Momentum Continues in Georgia’s Cybersecurity and FinTech Ecosystem

Georgia is the epicenter of FinTech, with 70% of all U.S. transactions handled by payment processing firms located in the state; and with more than 75 cybersecurity companies generating an estimated $2.6 billion annually, Georgia is also one of the United States’ most elite cybersecurity hubs.  

The state’s emergence as a leader in these sectors is the result of long-term investments in cyber-related workforce education and infrastructure, in addition to Georgia’s pro-business environment, which continues to attract world-renowned companies to the state. The September 2020 edition of Georgia Trend magazine provides an excellent overview of Georgia’s established leadership in the FinTech industry in their feature, “FinTech in Georgia: From Strong to Stronger.”

But there is even more recent good news!

For example, in September, U.S. News World and Report named Georgia Tech as the No. 1 undergraduate program in cybersecurity education – but they’re not stopping there. 

That same week, Georgia Tech shared plans to continue building upon its success by establishing a new School of Cybersecurity and Privacy. This school, which is being launched to meet a critical U.S. workforce need, will be the first school of its kind among top research universities.

This news also comes on the heels of Business Facilities Magazine ranking the state’s capital city of Atlanta as the No. 1 Tech Hub in the United States. This followed an announcement made earlier in the year that Microsoft Corp., a worldwide leader in software, services, devices and solutions, plans to open a brand-new facility in Atlanta. The $75 million investment will create 1,500 new high-tech jobs in West Midtown.

 

This past summer, Georgia State University, also located in the nation’s No. 1 Tech Hub, earned two prestigious designations from the National Security Agency (NSA) and the Department of Homeland Security (DHS). Thanks to the school’s demonstrated commitment to both cybersecurity research and training, it is now both a National Center of Academic Excellence in Cyber Defense Research and a National Center of Academic Excellence in Cyber Defense Education. Only 45 universities nationwide have received designations in both cyber defense and education.

Investments in cyber-related education are not only being made at university levels. In August, the Georgia Department of Education and the University System of Georgia announced that they are partnering to create a high school Career Pathway program that focuses specifically on financial technology. Forward-thinking initiatives like the FinTech Career Pathway program will help the state continue to outpace the national average in both attracting and educating tech talent. 

Furthermore, the single largest investment in cybersecurity made by a state, the Georgia Cyber Center, continues to stimulate investment in Augusta and catalyze synergies between education and research, benefiting both the public and private sectors.  

For example, Governor Brian Kemp this week joined the ribbon-cutting for Perspecta Inc. (PRSP), a leading U.S. government services provider, as they officially opened their regional office at the Georgia Cyber Center in Augusta. This investment will bring 178 jobs to Richmond County and the surrounding area in support of the U.S. Army Cyber Command (ARCYBER) at Fort Gordon.

The state also continues to attract investments from major FinTech companies. In September, Governor Kemp shared that Fortune 1000 company Deluxe’s plans to establish a new office complex and FinTech Customer Innovation Center in metro Atlanta, delivering more than 700 highly specialized jobs to the area. Last year alone, FinTech companies in Georgia generated more than $72 billion.

The state’s proactive investments in cybersecurity education and infrastructure keep it well positioned to remain at the epicenter of the industry for decades to come. 

 

Published: October 5, 2020; Updated: October 8, 2020.