Atlanta’s Growth Journey: A Community-focused Approach
In the heart of Georgia, Atlanta has blossomed into a city that champions affordable housing, job creation, and support for small businesses, thanks to the dedicated efforts of Invest Atlanta. Under the leadership of Dr. Eloisa Klementich, who has served as the CEO for the past 14 years, the organization has embraced a comprehensive strategy that has produced impressive results. A staggering 11,383 affordable housing units have been developed, 66,900 jobs have been created or retained, and a whopping $8 billion has been injected into the local economy. This is not just a story of numbers; it’s a story of community impact and resilience.
A Personal Journey
Dr. Klementich’s journey with Invest Atlanta began humbly within the economic development team. She fondly reminisces about her early days, stating, “It has been an amazing, almost 14-year ride here at Invest Atlanta. I had the privilege to work with amazing people.” Now, as the leader of this pivotal organization, she finds herself involved in various initiatives that range from community development to small business support. “The spectrum is so wide, you’ll see us involved in many different types of things. But that’s what keeps every day very exciting,” she adds.
Opportunity Zones: A Key Initiative
Among the many initiatives spearheaded by Invest Atlanta are the strategies centered around opportunity zones, particularly in the Greenbrier and MLK areas. Dr. Klementich highlights how the organization aims to be proactive in ensuring that development is inclusive. “We’re trying to be very strategic about how we can be proactive when it comes to development and development opportunities,” she emphasizes.
By submitting an application to the Georgia Department of Community Affairs for additional incentives, Invest Atlanta has placed itself in a position to attract more businesses to these areas. Drawing on past experiences, Dr. Klementich reflects, “In the early days, Midtown, where Technology Square is, had an opportunity zone as well. Now, you look at what was created there. It all takes time, but it’s putting foundational opportunities that then make an interest in certain parts of Atlanta.”
Supporting Black-Owned Businesses
In a recent study, Atlanta was recognized as the top city for Black-owned businesses in the nation, a distinction that Dr. Klementich is both proud and excited about. “There’s several things that we’re trying to do,” she points out, addressing the challenges these businesses face, such as accessibility to financing and technical assistance.
In response to the struggles brought on by the COVID-19 pandemic, Invest Atlanta established a grant program providing up to $40,000 for businesses in need, along with an additional $10,000 to cover technical assistance. “We also created a free technical assistance program because we learned that it worked,” she shares. Recognizing a significant number of Black-owned businesses lease their locations, which makes them vulnerable to rent hikes, Invest Atlanta introduced a downpayment assistance program with Wells Fargo. This innovation aims to give businesses a stronger foothold in the community.
Preserving Legacy Businesses
Looking ahead, Invest Atlanta is not just focused on new enterprises, but also on preserving the rich history of legacy businesses. “We’re creating, for the very first time, an actual program that’s going to highlight all of the legacy businesses in the city of Atlanta,” Dr. Klementich reveals. This initiative aims to ensure these long-standing businesses thrive in a rapidly evolving city.
As Atlanta continues its journey toward inclusive growth, it’s clear that Invest Atlanta and its dedicated team, led by Dr. Klementich, are committed to making the city a place where everyone has the opportunity to succeed. With continued efforts to support affordable housing, job creation, and small businesses, Atlanta is undoubtedly a city on the rise.
