The Georgia Department of Economic Development (GDEcD) is the state’s sales and marketing arm, the lead agency for attracting new business investment, encouraging the expansion of existing industry and small businesses, aligning workforce education and training with in-demand jobs, locating new markets for Georgia products, attracting tourists to Georgia and promoting the state as a destination for arts and location for film, music and digital entertainment projects as well as planning and mobilizing state resources for economic development. Georgia has evolved to become the epicenter of a growing segment of the FinTech industry with 70% of U.S. financial transactions passing through Georgia.
Georgia’s FinTech Ecosystem by the numbers:
• Georgia FinTech companies process 118 billion transactions each year representing more than $2 trillion of purchase volume
• Georgia FinTech companies serve nearly 4 million merchants
• Top 50 Georgia-based FinTech companies generate annual revenue of more than $72 billion
• Approximately 100 FinTech companies are headquartered or have a significant presence in Georgia
• 6 of the 10 largest U.S. payment processing firms are Georgia-based
• 115 information security companies in Georgia, which generate 25 percent of the worldwide security revenue market
• 30,000+ people employed by Georgia-based FinTech companies
• 17 Fortune® 500 headquarters are located in Georgia
• 16,250 technology companies employing 198,000 high-tech workers
• Is 1 of the top 10 states for high-tech job growth
• Is 1 of the top 5 states for software publishing employment
• Ranked 11th in the nation for overall high-tech employment
GDEcD’s international trade division leverages the state’s international representatives located in China, Japan and South Korea to help Georgia’s companies in the Asian market.