BUCKHEADVININGSSilver Comet Trail

EAST COBB

HARTSFIELD-JACKSON ATLANTA INTL

Atlanta Economic Highlights

+ #1 ranking for office-using job creation among theTop 10 major US MSAs

+ #5 Top Tech talent market as recently named byCBRE Tech Talent report

+ Nationally ranked in-migration; 4th strongest MSA population expansion in 2016

+ Proven economic center; metro GDP ranked #10 among US cities

+ Strong economic diversity will buoy against volatility in any one sector

+ #1 Metro for lowest cost of doing business amongthe Top 10 major US MSAs

+ Tech remains a critical driver in Metro Atlanta job growth:

+ 19% three-year growth of STEM jobs; #1 rankingtied with San Francisco

+ 12% of office-using jobs were TAMI in 2016

+ Proximity to highly-educated workforce continues to drive corporate relocations

Metro Atlanta is recognized as an international gateway that is also an emerging Tier 1 technology hub and the established economic engine of the Southeast. As the largest economy in the region, the city’s thriving economy and job base, coupled with its high quality and low cost of living, make it an ideal destination to draw young and educated talent from the region’s major universities.

With an overall population of 5.9 million throughout the 29-county metro area, Atlanta is the ninth-largest MSA in the US and was ranked fourth among all US metros for population growth, per Census Bureau estimates. Over the course of the 1990s and into the 2000s, Atlanta evolved from the regional “capital” of the Southeast into its current distinction as a leading international city for business and a growing beacon of innovation. While Atlanta’s quality-of-life characteristics have historically proven to be a primary draw for in-migration, tremendous job growth from relocating and expanding companies has been particularly impactful during this expansion cycle with more than 350,000 net new jobs added in the last five years.

Diversified and substantial investment from corporations and state and local governments make Atlanta an incredible place to do business. As further proof that Atlanta is a mainstay of global commerce, this fast-growing metropolis is also host to the busiest airport in the world, Hartsfield-Jackson International Airport.

ATLANTA: International Gateway & Regional Leader

ATLANTA JOB GROWTH OUTPACING ITS PEERS

Atlanta has held its place in the Top 5 cities for Fortune 500 headquarters for over a decade. Looking forward, Atlanta’s diverse economy, strong in-migration, population growth, and business-friendly environment are expected to fuel above-average job growth. Moody’s Economy.com forecasts a robust expansion with nearly 200,000 new jobs by 2018. The indexed employment chart below also indicates Atlanta’s robust recovery following the national economic recession, outpacing the national recovery significantly.

This trend is further emphasized among the nation’s Top 10 office markets. Atlanta currently ranks second among its peers with a 3.0% 12-month average employment growth and will continue to hold a strong position over the next five years. Coupled with minimal office development, this outstanding growth trend has resulted in an office market that continues to tighten and record rent growth.

Indexed Employment Growth: Atlanta Outpaces National Economic Recovery

95

100

105

110

115

120

125

2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017

ATLUS

Source: KPMG - Competitve Alternatives (2016)

GLOBAL CITY WITH

LOWEST COST OF DOING BUSINESS

#181. ATLANTA, GA

2. DALLAS, TX

3. MIAMI, FL

4. BOSTON, MA

5. LOS ANGELES, CA

6. WASHINGTON, DC

7. NEW YORK, NY

8. PHILADELPHIA, PA

9. HOUSTON, TX

10. CHICAGO, IL

4.45%

4.06%

2.37%

2.26%

1.86%

1.66%

1.65%

1.55%

1.15%

1.11%

Source: US Bureau of Labor Statistics, Moody’s Analytics and CBRE Research (August 2017) Note: The list above reflects the 10 largest markets in the US

CITY WITH THE LARGEST PERCENTAGE JOB GROWTH#1

MARKET AT-A-GLANCE

18 FORTUNE 500

ADDED OVER THE LAST 24 MONTHS

ATLANTA IS HOME TO

175,700 JOBS

HEADQUARTERS

OFFICE USING JOBS WERE TAMI (2016)

