Savannah, Georgia

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SAVANNAH SUBMARKETS

Economic Overview
The Savannah economy continues to be the strongest in the state boasting a 3.2% or 5,346 job gain over the past year. Tourism, construction and manufacturing all posted impressive gains helping to land Savannah at #10 on Inc. magazines Boomtowns 2007 list for midsize cities. The outlook for Savannah continues to look bright as job growth is projected to increase by 3.3% in 2008 according to Georgia State’s Economic Forecasting Center.

Employment/Economic Announcements
In 2006, the Savannah port became the second largest container port on the East coast with business up 14% over the previous year. Upcoming improvements including more container storage, cranes and dock space will help to ensure economic expansion for the Savannah area.

• Governors Mark Sanford and Sonny Perdue announced that the states of Georgia and South Carolina have formed a Bi-State Port Authority that will jointly build a new deepwater port on the Savannah River in Jasper County, South Carolina. The proposed 1,800 acre facility is expected to attract much private investment in both states.
• Target Corporation opened its new import warehouse which added 170 new jobs to the Savannah market.
• IKEA opened a new distribution center in Savannah in June creating 125 new jobs.

Market Data Information Source: © August, 2007 Real Data Aptindex