Atlanta stands on the brink of becoming a national technology powerhouse. But this moment demands swift, decisive action from the state Legislature. Our goal is clear: translate our tech growth into high-quality jobs, sustainable wealth and economic opportunity for every Georgian– thus securing our long-term competitive edge.
The city of Atlanta has already demonstrated its commitment: It has increased our target allocation to private markets to 3 percent of our $5 billion pension, and have committed $70 million of that $150 million. Also, the city council passed legislation to allow investment in venture capital. Both actions improve diversification and the city’s return profile.
To accelerate this momentum and ensure our most valuable talent and companies stay right here, the 2026 legislative session must prioritize a forward-looking financial strategy. Here’s a two-part plan to address the full capital lifecycle of innovation—from seed funding to growth capital.
- Catalyze the Startup Pipeline&Retain Local Talent
We graduate over 13,000 tech-related students every year, an unparalleled talent pool. Yet too many of our most promising entrepreneurs leave for other tech centers because finding early-stage funding is easier elsewhere. This “brain drain” stifles our potential.
The state can correct this with impactful, common-sense mechanisms to secure essential seed capital:
- Tax Incentives: Create compelling, auditable tax incentives for individuals and businesses who invest in local startups.
- Strategic Funding: Accelerate capital deployment for homegrown companies by funding existing, proven programs like Invest Georgia and the Georgia Research Alliance.
By aggressively funding early-stage companies, we retain our best talent and generate new jobs. To truly cement Atlanta as a top-five tech hub, we must aim for 2,000 new startups per year— six times the current rate, according to a recent BCG report.
- Grant Public Retirement Funds Strategic Flexibility
Georgia is home to a high concentration of Fortune 500 companies— a massive, built-in customer base for our local startups in FinTech, Cybersecurity and Supply Chain & Logistics. To capitalize on this, we must empower our homegrown winners to scale.
The current investment rules governing large public retirement funds are restrictive, limiting alternative asset investments— including local private market and venture capital— to a small percentage> This limit also restricts more common and stable investments like real estate.
While some underlying plans have higher limits (such as 20 percent for firefighters and 15 percent for peace officers), the general limit in Georgia remains low at 10 percent. For context, the national average for public pension allocation to alternatives is approximately 30 percent.
A measured adjustment is needed:
- Adjust the Limit: Allow expert fund managers to increase the limit for investment in alternative assets from 10 percent to a higher percentage.
The key takeaway is that increasing this limit is a call for measured, strategic flexibility, not a mandate for high-risk allocation. Moreover, because the general 10 percent limit applies to state and local retirement plans, including those in the city of Atlanta, increasing it could unlock growth-stage capital statewide.
This proposed change builds on prior legislative precedent and provides the substantial growth-stage funding our most promising companies need to evolve into national leaders, all while requiring robust safety measures—like transparency and independent audits—to protect retirees.
These two policies are a unified, two-pronged strategy. They are not merely about funding; they are about legislating the confidence required to lead the next generation of American enterprise— right here in the Peach State. By engaging with these considerations, the General Assembly has the opportunity to elevate a regional aspiration into a dynamic, statewide economic reality for all Georgians.
Donnie Beamer Jr., CFA, is the city of Atlanta’s first Senior Technology Advisor, a cabinet-level role appointed by Mayor Andre Dickens in 2023. He serves as the primary technology liaison for the Mayor’s Office, leading the Atlanta Tech Hub to connect innovation, policy and economic opportunity.
