Category Archives: Georgia

The love of taxes is the root of unhappiness

A recent study in Science magazine indicates that states with the highest taxes also have the least happy residents.  The Wall Street Journal, reporting on the study, argues that the causation is high taxes = unhappiness.  While we are certainly sympathetic to that point of view, we also have to wonder if it runs vice-versa, or at least cuts both ways:  unhappy people like to raise taxes.

We are… happy.  And happy to report that’s true for our region as well.  Here is a *totally random* sample of states’ rankings on the happiness of their residents.  See below the jump for the entire story.

3. Florida
4. Tennessee
12. North Carolina
16. Texas
19. Georgia
28. Virginia
43. Massachusetts
46. California
51. New York

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Good news for startups in our region

Forbes reports that the nation’s professional classes continue to move to the Southeast and Texas:

Net migration, both before and after the Great Recession, according to analysis by the Praxis Strategy Group, has continued to be strongest to the predominately red states of the South and Intermountain West.

This seems true even for those seeking high-end jobs. Between 2006 and 2008, the metropolitan areas that enjoyed the fastest percentage shift toward educated and professional workers and industries included nominally “unhip” places like Indianapolis, Charlotte, N.C., Memphis, Tenn., Salt Lake City, Jacksonville, Fla., Tampa, Fla., and Kansas City, Mo.

The overall migration numbers are even more revealing. As was the case for much of the past decade, the biggest gainers continue to include cities such as San Antonio, Dallas and Houston. Rather than being oases for migrants, some oft-cited magnets such as New York, Boston, Los Angeles and Chicago have all suffered considerable loss of population to other regions over the past year.

The venture capital industry started in the Northeast and is still largely based there and on the West Coast.  But given the relative attractiveness of the Southeastern and Texan economies for entrepreneurs, the future of the venture industry may be right here.

$128M invested in Atlanta

The Atlanta Business Chronicle reports that the venture capital industry is peachy on the Peach State.

Venture capital invested in metro Atlanta firms nearly doubled in the third quarter from a year ago, even as slightly fewer deals got done, according to the MoneyTree Report.

That’s in sharp contrast to the national picture, where venture capital investment swooned more than 30 percent year-over-year to $4.8 billion, according to the report, published by PricewaterhouseCoopers LLP (PwC) and the National Venture Capital Association (NVCA).

The spike in Georgia’s third-quarter venture funding doesn’t necessarily suggest VCs are chasing some “hot new idea or industry that’s brand new,” said Nathan Briesemeister, partner in PwC’s Atlanta technology practice.

Instead, it’s reflective of larger checks being written as investors gravitate to mid- to later rounds of funding in more mature tech companies, he said. The number of VC deals done locally dipped to 17 from 19 in the third quarter of 2008.

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