State of Georgia (2)
Abstract
The Georgia Department of Economic Development (GDEcD) is the state agency responsible for both attracting and growing businesses in the state. The agency works to ensure the most favorable economic climate for businesses to grow in Georgia. One challenge to maintaining and expanding the industry base in Georgia is the potential for the loss of Department of Defense (DoD) contracts by Georgia companies due to current and potential future DoD budget reductions. In order to better understand the effects of DoD contract spending on Georgia?s economy, the State pursued a data-gathering strategy through a Phase I Defense Industry Adjustment Grant funding from the Office of Economic Adjustment. This initial scope of work obtained quantitative analysis of the industries and regions most at risk to changes in DoD funding providing the State a better understanding of the industries, businesses and the workforce connected to DoD contracts. The GUARD initiative is the Georgia Department of Economic Development?s effort to understand the impact of Department of Defense contract work in Georgia. Understanding who is affected will allow us to assist companies and communities who may be affected by downturns in DoD spending to create and attract new business while they retain and expand their existing business. The DoD supplier analysis provided by Chmura Economics and Analytics demonstrated that the State of Georgia overall is below the national average for risk, with a score of .6% compared to the national average of 1.6 %. However, six Georgia counties are well above the national average, with four of these counties having a risk score of 3.6% or higher, more than double the national average. This analysis highlights the need for additional efforts which will be the focus of Phase II of the GUARD initiative.
Document Details
- Document Type
- DoD Grant Award
- Publication Date
- Sep 18, 2017
- Source ID
- HQ00051610177
Entities
People
- Amy Hudnall
Organizations
- Georgia Department of Economic Development
- Office of Local Defense Community Cooperation
- Office of the Secretary of Defense