Augusta Leaders Point to Steady Growth Across Key Economic Sectors

Augusta's nominal GDP stands at approximately $37 billion, with real GDP growing at roughly 1.5 percent annually. This pace sits slightly below the national average of 2.2 percent, according to recent economic assessments.

Employment and Sector Drivers

The Augusta-Richmond County MSA reached record employment of 238,000 in October. Regional employment increased by 3,720 jobs over the last five years and is projected to grow by 11,881 jobs over the next five years. Government leads with 56,772 jobs, followed by health care at 34,751, retail trade at 27,931, and manufacturing at 24,903. Cybersecurity, healthcare, advanced manufacturing, and military support services anchor growth through Fort Gordon, Augusta University, and the Savannah River Site.

County Contributions and Income Trends

Richmond County generates about 44 percent of the region's economic output. Columbia and Burke counties have doubled their real GDP over the past 25 years. Median household income reached $62,900 in 2023, which is $12,200 below the national median of $75,100. The region maintains stability with a median home value around $207,000.

Population and Investment Context

Regional population grew by 25,619 over the last five years and is projected to increase by 26,336 over the next five years. The unemployment rate for the Augusta MSA dropped to a preliminary 3.9 percent in the most recent Bureau of Labor Statistics data, down from 4.6 percent previously. Recent economic development projects in Columbia and Richmond counties are estimated to generate $3 billion in investment and 4,000 new jobs.

These indicators from local economic reports show the area operating in growth mode. Primary sectors continue to support expansion while the region tracks broader national patterns.