Invest Atlanta: Comprehensive Company Profile

Background

Overview

Invest Atlanta is the official economic development authority for the City of Atlanta, Georgia. Established in 1976, the organization is dedicated to strengthening Atlanta's economy and global competitiveness by fostering business growth, creating and retaining jobs, increasing residents' incomes, and revitalizing communities. It operates as a public-private partnership, leveraging various economic tools such as bond financing, revolving loan funds, housing financing, tax increment financing, and tax credits to achieve its mission.

Mission and Vision

• Mission: To advance Atlanta’s global competitiveness by growing a strong economy, building vibrant communities, and increasing economic prosperity for all Atlantans.

• Vision: To make Atlanta the most economically dynamic and competitive city in the world.

Primary Area of Focus

Invest Atlanta focuses on several key areas:

• Economic Development: Attracting and retaining businesses to stimulate job creation and economic growth.

• Community Development: Revitalizing neighborhoods through investments in infrastructure, affordable housing, and community services.

• Small Business Support: Providing resources, funding, and guidance to foster entrepreneurship and support the growth of small businesses.

• Affordable Housing: Developing and preserving affordable housing options to ensure equitable access to housing for all residents.

Industry Significance

As Atlanta's primary economic development agency, Invest Atlanta plays a pivotal role in shaping the city's economic landscape. Its initiatives have led to significant investments in infrastructure, housing, and business development, contributing to Atlanta's reputation as a thriving metropolitan hub. The organization's efforts have been instrumental in attracting major corporations, supporting small businesses, and enhancing the quality of life for residents.

Key Strategic Focus

Core Objectives

• Job Creation and Retention: Implementing programs that attract new businesses and support the expansion of existing ones to create and retain jobs.

• Neighborhood Revitalization: Investing in underdeveloped areas to stimulate economic activity and improve living conditions.

• Affordable Housing Development: Ensuring the availability of affordable housing through various financing tools and partnerships.

• Entrepreneurship Support: Providing resources and guidance to foster a robust entrepreneurial ecosystem.

Specific Areas of Specialization

• Tax Allocation Districts (TADs): Utilizing TADs to fund infrastructure improvements and stimulate private investment in targeted areas.

• New Markets Tax Credits (NMTC): Leveraging NMTC allocations to attract investment in low-income communities.

• Opportunity Zones: Facilitating investments in designated Opportunity Zones to promote economic development in underserved areas.

Key Technologies Utilized

Invest Atlanta employs various technologies to enhance its operations, including:

• Data Analytics Platforms: To assess economic trends and inform decision-making.

• Customer Relationship Management (CRM) Systems: For managing interactions with businesses and stakeholders.

• Geographic Information Systems (GIS): To analyze spatial data for urban planning and development projects.

Primary Markets or Conditions Targeted

• Urban Development: Focusing on revitalizing urban areas to attract businesses and residents.

• Affordable Housing: Addressing the housing needs of low- and moderate-income families.

• Small Business Ecosystem: Supporting startups and small businesses to foster innovation and job creation.

Financials and Funding

Funding History

Invest Atlanta's funding is derived from a combination of public and private sources, including:

• City of Atlanta: Allocations from the city's budget.

• State of Georgia: Program partnerships and funding.

• Federal Government: Grants and program funding.

• Private Sector: Investments from local businesses and philanthropic foundations.

Total Funds Raised

Specific figures regarding total funds raised are not publicly disclosed. However, Invest Atlanta has managed and allocated substantial capital for various development projects, including over $323.6 million invested in disinvested neighborhoods in 2022.

Notable Investors

Invest Atlanta collaborates with a diverse range of investors, including:

• Ameris Bank: Provided funding for specific projects.

• Local Businesses and Corporations: Engaged in partnerships and investments to support community development.

• Philanthropic Foundations: Contributed to various initiatives aimed at economic development and community revitalization.

Intended Utilization of Capital

The capital raised is utilized for:

• Infrastructure Development: Improving transportation, utilities, and public facilities.

• Affordable Housing Projects: Developing and preserving housing options for low- and moderate-income residents.

• Business Incentives: Providing grants, loans, and tax incentives to attract and retain businesses.

• Community Programs: Supporting initiatives that enhance quality of life, such as educational programs and public safety improvements.

Pipeline Development

Key Pipeline Candidates

Invest Atlanta's pipeline includes:

• Affordable Housing Projects: Developments aimed at increasing the availability of affordable housing units.

• Business Expansion Initiatives: Programs designed to support the growth of existing businesses within Atlanta.

• Infrastructure Projects: Plans for enhancing the city's infrastructure to support economic growth.

Stages of Development

Projects are typically in various stages, including:

• Planning and Design: Conceptualization and feasibility studies.

• Financing: Securing funding through grants, loans, and investments.

• Implementation: Construction and development phases.

• Completion and Operation: Finalization and operationalization of projects.

Target Conditions

Invest Atlanta targets:

• Disinvested Neighborhoods: Areas requiring economic revitalization.

• Underdeveloped Commercial Zones: Regions with potential for business growth.

• Affordable Housing Needs: Communities lacking sufficient affordable housing options.

Relevant Timelines

Timelines vary by project but typically range from several months to a few years, depending on the project's complexity and scale.

Technological Platform and Innovation

Proprietary Technologies

Invest Atlanta utilizes proprietary technologies such as:

• Connector Marketplace: A platform connecting businesses with resources and opportunities.

• Food Access Dashboard: An interactive tool to monitor and improve food access across the city.

Significant Scientific Methods

The organization employs:

• Data Analytics: To assess economic trends and inform decision-making.

• Geospatial Analysis: For urban planning and development projects.

AI-Driven Capabilities

While specific AI-driven capabilities are not detailed, Invest Atlanta's use of data analytics platforms suggests the integration of advanced technologies to enhance operational efficiency and decision-making processes.

Leadership Team

Executive Profiles

• Dr. Eloisa Klementich, CEcD – President & CEO

Dr. Klementich has a background in economic development, having served as managing director of business development at Invest Atlanta and in various roles with the U.S. Economic Development Administration.

• Dawn L. Arnold, HDFP, EDFP – Executive Vice President & COO

Ms. Arnold oversees multiple departments, including Community Development and Finance. She has been with Invest Atlanta for nearly 30 years, contributing to housing programs and community development initiatives.

• Rosalind Rubens Newell – General Counsel and Senior Vice President, Legal & Compliance

Ms. Newell brings over 25 years of experience in legal representation of local governments and has been with Invest Atlanta since 2013.

• Nino Chiappetta, CPA, MAFM – Senior Vice President, Chief Financial Officer

Mr. Chiappetta is responsible for the financial strategy of Invest Atlanta, with over 20 years of experience in finance and accounting across various industries.

• Phil Perkins – Senior Vice President, Community Development

Mr. Perkins leads community development initiatives aimed at neighborhood revitalization and affordable housing projects.