Economy

Georgia’s 2004 total gross state product was $343 billion[2]. Its per capita personal income for 2003 put it 31st in the nation at $29,000.

Georgia’s agricultural outputs are poultry and eggs, pecans, peanuts, rye, cattle, hogs, dairy products, turfgrass,and vegetables. Its industrial outputs are textiles and apparel, transportation equipment, food processing, paper products, chemical products, electric equipment. Tourism also makes an important contribution to the economy. Georgia is home to the Granite Capital of the World (Elberton). Atlanta has been the site of enormous growth in real estate, service, and communications industries.

Atlanta has a very large effect on the state of Georgia and the Southeastern United States. The city is an ever growing addition to communications, industry, transportation, tourism, and government.

Industry in Georgia is now quite diverse. Major products in the mineral and timber industry include a variety of pines, clays, stones, and sands. Textile industry is located around the cities of Rome, Columbus, Augusta, and Macon. Atlanta is a leading center of tourism, transportation, communications, government, and industry. Some industries there include automobile and aircraft manufacturing, food and chemical processing, printing, publishing, and large corporations.

Numerous United States Naval and Air Force bases are located in Georgia. These include Fort Stewart, Hunter Army Airfield, Naval Submarine Base Kings Bay, Fort Benning, Moody Air Force Base, Robins Air Force Base, Naval Air Station Atlanta, Fort McPherson, Fort Gillem, Fort Gordon, and Dobbins Air Reserve Base.

Georgia’s personal income tax ranges from 1 percent to 6 percent within 6 tax brackets. There is a 4% state sales tax, which is not applied to prescription drugs, certain medical devices and groceries. Each county may add up to a 2% SPLOST. Counties participating in MARTA have another 1%; MARTA is one of the few metropolitan transit authorities not to receive state funding. The city of Atlanta (in three counties, Fulton, Dekalb, and Clayton) has the only city sales tax (1.25%, total 8.25%) for fixing its aging sewers among other things. Local taxes are almost always charged on groceries but never prescriptions. Up to 1% of a SPLOST can go to homestead exemptions. All taxes are collected by the state and then properly distributed according to any agreements that each county has with its cities.

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