Invest Atlanta reveals $1.57 billion in economic development investments for 2024

In the heart of Atlanta's city hall, the atmosphere buzzed with anticipation as city council members gathered for a pivotal budget briefing. The session, held on May 15, 2025, focused on the fiscal year 2026 budget, with Invest Atlanta taking center stage to discuss its economic development initiatives.

Dr. Eloisa Comentich, the president and CEO of Invest Atlanta, presented a compelling overview of the agency's performance metrics, emphasizing the importance of economic development in enhancing the quality of life for residents. With a staggering $717 million in investments planned for 2024, which is expected to leverage an additional $900 million, the agency aims to create jobs, attract investments, and revitalize disinvested neighborhoods. Notably, 59% of these investments are targeted at areas in need, marked in red, orange, and yellow on a city map.

Lori Prickett, leading the economic development team, highlighted the agency's commitment to supporting small businesses. In 2024 alone, Invest Atlanta provided over $14.8 million in direct financial support, aiding nearly 1,845 unique small businesses. This effort reflects a significant increase in demand for public financial tools, with a focus on racial equity—57% of businesses served were Black-owned, and 30% were women-owned.

The session also showcased success stories, such as Travis Fair, owner of ABS Collision and Repair, who received $250,000 in commercial down payment assistance. His story exemplified the tangible impact of Invest Atlanta's programs on local entrepreneurs.

As the briefing progressed, the council learned about the agency's strategic partnerships aimed at improving food access in underserved communities. Initiatives like the Atlanta Local Legacy Program, which supports legacy businesses through digital transformation, were also introduced. The program has already welcomed over 100 businesses, offering grants to enhance their operations.

Looking ahead, Dr. Comentich outlined the agency's budget request of $3 million for the upcoming fiscal year, a decrease from previous years, reflecting current financial conditions. The budget will support 21 full-time employees and focus on attracting major grocery chains and enhancing food access.

In a powerful closing statement, Dr. Comentich shared that for every dollar invested from the general fund, Invest Atlanta has generated an impressive $7.20 in return for the city. This statistic underscores the agency's role in driving economic growth and improving the lives of Atlanta's residents.

As the meeting concluded, the council members were left with a clear understanding of Invest Atlanta's strategic vision and the critical role it plays in shaping the city's economic landscape. The discussions not only highlighted the agency's achievements but also set the stage for future initiatives aimed at fostering a more equitable and prosperous Atlanta.