European companies are the number one international investors in Georgia, with 58% of the $19.1 billion invested in the Georgia economy from around the world — or $11.1 billion — coming from Europe, according to a report released Wednesday, April 26, by the European American Chamber of Commerce in Washington D.C.
The report says that European investment in the state supports 95,600 jobs, 39% of which are in “high paying” manufacturing.
Meanwhile, the reports adds, Europe is Georgia’s number two export market and in 1993 Europe bought $2 billion worth of Georgia goods.
Georgia’s top exports to Europe include industrial machinery, transportation equipment, paper products, chemicals, nonmetallic minerals, instruments, electronics, textiles, agricultural products and tobacco.
“We constantly hear that the globalization of our economy is a threat to the well-being of workers in the U.S. because multinational companies prefer to invest in low-wage countries,” said Willard M. Berry, president of the chamber. “But, in reality, more and more international companies are investing in new plants and equipment and creating more jobs right here in the U.S.”
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