World Library  
Flag as Inappropriate
Email this Article

Economy of Atlanta

Article Id: WHEBN0034630096
Reproduction Date:

Title: Economy of Atlanta  
Author: World Heritage Encyclopedia
Language: English
Subject: Atlanta, African Americans in Atlanta, Atlanta Empowerment Zone, Omenala Griot Afrocentric Teaching Museum, Nicknames of Atlanta
Collection:
Publisher: World Heritage Encyclopedia
Publication
Date:
 

Economy of Atlanta

The Coca-Cola world headquarters

Atlanta is one of ten U.S. cities classified as an "NCR, Oxford Industries, RaceTrac Petroleum, Southern Company, SunTrust Banks, Mirant, and Waffle House. Over 75% of the Fortune 1000 companies have a presence in the Atlanta area, and the region hosts offices of about 1,250 multinational corporations. As of 2006 Atlanta Metropolitan Area ranks as the 10th largest cybercity (high-tech center) in the US, with 126,700 high-tech jobs.[3]

Dominant sectors

The top employment sectors in Metro Atlanta are (November 2011, excludes agriculture):[4]
Sector Employees (thousands)
Trade, transportation, and utilities 530.3
Professional and business services 391.4
Government 311.9
Education and health services 282.3
Leisure and hospitality 218.3
Manufacturing 146.5
Financial activities 128.5
Other services 90.5
Construction 83.9
Information 73.7
Mining and logging 1.4

Finance

Atlanta has a sizable financial sector. SunTrust Banks, the seventh largest bank by asset holdings in the United States,[5] has its home office on Peachtree Street in downtown.[6] The Federal Reserve System has a district headquarters in Atlanta; the Federal Reserve Bank of Atlanta, which oversees much of the deep South, relocated from downtown to Midtown in 2001.[7] Wachovia announced plans in August 2006 to place its new credit-card division in Atlanta,[8] and city, state and civic leaders harbor long-term hopes of having the city serve as the home of the secretariat of a future Free Trade Area of the Americas.[9]

Invesco Ltd., an independent investment management company is headquartered in Atlanta, Georgia and has branch offices in 20 countries. Its common stock is a constituent of the S&P 500 and trades on the New York stock exchange. In December 2013, Invesco reported assets under management (AUM) of $778.7 billion[10]

Healthcare and biomedical

Atlanta is also home to a growing Biotechnology sector, gaining recognition through such events as the 2009 BIO International Convention.[11] Atlanta is also the headquarters of the Nuclear Regulatory Commission Region II.

Unincorporated DeKalb County is also home to the Centers for Disease Control and Prevention (CDC). Adjacent to Emory University, with a staff of nearly 15,000 including: engineers, entomologists, epidemiologists, biologists, physicians, veterinarians, behavioral scientists, nurses, medical technologists, economists, health communicators, toxicologists, chemists, computer scientists, and statisticians. CDC has 10 other offices throughout the United States and Puerto Rico, and other staff in 45 countries around the world.[12]

Manufacturing

The auto manufacturing sector in metropolitan Atlanta has suffered setbacks recently, including the closure of the [13]

Media and communications

The city is a major Cumberland district northwest of downtown Atlanta.

DeKalb County,[16] is the third-largest cable television service provider in the United States.[17]

Film and television

Atlanta is also a major center of television production and is the hub of the nation's fourth-largest film industry. Atlanta counts the presence of Turner Studios, which produces content for the Turner Broadcasting family of stations; since 2008 the Tyler Perry Studios in Southwest Atlanta; and since 2010 the EUE/Screen Gems soundstages in Lakewood Heights, south Atlanta. Atlanta is the setting for popular TV shows such as the Real Housewives of Atlanta and Tyler Perry's series. Due to Perry, the "Housewives", and others, Atlanta is also known as a center of black entertainment in the U.S.[18]

Films set in Atlanta include two pictures that were awarded the Oscar for Best Picture:, Gone with the Wind (1939) and Driving Miss Daisy (1989). Other films set in Atlanta include Little Darlings (1980), Sharky's Machine (1981), Outbreak (1995), Tyler Perry's Meet the Browns (2008), Life as We Know It (2010), and Contagion (2011).

Well-known television shows set in Atlanta include, from Tyler Perry Studios, House of Payne and Tyler Perry's Meet the Browns, The Real Housewives of Atlanta, the CBS sitcom Designing Women, and numerous HGTV original productions. Since moving to BET for the 2011 season, The Game - as of January 2012 the highest rated ad-supported sitcom ever on cable - has been shot in Atlanta.[19] Williams Street Productions has produced multiple Adult Swim series as well as Freaknik: The Musical at their Midtown Atlanta studios.

