NEWS

The Savannah Area Chamber of Commerce hosted its 2024 Economic Outlook luncheon last Thursday at the Savannah Convention Center, attracting over 800 members eager to receive the annual economic forecasts at regional, state, and national levels. Dr. Michael Toma from Georgia Southern University presented the Savannah Area forecast, while UGA’s Dr. Benjamin Ayers, Dean of the Terry College of Business, shared state and national projections.

Dr. Michael Toma, the Fuller E. Callaway Professor of Economics at Georgia Southern, anticipates increased growth in regional employment, electricity sales, and port activity. The tourism sector is expected to continue significantly contributing to the local economy.
The outlook for more robust growth into mid-2024 relies on achieving hiring goals, particularly among major manufacturers. Hyundai Motor Group Metaplant America and its associated suppliers are anticipated to play a pivotal role in driving growth in the manufacturing sector. Additionally, Gulfstream’s plan to add 1,600 workers is set to contribute substantially to high-wage manufacturing employment growth.

Please click here to view the Economic Trends booklet.