Data center jobs report; Kemp delivers State of the State; Synovus Financial ended

Summary

Georgia Today – Episode Summary
Date: January 15, 2026
Host: Peter Biello (Georgia Public Broadcasting)

Main Theme
This episode centers on significant developments affecting Georgia’s economy, state politics, and local communities. It covers corrections to a major jobs report about the state's data centers, highlights from Governor Brian Kemp’s final State of the State address, political reactions and updates, and the merger of Synovus Financial Corporation, a major Georgia bank, with Pinnacle Financial Partners. The episode also touches on grassroots concerns about local data center projects and activities honoring Dr. Martin Luther King Jr.

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Key Discussion Points & Insights

1. Data Center Jobs Report Correction

• The Georgia Department of Audits and Accounts issued a correction, stating data centers create far fewer jobs and less economic value than previously reported.
  • Original estimates: 28,000 construction jobs (2025), $3.4 billion for the state’s economy, 5,000 operations jobs, $823 million added (12:00).
  • Corrected figures: More than 8,000 construction jobs, $1 billion economic impact, over 1,000 operations jobs, $247 million added (12:00).
• The state had exempted data centers from some taxes, effectively “giving away” $474 million in fiscal year 2025 in hopes of job creation.
• No explanation was given for the error.

Memorable Moment

“Data centers produced less than a third as many jobs and less than a third as much economic value. That’s according to the Carl Vinson Institute of Government at the University of Georgia.” (12:00)

2. Governor Brian Kemp’s Final State of the State Address

• Kemp announced the Dream Scholarship, a new need-based college aid initiative:
  • Quote: "I believe we owe it to every child to ensure they start out on a level playing field no matter their zip code. Therefore, my amended budget proposal invests $325 million in the University System of Georgia’s Dream Scholarship Program." – Gov. Brian Kemp [00:52]
• Other highlights:
  • Additional tax rebates and one-time bonus for state employees.
  • Accelerated income tax cut to just under 5%.
  • Did not address a Senate proposal for total income tax elimination. (01:08)

Democratic Response

• Statehouse Minority Leader Carolyn Hughley (Columbus) criticized Republican tax policy:
  • Quote: "While they cut taxes for the top, they're increasing the pressure on homeowners, renters and local governments to make up the difference. This is not tax relief. This is cost shifting and working Georgians always end up holding the bag." – Rep. Carolyn Hughley [01:41]

3. Synovus Financial Merges with Pinnacle Financial Partners

• Synovus (Columbus-based since 1888) completed its merger with Nashville-based Pinnacle. The new holding company is headquartered in Atlanta (04:35).
• Interview: Kevin Blair, CEO of Pinnacle, on the merger’s impact:
  • Columbus retains about 850 team members; minimal job reductions anticipated (06:01).
  • Philanthropy and community outreach efforts to continue; merger aims for growth, not reduction (07:24).
  • Synovus name will remain in Columbus until a systems conversion in 2027 (08:18).
  • Declining stock value seen as short-term investor disappointment at not selling to a larger bank (09:55).
  • Quote: "In the short run the stock market is a voting machine. In the long run, it’s a weighing machine." – Kevin Blair [09:55]
  • Blair emphasized retaining local employment and a “rising tide lifts all boats” philosophy.
  • Columbus community leaders are positive about growth potential and minimal negative impact (08:18).
  • Bank expansion to rely on hiring top banking talent and client-focused service (11:39).

4. Local Data Center Debate in Forsyth

• City of Forsyth officials deadlocked on approving a massive 12 million square foot data center project (12:54).
• Resident Beau Drinkard criticized city leaders for welcoming the project and taxes but not addressing resident concerns or service needs:
  • Quote: "You know how many residents from the city of Forsyth live in this land? Zero… but they're happy to collect the taxes on them." – Beau Drinkard [13:18]
• Regional planners and the Georgia Environmental Protection Division highlight environmental concerns, particularly water supply and air quality (13:31).
• City Council vote set for February 2.

5. Additional News Briefs

• Marjorie Taylor Greene’s resignation leads to a crowded race for her former congressional seat – 22 candidates representing various parties (02:00).
• Controversy over a Georgia law allowing disqualified prosecutors’ fees; Trump seeks over $6 million reimbursement in Fulton County case. State prosecutors claim the law is likely unconstitutional (02:30).
• FEMA reimburses Augusta for about half of its Hurricane Hawaiian expenses. County has received $42 million out of $82 million submitted (13:48).
• Statewide celebrations are underway for Dr. Martin Luther King Jr.’s birthday and holiday.
  • Quote: "The 2026 King Holiday observance is more critical than ever because we are living in a time when violence, displacement, and dehumanization are being normalized." – Bernice King [14:58]
  • Activities include parades, service events, and concerts (14:34).

