by Dave Williams | Sep 2, 2025 | Capitol Beat News Service
ATLANTA – Georgia lawmakers are taking a fresh look at a state-run venture capital fund that was created a dozen years ago.
The General Assembly intended to jumpstart Invest Georgia in 2013 with an infusion of $100 million, Charlie Thompson, the fund’s board chairman, told members of a state House study committee Tuesday. But so far, only about $50 million has been forthcoming from the state, said Thompson, founding principal of the investment firm Eco-Capital Advisors.
“Georgia has done a phenomenal job creating an ecosystem of startups,” he said. “But for these businesses to scale, they need investment capital. Companies starting here are not staying here.”
“One of the reasons Invest Georgia was put together was not just to start them, but to gestate them, grow them, and mature them,” added Rep. Todd Jones, R-South Forsyth, the study committee’s chairman.
Invest Georgia has used the state’s money to invest in 18 venture capital funds. In turn, those VCs have invested in 119 Georgia companies, which have created more than 4,300 jobs. A requirement of the legislation creating Invest Georgia is that it invest only in companies based in Georgia.
Every $1 dollar the state-run fund has invested has yielded a return of $1.60, Thompson said.
Sean Banks, a partner in Atlanta-based TTV Capital, told committee members his was the first VC fund Invest Georgia invested in. Since 2016, Invest Georgia funds have helped TTV Capital support startup companies, mostly in the financial technology space, to raise Atlanta’s profile as “Transaction Alley” for the fin-tech industry.
“Invest Georgia has been a wonderful stake for us in the ground,” Banks said. “They’ve been a phenomenal partner.”
But Thompson said Invest Georgia needs more resources if it is to move beyond startups.
Jones said the study committee will look for ways to give Georgia-based companies a “home-field advantage,” likely through some form of tax incentives.
Rep. Stacey Evans, D-Atlanta, another member of the committee, suggested lawmakers examine the current rules for “alternative” investments in the state’s pension funds to free up more investment opportunities.
The resolution creating the panel gave it under Dec. 31 to issue findings and recommendations to the full House.
by Dave Williams | Sep 2, 2025 | Capitol Beat News Service
ATLANTA – The Georgia Department of Community Affairs (DCA) is proposing new rules aimed at allowing the state agency to resume its reviews of new data center projects.
The DCA called a temporary pause to state reviews of Development of Regional Impact (DRI) proposals for data centers back in July. Environmental advocates complained the move would let data centers – which have a huge impact on energy and water supplies – win approval without sufficient scrutiny.
“In recent years, there has been a rise in developments that have large and potentially adverse effects that are not currently accounted for in the DRI rules,” DCA Commissioner Christopher Nunn wrote in a memo last week.
“There has been a stated concern by (Atlanta) Regional Commission staff that the rules be amended to include such developments to ensure that the purpose and mission of the DRI rules are met.”
The proposed rules would require developers of data centers to disclose information about each project’s energy and water needs. Proposed data centers would be divided between those located in urban or suburban areas and those in rural parts of the state.
In cities and suburbs, the rules would apply to data centers covering more than 300,000 square feet. Data centers in rural areas would not come under the rules unless they cover more than 500,000 square feet.
The rules would create a new category of DRIs called “technological facility,” which would include data centers, as well as a second new category for solar power generating facilities.
The DCA will hold a public hearing on the new rules Sept. 9 at the agency’s board room at 60 Executive Park South in Atlanta. Public comment via email is being accepted through Sept. 12.
The DCA board will act on the proposed rules Nov. 20 at a meeting in Savannah.
by Dave Williams | Aug 29, 2025 | Capitol Beat News Service
ATLANTA – For more than a decade, supporters of legalizing gambling in Georgia have pitched casinos, pari-mutuel betting on horse racing, and – more recently – sports betting to the General Assembly but come up snake eyes.
But gaming industry lobbyists and their legislative allies believe 2026 could be different because Georgia faces several daunting financial challenges that legalized gambling could help address.
Spending cuts in the budget bill President Donald Trump steered through the Republican-controlled Congress in early July will slash billions of dollars in federal aid to states for vital services including education, health care, and social services.
Under the Gold Dome, Georgia lawmakers are considering eliminating the state income tax, which supplies more than half of the state’s revenues. There’s even a push for Georgia to join 48 other states in establishing a need-based college scholarships program.
