A regional economist says, Savannah's recession is over. Michael Toma of Armstrong Atlantic State University says, his numbers show, the downturn ended for the Savannah area earlier this year. Port activity and tourism are leading Savannah's come-back.
New statistics suggest that some states are putting the recession behind them. But Georgia is not yet one of them.The U.S. Bureau of Labor Statistics ranked Georgia 50th among the states in most year-over-year job losses.
The sale of more than 20,000 acres on the coast comes while the resort and land development company seeks to restructure itself. Brunswick's largest employer faces massive debt after pursuing luxury customers just before the recession hit.