How is the state’s economy holding up amid the COVID-19 recession?

How is the state’s economy holding up amid the COVID-19 recession?

AUGUSTA, Ga. (WALB) - “The COVID-19 recession is over” was the headline of the 38th Annual Georgia Economic Outlook that was released Thursday by the University of Georgia.

Just this week, Governor Brian Kemp announced that Hyundai and Boston Consulting Group were doing expansions in Georgia, creating almost 1,000 new jobs.

The dean of the Terry College Of Business said the recession brought on by the pandemic did less damage to Georgia’s economy than it did nationally.

Benjamin Ayers said economists feel the Georgia recession is practically a thing of the past.

State economic development officials said the promise of vaccines has created optimism in businesses.

“I believe there is a lot of pent-up demand, that I think we are going to be in for a very, very busy 2021 with new and expansions here in our state,” said Scott McMurray, the deputy commissioner of global commerce for the Georgia Department of Economic Development.

McMurray said he thinks every region in the state will see business development in the coming year. He said food manufacturing and packaging industries are looking at expanding into South Georgia rural areas.

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