This document discusses how innovation can drive future economic growth in Georgia. It identifies several strategic industries for Georgia including aerospace, agriculture, manufacturing, energy, life sciences, and logistics. These industries currently have a large economic impact on the state in terms of employment and revenue. The document proposes focusing on technology innovation within these strategic industries to produce jobs and investment. It outlines existing state programs and partnerships that support innovation and highlights some successful innovative companies in Georgia. It argues that focusing continued efforts on innovation within strategic industries can help ensure Georgia's competitiveness in the global marketplace.

1. Innovation: The Engine of Future Economic Growth

2. A new model for Economic DevelopmentA comprehensive environment for advancing globalcompetitivenessfor Georgia’s businesses

3. Economic Development …What’s Going on?Traditional Growth Challenged by:Global Competition

4. Economy Fluctuations

5. Technology ChangesInnovation – Growing Georgia’s EconomyInnovation based product and service growth offers a never ending replenishment of sustainable economic growth Produces continuingly increasing new products and services – increased momentum and global competiveness

6. Innovation …“Failing Fast” Commercialization Focus

7. Produces a “pipeline” of potential jobs and investment for the future

8. minimal investments while pushing potential winnersEconomic Impact- Jobs/Investment Failure is an inevitable part of the innovation process, ..... The Theory of Economic Development. Cambridge, MA: Harvard University Press

9. Strategic IndustriesAerospace Agriculture ManufacturingEnergy Life Sciences Logistics Industries with Highest Economic Impact, GA Advantage and the Greatest Potential for Future Growth

10. Strategic Industry Impact in GAemployment US Rank Economic ImpactAerospace 80K 8th $5. 6 Billion Agriculture 389K 12th $58.5 BillionManufacturing 430K (non-AG) 11th $43 Billion Life Sciences 15K 7th $7.8 Billion Logistics 810K #2 Transportation $550 B Dir. Rev.#3 Seaport, #7 Rail

11. Centers of InnovationDeep Industry Expertise for Strategic Industries –

12. Industry Marketing for all Georgia

13. Market & Technical knowledge

14. Connections to ..

15. R&D – University & Other

16. Market Expertise

17. Business ConnectionsManufacturingGainesvilleEnergyAtlantaLife SciencesAugustaAerospaceWarner Robins/EastmanLogisticsSavannahAgricultureTiftonwww.georgiainnovation.org

18. Strategic Partners