For Immediate Release
ATLANTA (December 3, 2020) - Video gaming in Georgia had a $925 million economic impact in 2019, according to the Georgia Game Developers Association (GGDA), the video game development trade association of Georgia. Nationwide, the gaming industry has had a nearly 9 percent annual growth with Georgia growing faster than the national average.
“As of 2019, there were 136 Georgia-based companies. I continue to see a steady increase over the years,” said Dr. Jay O’Toole, lead researcher on the study. Industry details were revealed during the Southern Interactive Entertainment and Game Expo (SIEGE), an annual conference the GGDA organizes for video gaming industry professionals.
“Georgia’s global impact on the economy consists of approximately 15,000 full- and part-time jobs, which includes the multiplier effect of those that work in the industry, those that benefit from the industry, money being generated by the industry, and money being spent throughout the economy,” said O’Toole.
Georgia’s 136 companies employed more than 4,000 people full-time. In addition, 440 new gaming jobs in the state were created. Without including benefits, the average salary in 2019 was $70,000 for the gaming industry.
“The industry is not just producing jobs but high-quality jobs,” O’Toole said.
The economic contributions report is conducted annually through a census of Georgia-based companies.The statewide economic impact of having a gaming industry in Georgia is a sum of direct, indirect, and induced effects.
The global games market is expected to generate $159 billion in revenue in 2020 and has become one of the most important types of media. “We compete (and lose to) Fortnite more than HBO,” said Reed Hastings, founder and CEO of Netflix, in a recent letter to Netflix stockholders.
A full presentation on the economic impact report can be found at https://youtu.be/pBI9p1ZppU8
Details from the economic impact report can be found at https://ggda.org/blog/georgia-game-industry-2019-economic-contributions/
SIEGE is the longest operating and largest professional game development conference in the Southern United States. In its 14th year, the annual conference for independent game developers was held virtually Nov. 13-15. A roster of game industry luminaries from across the nation were in attendance, including renowned game designer Will Wright, creator of Simcity and the Sims; Brad Merritt, director of game design for Cartoon Network; Dov Jacoboson, founder of GamesThatWork.
Based in Atlanta, SIEGE is a service of the Georgia Game Developers Association. Since 2007, SIEGE has featured leading figures from the industry and has hosted panels reflecting a wide spectrum of the game production industry, including artists, programmers, designers, investors, writers, teachers and business executives.
The Georgia Game Developers Association is the nonprofit trade association for Georgia-based businesses and professionals in the video game manufacturing industry. It supports its members with business opportunities, educational services, professional development and public affairs coordination.
For more information visit the Georgia Game Developers Association (ggda.org).
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- Global games market is expected to generate $159 billion in revenue in 2020
- 8.9% annual growth between 2015-2020, Georgia has been growing faster than national average
- “We compete with (and lose to) Fortnite more than HBO” - Reed Hastings, founder and CEO of Netflix
- Georgia Industry 2019 average salary without benefits is $70,000
- 2019 15,000 full and part-time jobs as a result of the multiplier effect, 4,000 employees in the industry
- 2019 Overall statewide economic impact of $925 million, which is a sum of direct, indirect, and induced effects
- Is limited to $12.5 million in tax credit = a cap on tax credits, credit only supports 70% of total benefits
- Esports and game development are two different spaces so multiplier elements are different
- “The industry is not just producing jobs but high quality jobs.” -Dr. Jay O’Toole