Recent corporate news out of Savannah and Atlanta presents an economic tale of two cities. It may not be the best of times nor the worst, but it certainly indicates fortunes heading in different directions.

The Creative Coast’s already buoyant economy received a welcomed boost Monday when Gulfstream Aerospace Corp. announced plans to expand its facilities in west Chatham County over the next seven years. The increased manufacturing and service capacity will result in an increase of 1,100 well-paying jobs.

Most of those openings can be filled by local workers if many take advantage of Gulfstream’s partnership with Savannah Technical College. The school has agreed to develop vocational education programs tailored to meet Gulfstream’s needs.

That kind of public-private cooperation is a smart and innovative way to nurture a skilled, homegrown workforce that benefits not just one company, but the entire community by attracting outside employers to set up business here.

It’s good to see Gulfstream officials so confident about their company’s future. Just three years ago a global slump in demand for luxury jets forced the company to lay off 1,000 workers nationwide and shut down its Savannah plant for a month.

When Gulfstream is hurting, Savannah also feels the pain – the aircraft manufacturer constitutes 8 percent of the local economy.

Gulfstream’s rebound is good news for Savannah’s well-rounded economy, which draws its strength from the port, manufacturing, the tourism and service sector, and the military. Such diversity is essential to weathering the inevitable economic downturns; many communities that put all their eggs in one basket never recover from such setbacks.

And Savannah has plenty of room to grow.

It still possesses the 1,500-acre megasite off I-16 in Pooler that once was earmarked for a DaimlerChrysler van plant. The German-based automaker ultimately located to a smaller location in Charleston, S.C., but the megasite remains a plum asset that should eventually lure a large manufacturer here.

Things aren’t as rosy for Atlanta. It has spent the last four decades becoming a headquarters for much of corporate America, but in recent months has suffered several blows to its Fortune 500 residents. The latest came last weekend with news that AT&T Inc. had proposed to merge with Atlanta-based BellSouth Corp.

If the move is approved, not only would the BellSouth name likely cease to exist, but many jobs would be lost and the corporate identity would be folded into AT&T’s headquarters in San Antonio.

Since last summer, Atlanta has lost Georgia-Pacific, had Ford and General Motors announce plans to close longstanding auto manufacturing plants there and has seen Delta Air Lines file for bankruptcy while laying off thousands of employees. Now this.

That’s not to gloat over Atlanta’s misfortune. On the contrary, Georgia needs its largest city to be economically robust – the benefits of a prosperous Atlanta filter down to the rest of the state.
But that’s even more reason to celebrate Savannah’s economic independence.
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Editorial – Courtesy of The Savannah Morning News

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