Helping grow Georgia’s economy has been part of Georgia Tech’s mission since its founding in 1885. Our direct economic impact on the state was $3.3 billion in 2018, and accounted for some 27,000 jobs in metro Atlanta alone. Our broader impact comes through a commitment to help create or save jobs, strengthen communities’ economic competitiveness, and help entrepreneurs establish new companies.
The Enterprise Innovation Institute (EI2) is Georgia Tech’s chief economic development arm and in 2019 its programs served 9,599 businesses, communities, and entrepreneurs. Those clients reported startup investment capital exceeding $456 million and created or saved 16,304 jobs. For all of 2019, EI2’s total financial impact exceeded $2.96 billion.
Among EI2's leading programs is the Georgia Manufacturing Extension Partnership (GaMEP), which works with manufacturers through training and technical assistance to improve their competitiveness, increase growth, and cut costs. GaMEP, which is EI2's largest program, worked with more than 700 manufacturers in Georgia to increase manufacturing sales by $317 million, reduce clients' operating costs by $121 million, invest more than $159 million back into their plants, and create or retain 2,074 jobs.
In 2018, Georgia Tech’s VentureLab program helped form 24 startup companies, and attracted more than $162 million in investment. VentureLab helps faculty, staff, and students turn research results into startup companies that generate jobs and economic impact for the state of Georgia. The I-Corps initiative, supported by the National Science Foundation, helps scientists and engineers extend their focus beyond the laboratory and fosters entrepreneurship leading to commercialization.
The Advanced Technology Development Center (ATDC), Georgia's technology incubator, has graduated more than 170 companies that have generated $12 billion in revenues. Georgia Tech has attracted more than 35 innovation centers from companies such as AT&T, Delta Air Lines, Home Depot, and Siemens.
Georgia Tech is also investing in the state through research and strategic initiatives such as the Georgia Smart Communities Challenge, which is collaborating with cities and counties across the state. Georgia Smart connects communities to Georgia Tech’s applied and multi-disciplinary research and works with these local communities to create solutions and apply technology to tackle their unique challenges.
The Center for Economic Development Research (CEDR), is leading the Investing in Manufacturing Communities Partnership (IMCP) initiative for the 15-county northwest Georgia region. This project is focused on the development and implementation of that region’s first advanced manufacturing strategy. Tech also is working with the Georgia Ports Authority and the Georgia Center of Innovation for Logistics to bring advanced research, evolving global logistics trends, and analysis from the world to Savannah through Tech’s Supply Chain and Logistics Institute. The goal of the project is to facilitate further growth and expansion of the Georgia Ports Authority’s service area.