Horror and zombie themes

Atlanta serves as the filming location for many horror themed productions, including the TV series The Walking Dead, Teen Wolf, Vampire Diaries, and Drop Dead Diva, and the 2009 comedy Zombieland. In addition, the horror festival Atlanta HorrorFest is held yearly in October, and features the Buried Alive Film Fest, bands and a zombie walk. These factors prompted Atlanta magazine to dub the city the "Zombie Capital of the World",[20][21] and the New York Times to recognize Atlanta's stature in the genre.[22]

Logistics

Delta Air Lines headquarters

Delta Air Lines is the city's largest employer and the metro area's third largest.[23] Delta operates the world's largest airline hub at Hartsfield-Jackson Atlanta International Airport and, together with the hub of competing carrier AirTran Airways, has helped make Hartsfield-Jackson the world's busiest airport, both in terms of passenger traffic and aircraft operations. The airport, since its construction in the 1950s, has served as a key engine of Atlanta's economic growth.[24]

Top employers in Metro Atlanta

Employer Number of employees
Delta Air Lines 22,257
AT&T 21,915
Emory University 21,000
Cox Enterprises 13,583
United Parcel Service 10,745
Wellstar Health Systems 10,112
SunTrust Banks 7,700
Lockheed Martin Aeronautics 7,531
IBM Corporation 7,500
Georgia Tech 7,342
Northside Hospital 7,100
Turner Broadcasting Systems 6,600
Georgia Power 6,000
AirTran Airways 6,000
The Home Depot (HQ only) 5,500
Children's Healthcare of Atlanta 5,220
Coca-Cola 5,136
Wachovia Corp. 5,100

Source: Metro Atlanta Chamber of Commerce, 2007/2008. Figures are for HQ only, not retail stores.

List of companies headquartered in Metro Atlanta

The following is a list of the most notable companies that were founded or have their corporate Atlanta or the surrounding metro area.

Housing market

According to the Case–Shiller index, home prices in Atlanta increased 19.1% between March 2012 and March 2013. [47]