12%

L O C A T I O N B R I E F I N G | C U M B E R L A N D C E N T E R I I 59

A FORTUNE 500 STALWART

Twenty-five metro Atlanta headquartered companies are among America’s largest corporation qualifying as the 2016 FORTUNE 1000, of which the area now boasts the headquarters locations of 16 firms listed in the most recent FORTUNE 500 list. Georgia ranks third in the nation for its number of FORTUNE 500 companies behind only New York (47 firms) and Houston (22). As the economy continues to strengthen, businesses continue to focus on streamlining their operations in regions with lower operating costs and a well-educated, growing labor force. This talent pool coincides well with Atlanta’s prime location within a short-flying distance of a vast majority of U.S. population centers. Atlanta is competitive in a wide range of degree levels, offering a ready workforce to relocating companies and startups in high-end services as well as skilled manufacturing. Atlanta’s concentration of highly-educated professionals will continue to make the area a preferred destination for corporate relocations and expansions.

REGIONAL HUBEXPANSION1,200 JOBS

INNOVATION CENTEREXPANSION

800 JOBS

INNOVATION HQNEW LOCATION

800 JOBS

CORPORATE HQEXPANSION1,800 JOBS

CORPORATE HQEXPANSION

500 JOBS

IT CENTEREXPANSION1,800 JOBS

REGIONAL CENTEREXPANSION1,500 JOBS

R&D CENTERNEW LOCATION

450 JOBS

MAJOR ATLANTA ANNOUNCEMENTS OF NEW JOBS IN 2016

CORPORATE HQEXPANSION

250 JOBS

DIGITAL OPS CENTERNEW LOCATION

250 JOBS

INNOVATION CENTERNEW LOCATION

250 JOBS

CORPORATE HQEXPANSION

400 JOBS

ONE of FOURUS cities with the most FORTUNE Global 500 HQs;

ranking #17 globally with four Global 500 HQs (tied with Chicago, IL; Munich, Germany; and Taipei, Taiwan)

- Georgia Power analysis of 2016 Fortune Global 500 list

#6City for Global Future Potential

- a.t. Kearney 2016, “Global Cities 2016”

TALENT PIVOTAL TO ATLANTA’S SUCCESS

The search for talent in today’s competitive business environment is a major driving force behind location decisions. With more than 275,000 students enrolled in 70 higher education institutions, metro Atlanta’s colleges and universities fuel businesses with talent, discovery, and innovation. Fostering this educated workforce and continued economic development is the presence of key research colleges and universities such as Georgia Institute of Technology, Emory University and Georgia State University. It is from this unique regional resource that metro Atlanta is able to garner a fifth position in the nation for university R&D activity with over $1.5 billion in expenditures – a nearly 50% increase in five years.

It is from this well-spring of creative energy, talent, and entrepreneurial spirit that companies are increasingly choosing to locate innovation and development centers. The region’s strength for engineering, coupled with being the fourth fastest growth metro for technology degrees awarded, sets the metro Atlanta region as a national leader for innovation far into the future.

A GROWING TECHNOLOGY & INNOVATION CENTER

Metro Atlanta has a thriving ecosystem ideal for the cultivation of the high-growth technology sector. The number of tech sectors workers has increased by nearly 50% in the past five years, adding more than 43,000 jobs to the metro Atlanta economy at a pace significantly above the national average. These jobs are fueling innovation and adapting technology within non-traditional tech sectors to increase productivity and strengthen the economy. Supported by strong research universities, Atlanta rose four spots to now be ranked among the top five tech talent markets in the nation and was named one of only four international cities recognized as startup “hotbeds” by Inc. magazine in 2016.

Tech sector is becoming a top driver of office leasing activity in Atlanta and particularly the urban core submarkets of Buckhead and Midtown. Technology and creative industry tenants have gained an increasing share of Atlanta major leasing activity. In 2017 alone, these type tenants accounted for almost one-third of over leasing activity in Metro Atlanta.

CBRE’s 2016 Scoring Tech Talent report highlighted Atlanta as a market that features two critical components for long-term growth in the tech industry: high educational attainment and affordability. This will bode well for the long-term sustainability of current rates of growth both in terms of attracting new companies to the market as well as organic growth within the market.

RECENT SURGE OF TECHNOLOGY, R&D, AND INNOVATION CENTERS

Since 2013, corporations have announced over 30,000 jobs and invested nearly $1 billion into technologies or office locations in Georgia.