by Dave Williams | Feb 12, 2025 | Capitol Beat News Service
ATLANTA – Tariffs President Donald Trump has imposed since taking office last month pose the greatest risk to Georgia’s economy, State Economist Robert Buschman told state lawmakers Wednesday.
Broad and high tariffs on imports likely will drive up prices for Georgia consumers, while retaliatory tariffs levied by America’s trading partners could damage export industries, Buschman said during his annual economic outlook presentation to the House Appropriations Committee. Buschman had been due to appear before the panel during the General Assembly’s annual budget recess last month but was postponed by a snowstorm.
Georgia is the 12th-largest state for exports, which play a large role in industries including aerospace, pulp and paper, machinery, computers and electronics, food and other agricultural goods, and motor vehicles and parts. The Peach State exported $49.9 billion in goods in 2023, accounting for 6% of the state’s Gross Domestic Product.
“You hit that 6%, you hit the economy of the state,” Buschman said.
Barring any potential disruption from tariffs, Georgia’s economy otherwise is strong, the economist said. Georgia continues to outperform the nation as a whole in income and employment. Personal income has grown by 10% since 2019, while Georgia’s jobless rate of 3.7% in December was above the national unemployment rate of 4%.
“Low unemployment is good for consumer confidence and puts upward pressure on wages,” Buschman said.
Inflation in Georgia peaked at 9% in 2022 but quickly fell to 3% the following year and has remained there, he said.
With inflation remaining low, Buschman predicted the Federal Reserve Bank will only reduce interest rates 1/4 point this year after cutting rates three times during the final months of last year.
He said the nation’s banking system and consumer financial health remain strong, while loan delinquency rates remain low.
On the other hand, Buschman said he’s concerned that interest rates on mortgage and auto loans are still high, while consumers continue to feel squeezed by inflation.
“Even though (inflation) has come down, incomes have just barely kept up,” he said.
by Dave Williams | Feb 12, 2025 | Capitol Beat News Service
ATLANTA – Gov. Brian Kemp has accepted an invitation to attend the Munich Security Conference in Germany this weekend to participate in a roundtable discussion with foreign leaders and partners on international economic relations and geopolitics.
The annual conference is the world’s leading multinational forum for debating international security policy. It also provides a valuable opportunity for bilateral meetings with economic development prospects that can lead to more jobs and investments in Georgia.
“I’m looking forward to representing Georgians and hardworking Americans at this year’s Munich Security Conference,” Kemp said Wednesday. “I will carry their loud and clear message that we need common-sense economic and security policy that does not disadvantage American families or their businesses.”
Kemp will hold meetings with private sector leaders in key industries while attending the conference, adding an economic development component to the overseas trip.
This will be the governor’s second trip to Europe already this year. Last month, he led a trade mission to Germany and Poland.
by Dave Williams | Feb 12, 2025 | Capitol Beat News Service
ATLANTA – Former Gov. Nathan Deal’s chief of staff will serve in that role in the House speaker’s office on an interim basis, Speaker Jon Burns announced Wednesday.
Chris Riley will fill in for former state Rep. Terry England, who has served as Burns’ chief of staff since 2023. England suffered a serious accident on his farm in Barrow County last weekend and remains hospitalized.
“I’m excited to be welcoming Chris Riley to our team in the speaker’s office for the remainder of this legislative session,” said Burns, R-Newington. “While we’re deeply saddened by the circumstances of this transition, Chris brings a wealth of experience and knowledge that will be invaluable as we continue our work on behalf of the people of our great state.
“No one knows Terry England’s mind and heart for Georgia better than Chris Riley – and I’m confident he will step into this role with Terry’s love for our state at the forefront of his leadership as interim chief of staff.”
Riley served as Deal’s chief of staff from 2011 to 2018, Deal’s entire tenure as governor. Riley, his wife Bambi, and their two sons live on a farm in Hall County where they operate a small cattle operation.
“Terry England has been a tireless advocate for Georgians in every corner of our state for decades, and it’s an honor to be welcomed into this role while he recovers,” Riley said. “I’m looking forward to working alongside my friend Speaker Burns as he continues to advance a strong, common-sense agenda in the House.”
Burns told his House colleagues Wednesday that England is getting better every day and will return to his post in the speaker’s office after he recovers.
by Dave Williams | Feb 11, 2025 | Capitol Beat News Service
ATLANTA – The University System of Georgia is responding to the rapid growth of artificial technology with a new degree program.
The system’s Board of Regents voted Tuesday to create the system’s first baccalaureate program, a bachelor of science degree in applied artificial intelligence at Middle Georgia State University’s Warner Robins campus.
The AI degree program is intended to offer students a pathway to pursue careers in industries including health care, business, and cybersecurity.
Atlanta’s emergence as a tech hub is creating an increasing number of job openings in information technology, while transportation assets including the Port of Savannah and Hartsfield-Jackson International Airport rely heavily on AI for supply chain optimization, route planning, and operational efficiency.
The AI program is expected to attract 65 students initially and up to 168 by its fourth year. Classes are due to begin this fall.
by Dave Williams | Feb 11, 2025 | Capitol Beat News Service
ATLANTA – The state Department of Agriculture has lifted a suspension of poultry activities in Georgia following the successful completion of testing for bird flu with no additional detections.
Two cases of avian influenza (HPAI) were discovered last month in commercial poultry flocks in Elbert County. That outbreak prompted the state agency to suspend poultry activities across Georgia including sales at auction, flea, or livestock markets, meet ups, swaps, and exhibitions. The order exempted the retail sale of poultry products including meat and eggs.
“I’m excited to announce that both commercial poultry producers in the control area and poultry enthusiasts across our state can return to normal operations,” Georgia Commissioner of Agriculture Tyler Harper said Monday.
“While this announcement is a great step in the right direction, HPAI remains a significant threat to our No.-1 industry, and the Georgia Department of Agriculture will continue working around the clock to protect our state’s flocks and to keep prices as low as possible for Georgia consumers.”
Every commercial operation within 10 kilometers (6.2 miles) of the affected area was subjected to increased testing and movement controls. Agency staff completed 4,541 tests representing 49,951 individual chickens and hundreds of flocks with no additional detections of HPAI.
Outbreaks of bird flu across the country have been blamed for record egg prices. According to the U.S. Bureau of Labor Statistics, the cost of eggs has nearly doubled from a year ago.
