Gateway85 CID reports 2020 $16.6 billion economic impact on Gwinnett and state

Gateway85 CID recently announced results of a report showing a 2020 annual economic impact of $16.6 billion on Gwinnett and the state of Georgia. (Courtesy Gateway85 CID)

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Gateway85 CID recently announced results of a report showing a 2020 annual economic impact of $16.6 billion on Gwinnett and the state of Georgia. (Courtesy Gateway85 CID)

Credit: custom

Credit: custom

Gateway85 CID recently announced results of a report prepared by KB Advisory Group showing a 2020 annual economic impact of $16.6 billion on Gwinnett and the state of Georgia.

Highlights of the report indicate 3,000 businesses with 47,417 jobs that produce $5.6 billion in payroll and earnings annually within the CID’s boundaries. Significantly, those jobs represent 16% of all jobs in the county. The nearby area, extending just beyond Gateway85′s boundaries, represents 63,385 jobs and 4,903 businesses.

“With property values at $1.7 billion, and the CID’s continued investment in infrastructure updates, road improvements, landscaping and security, we hope to attract even more high-tech companies and high-end manufacturing businesses as members,” stated Gateway85 CID executive director Emory Morsberger. “In addition, we want to attract more developers interested in redeveloping catalyst sites within the district.”

Highlights from the report include “economic activity in the Gateway85 area generated $479 million in annual revenues derived from property, retail sales, liquor and tobacco, hospitality, business license, income and motor vehicle taxes that flow to schools, the county, local municipalities like Norcross and Peachtree Corners, the state and the county visitor’s bureau.”

Details in the report: www.tinyurl.com/Gateway85-2020Report.