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Yoonie Kim is no stranger to public accolades. Her work welcoming Korean investors to Georgia has often been commended by Georgia Department of Economic Development Commissioner Pat Wilson and others at Korea-focused events.
But a shoutout by Gov. Brian Kemp during his State of the State address last week may be the pinnacle of such mentions, especially considering the standing ovation Ms. Kim received from both chambers of the state legislature.
The sharp focus on Korean investment illustrates the country’s importance to the state’s recent hot streak in the renewable energy and automotive sectors.
It also comes as the legislature will once again be considering the budget for the economic development department, which re-ups on its funding every year.
Recognized as the top state for business nine years running by Site Selection magazine, Georgia in the past year has announced four of the largest projects in the state’s history — totaling 20,000 promised jobs and $17 billion in committed investment.
Mr. Kemp was presumably referencing the $5.5 billion Hyundai Motor Meta plant near Savannah, a more than $4 billion battery facility Hyundai and SK On are planning in Cartersville, the $2.6 billion Freyr Battery facility in Newnan, and the recent announcement that Qcells would spend an additional $2.5 billion to bring more of the solar supply chain to the state.
All of the above are foreign-owned investments, with three out of four of them coming from South Korea, with which Ms. Kim has been working dutifully amid a generational influx of companies and capital as the Georgia becomes an increasingly important hub for the auto industry’s transformation.
Having her stand to be recognized, the governor said Ms. Kim has “been instrumental in bringing literally billions of dollars and thousands of jobs to Georgia communities.”
Zooming in a bit, the governor noted that the first six months of the new fiscal year, which runs from July to December, the department welcomed $13 billion in investment and 17,500 new jobs.
“Those good-paying jobs are in fields that will define the next generation of manufacturing, and that future will be made right here in Georgia,” Mr. Kemp said. “And we aren’t slowing down.”
He acknowledged that the state’s future success is not a given and will take concerted efforts to address issues like housing affordability, particularly the ability to ensure the workers powering these new plants to can live close to their new jobs.
He announced a proposal for a new Rural Workforce Housing Fund, which would provide $35.7 million to help local authorities prepare sites for housing developments that would aid upcoming investment projects.
The fund would be run through the OneGeorgia Authority, a rural-focused discretionary fund run by the Georgia Department of Community Affairs to provide loans and grants for land acquisition, infrastructure development, machinery purchases and other assistance to companies and entrepreneurs.
Workforce housing has long been used in other countries, but calls for its adoption are gaining steam in the U.S. as housing costs rise, commutes lengthen and qualified workers become more scarce.
Armed with a $6 billion budget surplus, the governor also touted the $1.9 billion he has proposed for public education at all levels to “grow a generation of highly skilled workers.” His fiscal year 2024 budget introduces another $2,000 pay raise for teachers on top of the $5,000 enacted last year, and Mr. Kemp pledged to grow the teacher pipeline by streamlining the process for paraprofessionals to get certified.
The proposal also aims to bring HOPE Scholarship funding back to 100 percent of university tuition more than a decade after it was tweaked to preserve funds. At its outset in 1993 under then-Gov. Zell Miller, the lottery-funded program covered the full cost of tuition for those students who maintained a B average for four years.
Mr. Kemp’s address also recognized members of law enforcement following a tense week of violent riots surrounding a police training center in Atlanta. He outlined initiatives to fight human trafficking, address gang violence and keep violent offenders off the streets.
He also touted the state’s Medicaid waivers and his administration’s approach to improving access to health care statewide.
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