“They all know they have to figure out a way to bring more money to Georgia,” said Rick Lackey, founder and CEO of Atlanta-based City Commercial Real Estate, who is backing several proposed casino resorts around the state. “They’ve got to find the money somewhere.”
The enthusiasm for legalizing gambling in Georgia was on full display Aug. 25 when a parade of casino and sportsbooks executives and consultants went before a state House study committee during a hearing that lasted nearly six hours.
Two legislative measures legalizing gambling in the Peach State are before the General Assembly for consideration, both covering sports betting but not casinos. House Resolution 450 is a constitutional amendment that would put sports betting before voters in a statewide referendum in November 2026, while House Bill 686 is an “enabling” bill spelling out details on how sports betting would operate in Georgia.
While the two measures made it through House committees this year, neither reached the floor of the House let alone moved to the state Senate.
Georgia lawmakers don’t have to look far for an example of sports betting. The North Carolina legislature passed a sports betting bill two years ago, which took effect last year, allowing both online betting and three retail sportsbooks.
During its first year, sports betting generated $116 million in tax revenue for the Tar Heel State, far outpacing projections, Jason Saine, a former North Carolina state representative, told members of the study committee.
“Georgia could see similar surges,” he said. “Our states are very similar. The population is very similar.”
Tennessee legalized sports betting back in 2019 but limited it to online wagering. Last year, sports betting yielded $97.1 million in tax revenue to the state, a figure projected to increase to $108.7 million this year, said Tom Lee, former vice chairman of the Tennessee Sports Wagering Council.
Saine said the North Carolina bill also legalized pari-mutuel betting on horse racing, but it has yet to take off. The horse racing industry has been on the decline in recent years due in part to animal welfare concerns.
Saine said North Carolina lawmakers decided not to include casinos in their bill, conceding casino gambling is more difficult to pass.
But casinos make a lot more money than sports betting. Slot machines and table games generated nearly $50 billion last year nationwide compared to $13.8 billion from sports betting, according to the American Gaming Association.
The more than 40 states with land-based casinos generated $16 billion in taxes in 2024, said Josh Swissman, founding partner and managing director of GMA Consulting, a leading gaming industry consultant with offices in Las Vegas and Denver.
Casinos also create a lot more jobs than sports betting. The typical casino generates about 1,700 jobs, while the larger casinos can create up to 10,000 jobs, Swissman said.
A key argument casino supporters have long used is that states without legalized betting lose tax revenue when their residents head to neighboring states that have casinos. Georgians travel north to tribal casinos in North Carolina, west to their counterparts in Alabama or south to Florida.
“Casinos serve as a great mechanism to capture consumer spending that might otherwise cross state borders to adjacent states or beyond,” Swissman said. “They also do a great job of attracting out-of-state residents with out-of-state dollars.”
A major reason legalized gambling legislation has failed to make headway in the General Assembly is opposition from faith-based groups.
Joseph D’Angelo, director of the church ambassador network for Frontline Policy Council, told the House study committee legalized gambling contributes to crime, while gambling addiction destroys families.
“Domestic violence, child neglect, bankruptcy, and crime all increase when gambling expands,” he said. “For every $1 state governments collect in gambling revenue, taxpayers spend $3 to $5 addressing the societal fallout.”
But several witnesses who testified at the Aug. 25 hearing pushed back on that argument. Jay Albanese, a criminology professor at Virginia Commonwealth University, said most studies have found casinos have no impact on local crime rates.
“The average age of casino patrons is 32,” he said. “These people do not commit street crimes. They are not considered to be a high-risk group.”
Jeremy Kudon, president of the Sports Betting Alliance, which includes Draft Kings, FanDuel and several other major sports betting operators, said gambling addiction rates across the U.S. have held steady at 1%, compared to 7% for alcohol addiction and 70% for those hooked on tobacco products.
Kudon said legal sportsbooks do a far better job of policing wagering than overseas illegal operators players turn to in states that don’t allow sports betting.
“They don’t care whether a customer is 21 or over,” he said. “They don’t care if the customer is on the verge of bankruptcy or addiction.”
Legalized gambling advocates also argue that supporting casinos and/or sports betting is not political suicide for state legislators.
