Economy of Atlanta

tertainment and data processing has, garnered a larger percentage of Atlanta's economic output. Indeed, as of 2013, Atlanta contains the fourth-largest concentration of information technology jobs in the United States, numbering 85,000. Atlanta also ranks as the sixth-fastest growing city for information technology jobs, with an employment growth of 4.8% in 2012 and a three-year growth near 9%, or 16,000 jobs. Information technologies companies are drawn to Atlanta's lower costs and educated workforce.

Largely due to a state-wide tax incentive enacted in 2005, the Georgia Entertainment Industry Investment Act, which awards qualified productions a transferable income tax credit of 20% of all in-state costs for film and television investments of $500,000 or more, Atlanta has become a center for film and television production. Film and television production facilities in Atlanta include Turner Studios, Tyler Perry Studios, Williams Street Productions, and the EUE/Screen Gems sound stages. Film and television production injected $1 billion into Georgia’s economy in 2010, with Atlanta garnering most of the projects. Atlanta has gained recognition as a center of production of horror and zombie-related productions, with ‘‘Atlanta’’ magazine dubbing the city the "Zombie Capital of the World".

Compared to its peer cities, Atlanta’s economy has been disproportionately affected by the 2008 financial crisis and the subsequent recession. The city’s economic problems are displayed in its elevated unemployment rate, declining real income levels, and depressed housing market. From 2010-2011, Atlanta saw a 0.9% contraction in employment and a meager 0.4% rise in income. As of 2012, the unemployment rate in Atlanta was over 9%, higher than the national average of 8.2%. These dismal statistics have garnered Atlanta recognition as one of the