Georgia Ports Growth Plans And Collaborations Fuel Job Expansion And Economic

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Georgia ports play a crucial role for automakers, suppliers, manufacturers, and logistics operations considering job expansion in Georgia, United States.

“We’re not only talking about Savannah or Atlanta. It’s our mission to drive the success of the entire state. A whole series of recent announcements prove that our efforts are paying off in greater economic opportunity for Georgians in large and small communities,” stated Griff Lynch, CEO and president of Georgia Ports Authority (GPA).

Collaboration

Through collaboration between GPA and the Georgia Department of Economic Development (GDEcD), the state revealed 350 projects from potential port users in Fiscal Year 2023.

Electric vehicle expansion

As per the Global Commerce division of GDEcD, the expanding electric vehicle ecosystem in Georgia has made an impact throughout the entire state. This growth is primarily driven by announcements related to the Hyundai Motor Group Metaplant America, which has established operations in over 10 counties across Georgia.

In the Savannah region alone, the industrial property inventory now exceeds 11,5 million square metres, with over 1,3 million square metres under construction as of the end of the Calendar Year 2023.

“The outlook for Savannah’s industrial market is still favourable thanks to the continued growth at the Georgia Ports with conservative projections to eclipse 8 million TEUs of throughput by 2030. The operational efficiency offered by the GPA and shift in import cargo from the West Coast and NY/NJ are the key drivers in the growth of Savannah’s industrial market,” said Stephen Ezelle.

Nationwide moderation

Despite the nationwide moderation of container trade, the report suggests that Savannah is poised for sustained, steady growth, largely attributed to the Hyundai announcement and GPA’s increasing national market presence. Ezelle anticipates ongoing absorption of strategically positioned light industrial warehouse space. He noted that Savannah’s industrial sector concluded 2023 with a 7% overall vacancy rate.

“Being within 30 miles is great, but you don’t have to be competitive in drayage, lease rates and overall cost of doing business. Forty or 50 miles away from Savannah is an easy drive. That can be attributed to the port’s location upriver of the Savannah population centre, and the Georgia Department of Transportation’s efforts here, making the truck routes to the port less congested and easily accessible,” stated Stacy Watson, director of economic and industrial development at GPA.

Watson noted that despite numerous available locations within a 10-mile radius of the Port of Savannah, properties in Bryan, Liberty, and McIntosh counties, as well as those further west, offer access to interstate and rail connections linking to the port and vibrant inland markets.

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Source : Container news

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