References

  1. ^ "The World According to GaWC 2008". Globalization and World Cities Research Network. GaWC Loughborough University. Retrieved April 29, 2009. 
  2. ^ "Cities with 5 or more FORTUNE 500 headquarters". CNNMoney.com. April 8, 2009. Retrieved April 5, 2010. 
  3. ^ "AeA ranks Atlanta 10th-largest U.S. cybercity". Bizjournals.com. June 24, 2008. Retrieved April 5, 2010. 
  4. ^ Bureau of Labor Statistics, U.S. Dept. of Labor, Nov. 2011 preliminary figures
  5. ^ "The Largest Banks in the U.S." (chart). The New York Job Source. June 30, 2006. Retrieved August 22, 2007. 
  6. ^ Sarath, Patrice. "SunTrust Banks, Inc.". Hoovers. Retrieved August 22, 2007. 
  7. ^ Bowers, Paige (December 7, 2001). "Beers built marble monument for Fed. Reserve". Atlanta Business Chronicle (American City Business Journals, Inc). Retrieved September 28, 2007. 
  8. ^ Rauch, Joe (August 21, 2006). "Wachovia to put headquarters of card subsidiary in Atlanta". Birmingham Business Journal (American City Business Journals, Inc). Retrieved September 28, 2007. 
  9. ^ "Atlanta: gateway to the future". Hemisphere, Inc. Retrieved June 26, 2007. 
  10. ^ Invesco
  11. ^ McGirt, Dan (January 11, 2010). "Plans for the 2009 BIO International Convention in Atlanta, Georgia". BIOtechNOW. Retrieved January 11, 2010. 
  12. ^ "CDC's Origins and Malaria". Retrieved March 23, 2011. 
  13. ^ Duffy, Kevin (August 9, 2007). "Supplier to build at Kia site in West Point". Atlanta Journal-Constitution. Archived from the original on September 30, 2007. Retrieved August 22, 2007. 
  14. ^ "Cox Enterprises, Inc. Reaches Agreement to Acquire Public Minority Stake in Cox Communications, Inc." Cox Enterprises. October 19, 2004. Retrieved on July 4, 2009.
  15. ^ a b c d "City Council Districts." City of Sandy Springs. Retrieved on July 4, 2009.
  16. ^ "Atlanta Headquarters." Cox Communications. Retrieved on April 22, 2009.
  17. ^ "About Cox". Cox Communications, Inc. Retrieved August 22, 2007. 
  18. ^ , November 25, 2011New York TimesKim Severson, "Stars Flock to Atlanta, Reshaping a Center of Black Culture",
  19. ^ "The Game returns huge for BET with 7.7 million viewers", TV by the Numbers
  20. ^ magazine, September 2011AtlantaJustin Heckert, "Zombies are so hot right now",
  21. ^ , October 19, 2012Atlanta Journal-ConstitutionGeorge Mathis, "Atlanta the new 'zombie capital'",
  22. ^ , October 18, 2011New York TimesRobbie Brown, "Zombie Apocalypse? Atlanta Says Bring It On",
  23. ^ "Atlanta's top employers, 2006" (PDF).  
  24. ^ Allen, Frederick (1996). Atlanta Rising. Atlanta, Georgia: Longstreet Press.  
  25. ^ "Software firm AirWatch announces 800 New Jobs in Atlanta." Retrieved on January 25, 2013.
  26. ^ "Contact Us." American Megatrends. Retrieved on May 6, 2009.
  27. ^ "At&T Mobility Llc." Manta. Retrieved on May 19, 2009.
  28. ^ "Axiall Company Page." Retrieved on September 2, 2013.
  29. ^ "Company Fact Sheet." Chick-fil-A. Retrieved on May 19, 2009.
  30. ^ "Atlanta Headquarters." Cox Communications. Retrieved on April 22, 2009.
  31. ^ "Cox Enterprises, Inc. Reaches Agreement to Acquire Public Minority Stake in Cox Communications, Inc." Cox Enterprises. October 19, 2004. Retrieved on July 4, 2009.
  32. ^ "Contact Us." Cox Radio. Retrieved on April 24, 2009.
  33. ^ "Contact Corporate." Delta Air Lines. Retrieved October 17, 2008.
  34. ^ "Zoning Ordinance of Atlanta, Georgia Sheet No. 14-128." City of Atlanta. Retrieved October 17, 2008.
  35. ^ www.dell.com]
  36. ^ http://www.expressjet.com/corporate/contact.htm
  37. ^ "Corporate and Financial Overview." The Home Depot. Retrieved on April 24, 2009.
  38. ^ "Invesco moving global HQ to Atlanta." Atlanta Business Chronicle. Retrieved on April 12, 2011.
  39. ^ "Simmons Company History."
  40. ^ "Sony Ericsson Relocating Americas HQ to Atlanta." CoStar Group. Retrieved on April 12, 2011.
  41. ^ "Travelport Locations List." Retrieved on September 1, 2013
  42. ^ "Contact UPS: United States." United Parcel Service. Retrieved on May 19, 2009.
  43. ^ http://www.visionairlines.com/documents/2010-10-07-VisionAirlinesAnnounces-PressRelease.pdf
  44. ^ "Contact Us." Waffle House. Retrieved on May 19, 2009.
  45. ^ "Contact Us." World Airways. Retrieved on May 19, 2009.
  46. ^ "Yellow Pages parent opens new HQ in Atlanta suburb." St Louis Post Dispatch. Retrieved on September 13, 2012.
  47. ^ Schmit, Julie (May 28, 2013). "Home price jump is more rebound than bubble". USA Today. 
This article was sourced from Creative Commons Attribution-ShareAlike License; additional terms may apply. World Heritage Encyclopedia content is assembled from numerous content providers, Open Access Publishing, and in compliance with The Fair Access to Science and Technology Research Act (FASTR), Wikimedia Foundation, Inc., Public Library of Science, The Encyclopedia of Life, Open Book Publishers (OBP), PubMed, U.S. National Library of Medicine, National Center for Biotechnology Information, U.S. National Library of Medicine, National Institutes of Health (NIH), U.S. Department of Health & Human Services, and USA.gov, which sources content from all federal, state, local, tribal, and territorial government publication portals (.gov, .mil, .edu). Funding for USA.gov and content contributors is made possible from the U.S. Congress, E-Government Act of 2002.
 
Crowd sourced content that is contributed to World Heritage Encyclopedia is peer reviewed and edited by our editorial staff to ensure quality scholarly research articles.
 
By using this site, you agree to the Terms of Use and Privacy Policy. World Heritage Encyclopedia™ is a registered trademark of the World Public Library Association, a non-profit organization.
 


Copyright © World Library Foundation. All rights reserved. eBooks from Project Gutenberg are sponsored by the World Library Foundation,
a 501c(4) Member's Support Non-Profit Organization, and is NOT affiliated with any governmental agency or department.