Network Support during the 54th Global Business Forum. 2024 brought 19 inbound delegations from countries including the Netherlands, United Kingdom, Vietnam, Germany, Canada, Australia and Ireland. Throughout 2024, World Trade Center Savannah made significant strides in fostering business and cultural relations with Ghana. This initiative peaked with the historic city-to-city signing ceremony between Accra, Ghana, and Savannah in the spring, formalizing the partnership that the two regions share. Moving forward into 2025, SEDA will continue to serve the region by marketing the Savannah region to attract industries and serve existing industries. SEDA will continue to focus on addressing workforce needs as identified by the 2023 workforce study released by the Savannah JDA and expects to release a housing study in Q1 of 2025. In Bryan County, headlining activity, mentioned above, continues to be development associated with the Hyundai Motor Group Metaplant America electric vehicle manufacturing facility. HMGMA increased employment by about 800 workers to a total of just over 1,100 from 2023 to 2024. Continued employment growth is anticipated in 2025 as production continues the ramping up process. The first Ionic 5 SUV rolled off the assembly line in the fall of 2024 and the first of the all-new Ionic 9 three-row SUV will begin production in early 2025. The Metaplant is the only facility in North America to build the Ionic 9 vehicle. Bulloch County's 55 manufacturing establishments employed 2,200 workers as of mid-2024. Five industrial projects announced for Bulloch County since 2022 will continue to enhance the manufacturing base well into 2025 and beyond. Overall, the announcements represent over 1,600 jobs and $1.1 billion in private investment. Four companies (Joon Georgia, Hanon Systems, Ecoplastic, and Aspen Aerogels) in the supply chain for the Hyundai Metaplant comprise the large majority of new jobs and announced investment. Effingham County's manufacturing sector also saw strong gains in 2024, with nine new manufacturers commencing operation and employment increasing by 18% to over 2,700 workers. This upward trend is expected to persist, bolstered by the continued ramp- up of Sewon America, a Tier 1 Hyundai supplier. Currently employing 300 workers, Sewon America is on track to grow to 740 employees by 2029, solidifying its role as a major employer and economic driver for the county. While new project inquiries in Effingham slowed in 2024 following the completion of the Hyundai Metaplant and Tier 1 supplier facilities, the decline aligns with the exceptional surge of activity seen in 2023. Manufacturing inquiries unrelated to the Metaplant have remained steady, indicating sustained interest in Effingham County's competitive industrial landscape.

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