“None of the people who supported sports betting (in North Carolina), who voted for it and were on the bill as sponsors, lost their primary or general election,” Saine said. “It wasn’t even an issue.”
Georgia lawmakers who back legalized gambling have the additional cover of arguing they are only voting indirectly on the issue. Since any move to bring casinos or sports betting to the Peach State would require a constitutional amendment, the issue ultimately would be in the hands of voters.
“This is not something that will cost (legislators) seats,” Kudon said. “Let’s give Georgians the right to choose.”
by Dave Williams | Aug 28, 2025 | Capitol Beat News Service
ATLANTA – A federal judge Thursday dismissed a lawsuit Georgia Attorney General Chris Carr filed early this month challenging the legality of a law giving Lt. Gov. Burt Jones a leg up in the gubernatorial race between the two Republicans.
The suit claims legislation the GOP-controlled General Assembly passed in 2021 in the name of election reform gives Jones an unfair and unconstitutional advantage in next year’s Republican gubernatorial primary.
The law allows certain elected officials in Georgia – including the lieutenant governor – to form “leadership committees” that can raise unlimited amounts of money to finance campaigns. As attorney general, Carr does not have access to such a fundraising vehicle.
Thursday’s ruling by U.S. District Court Judge Victoria Marie Calvert held that Carr lacked legal standing to bring the case.
The Jones campaign reacted to the decision with a slap at Carr.
“If Chris is this bad at being a lawyer, why would anyone want to give him a promotion?” Jones campaign spokeswoman Kendyl Parker said.
Carr’s campaign responded by noting the ruling was technical in nature and did not deal with the merits of the attorney general’s case while hinting there may be an appeal.
“The court acknowledged that this statute gives Burt Jones an unfair and harmful advantage – the same conclusion other federal judges have reached when examining it,” Carr campaign spokeswoman Julia Mazzone said. “We are reviewing all legal options to right this wrong.”
Jones and Carr are vying for the Republican nomination to succeed term-limited GOP Gov. Brian Kemp. The primary will take place next May.
by Dave Williams | Aug 27, 2025 | Capitol Beat News Service
ATLANTA – The Georgia delegation on a trade mission to South America this week is working on prospective deals with three companies, Gov. Brian Kemp told Capitol Beat Wednesday in an exclusive interview from Brazil.
“This trip has exceeded my expectations,” Kemp said from São Paulo, where he has spent the first part of the week before heading to Argentina on Thursday. “The meetings we’ve had have been high quality.”
Brazil is one of Georgia’s major trading partners, accounting for $748 million in exports last year. The Peach State’s business ties to Argentina are less extensive, with $120 million in exports in 2024.
“The U.S. has not paid enough attention to South America,” Kemp said. “There’s real opportunities here we need to take advantage of. … The Chinese are in Brazil. We need to make our presence known.”
Kemp said two of the three prospective deals with Brazilian companies the Georgia delegation is working on would be located in rural Georgia. Throughout his two terms as governor, he has made rural economic development a major priority.
More recently, the state Department of Agriculture has been looking to help Georgia industries devastated by Hurricane Helene – including timber, pecans, and poultry – recover from the damage the storm inflicted. Another economic blow fell just last week when International Paper announced plans to close two paper mills in the Savannah area, putting 1,100 employees out of work.
“We’re looking to find new markets for commodities that have been significantly hit,” said Georgia Commissioner of Agriculture Tyler Harper, who is on the trip with the governor.
This week’s trip is coming amid a backdrop of huge tariffs President Donald Trump has imposed on countries around the world. Among the highest are the 50% tariffs the president has slapped on Brazil.
But Kemp said one of the companies the Georgia delegation met with has been able to convince Trump to reduce the 50% tariff on that company to 10%.
“The White House is talking to and working with these companies,” he said. “Hopefully, there will be stabilization at some point.”
Kemp said members of the delegation will look to land more trade opportunities with businesses in Argentina when the group travels to Buenos Aires. Argentinian President Javier Milei has transformed that nation’s economy since taking office in December 2023, reducing inflation and growing the economy.
“There’s something good going on in Argentina,” Kemp said. “With what the new administration is doing, we want to go and learn more about that.”
After visiting Argentina, the Georgia delegation will return to Atlanta on Saturday.
