Cobb optimistic on business climate, even facing economic headwinds

By Chart Riggall criggall@mdjonline.com

Ask anyone in Georgia, and they’ll tell you we’re the No. 1 state to do business. And Cobb County’s business leaders are looking to keep it that way.

Enterprises big and small had their eyes on the prize this year as the state began to properly and finally emerge from the pandemic.

Even with the threat of a recession, business leaders are confident Cobb can weather the storm.

“We have diversified our economy in a lot of different ways with industry, and that’s going to help us overcome any recession,” Cobb Chamber CEO Sharon Mason said a few months ago.

Ben Ayers, the dean of the University of Georgia’s Terry College of Business, said in December he doesn’t “expect a repeat of the housing bust.” He predicted a rebound to begin next year once inflation is brought under control and the Federal Reserve slows its interest rate hikes.

“We will continue to outperform the nation,” he said. “Growth will slow, but growth will not stop.”

Workforce woes remain a top concern for employers both public and private coming out of the pandemic. Mason said workforce is “a top reason companies are choosing us, but we want to keep it that way. We want to make sure that we’re staying proactive, and continuing a strong pipeline.

“And we know there’s a major challenge — pandemic-related, especially — for companies. We’re seeing that nationally, but that everybody has experienced that shortage.”

One sector that’s nearly back in full swing is tourism and hospitality. According to Tyler Reinagel, Kennesaw State University’s associate vice president of economic development, the industry contributes about $3 billion per year and tens of thousands of jobs to the local economy.

The Cobb Galleria and Cobb Energy Performing Arts Centre (CEPAC), meanwhile, both saw their revenues back in the black this year since the first time before COVID. The Galleria hosted

187 events, while CEPAC held 178 events. That performance is expected to continue into next year.

“The performing arts center has accomplished its ambitious goal of bringing arts and entertainment events that wouldn’t otherwise be presented to local audiences and lifting up its resident companies — the Atlanta Ballet, The Atlanta Opera and ArtsBridge Foundation,” said Michele Swann, general manager and CEO of the Cobb-Marietta Coliseum and Exhibit Hall Authority, which oversees both venues.

The authority also inked a new revenue sharing agreement with Cobb County, which will help it undertake a long-awaited redevelopment of the Galleria’s Specialty Shops mall. A feasibility study will soon be done to determine if a hotel could be built on the site.

Working hand in hand with business leaders are Cobb’s Community Improvement Districts (CIDs) — property owners who levy a tax upon themselves to fund local infrastructure projects.

The Cumberland CID has big plans for the coming year, moving forward on projects to restore and renovate parklands while expanding transit and walkability in the county’s bustling commercial hub.

The Town Center CID, meanwhile, recently celebrated its 25th anniversary and has more than 60 projects on its wish list for the years to come. In 2022, it broke ground on a long-awaited phase of the South Barrett Reliever road project which will provide new connections in the district.

Said Kelly Keappler, CID chairman, “Over two decades, the focus has shifted to green space, community and quality of life improvements. This kind of transformation doesn’t happen overnight. It takes thoughtful planning and intentional action to advance a shared vision of what can be.”