Georgia’s trade and investment ties with Sweden support 10,818 jobs, according to an updated report that puts the state among the top 10 beneficiaries of economic engagement with the Scandinavian country.
About a tenth of the jobs come from Georgia exports to Sweden, from professional and other services (1,191 jobs) to the $96 million worth of goods like chemicals, machinery and minerals (502 jobs).
But the bulk of the employment — 9,500-plus jobs — stems from the local operations of Swedish companies like ABB, Thomas Concrete and Skanska.
The report — conducted by the Swedish Embassy in Washington in partnership with the Swedish American Chamber of Commerce USA — underscored how Sweden punches above its weight when it comes to impact on the American economy.
A country 1/30 the size of the U.S. population (10 million people) is the No. 15 investor nation, creating more than 360,000 direct jobs and more than a million when factoring in downstream impacts.
The stock of Swedish investment has more than doubled from 2008 to $52.7 billion, reflecting the economies’ shared commitment to innovation, Swedish Ambassador Karin Olofsdotter said in announcing the third edition of the report, which showed steady job growth as the countries celebrated 200 years of diplomatic ties in 2018.
“At present, the United States is Sweden’s largest trading partner outside Europe and the third largest export market for Swedish companies. This is a driving force behind job creation and growth in both countries,” Ms. Olofsdotter said.
Georgia’s Swedish-backed jobs total decreased from the last edition (in 2014) from nearly 12,000, but it still far surpassed those of nearby competitors like South Carolina (5,129) and Alabama (4,164).
Georgia is also home to more than 46,000 the U.S.’s 3.9 million residents of Swedish descent.
The state is also home to a local branch of the Swedish-American chamber: SACC-Georgia, which helps drive a lot of the state’s Sweden-focused activity.
Join the chamber or learn more here.
View the full jobs report here.