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Timestamps for Key Segments

• [00:52] Kemp announces the Dream Scholarship
• [01:41] Democratic response to tax policy
• [02:00] Marjorie Taylor Greene’s replacement race
• [12:00] State audit corrects data center job numbers
• [04:56] Synovus/Pinnacle merger discussion (Interview with Kevin Blair spans 04:56–12:44)
• [13:04] Forsyth data center project debate
• [14:34] Martin Luther King Jr. Day celebrations

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Notable Quotes

• "I believe we owe it to every child to ensure they start out on a level playing field no matter their zip code." – Gov. Brian Kemp [00:52]
• "While they cut taxes for the top, they're increasing the pressure on homeowners, renters and local governments to make up the difference. This is not tax relief. This is cost shifting and working Georgians always end up holding the bag." – Rep. Carolyn Hughley [01:41]
• "It's actually a really great story … and I love that story because it was on a random act of kindness." – Kevin Blair, on Synovus origins [05:02]
• "In the short run the stock market is a voting machine. In the long run, it’s a weighing machine." – Kevin Blair [09:55]
• "You know how many residents from the city of Forsyth live in this land? Zero...but they're happy to collect the taxes on them." – Beau Drinkard [13:18]
• "The 2026 King Holiday observance is more critical than ever because we are living in a time when violence, displacement, and dehumanization are being normalized." – Bernice King [14:58]

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Summary Flow
The episode delivers a brisk, well-rounded digest of economic, political, and community developments across Georgia, marked by the correction of overly optimistic data center job projections, the final priorities set out by Governor Kemp, spirited political debate on tax policy, and an insider look at how the Synovus-Pinnacle merger is set to transform but not uproot the Columbus community. Grassroots perspectives and ongoing debates — from local zoning to national political turnover — keep the pulse of Georgia’s changing landscape front and center. The style remains focused, informative, and community-attuned, with questions of economic justice, growth, and legacy recurring throughout.

Transcript

[A]

Welcome to the Georgia Today Podcast. Here we bring you the latest reports from the GPB newsroom. On today's episode, a corrected report shows data centers don't create as many jobs as once thought. Governor Brian Kemp delivers his annual State of the State address and Synovus Financial is no more. How will its hometown of Columbus, Georgia be affected?

[B]

We have a total of around 850 team members in the Columbus area and so what you should see in Columbus is not a great deal of change.

[A]

Today is Thursday, January 15th. I'm Peter Biello and this is Georgia Today. Governor Brian Kemp delivered his final State of the State address to the Legislature today. GPB Sarah Kalis reports.

[C]

In his eighth and final address, Kemp announced state investment in a new needs based effort to pay for college called the Dream Scholarship.

[B]

I believe we owe it to every child to ensure they start out on a level playing field no matter their zip code. Therefore, my amended budget proposal invests $325 million in the University System of Georgia's Dream Scholarship Program.

[C]

The scholarship is the first of its kind in Georgia history. He also announced another round of tax rebates and a one time bonus for state employees and an accelerated income tax cut to bring the income tax down to just under 5%. He did not comment on a Senate proposal to eliminate the income tax. For GPB News, I'm Sarah Kalis at the State Capitol.

[A]

Georgia Democrats are calling Republican tax cuts an illusion. Statehouse Minority Leader Columbus State Representative Carolyn Hughley delivered the party's official response to Kemp's speech.

[D]

While they cut taxes for the top, they're increasing the pressure on homeowners, renters and local governments to make up the difference. This is not tax relief. This is cost shifting and working Georgians always end up holding the bag.

[A]

You can follow the latest in Georgia [e-mail] news. A district attorney, a state senator and a trash hauling entrepreneur are among the 22 candidates aiming to succeed former U.S. congresswoman Marjorie Taylor Greene in a northwest Georgia congressional seat. A total of 17 Republicans filed to run by the time qualifying closed yesterday and as did three Democrats, a Libertarian and an independent. Candidates will run on the same all party ballot on March 10. If no one wins a majority, the top two finishers will go on to a runoff four weeks later on April 7. Green resigned from Congress earlier this month following a tumultuous five years. The head of a nonpartisan group supporting Georgia prosecutors says a new state law used by Donald Trump and others to seek attorney fees is likely unconstitutional. The Georgia Prosecuting Attorney's council executive director Pete Scandalakis wrote in a court filing yesterday that the law denies county governments due process when defendants request reimbursement. The law allows defendants to request fees if a prosecutor is disqualified for improper conduct. Trump is seeking more than $6 million from Fulton county after the now dropped prosecution led by county District Attorney Fani Willis. A spokesperson for Willis declined to comment. State auditors say they made a mistake in a report issued last month on the costs and benefits of data centers. The Georgia Department of Audits and Accounts issued a correction yesterday saying data centers create fewer jobs and add less value to the state's economy than originally estimated. In a report first released on Christmas Eve, the agency said the state effectively gave away $474 million in the fiscal year that ended in July by exempting data centers from some taxes. In exchange, auditors said data Centers created about 28,000 construction related jobs in 2025, adding $3.4 billion to the state's economy. And they created more than 5,000 data center operations jobs for an additional $823 million injection into the state economy. In the correction, the state agency revised those numbers. Data centers produced less than a third as many jobs and less than a third as much economic value. That's according to the Carl Vinson Institute of Government at the University of Georgia. Data centers actually produced more than 8,000 construction jobs and added $1 billion to the economy and more than 1,000 operations jobs for another $247 million added. There was no explanation for the error. Synovus Financial Corporation is no more. The Columbus based bank completed its merger with Nashville based Pinnacle Financial Partners. With the new year, the union creates the largest bank holding company in Georgia. The headquarters of the combined holding company will be based in Atlanta while Pinnacle headquarters remains in Nashville. So where does that leave Columbus, the bank's home since 1888? GPB's Orlando Montoya recently spoke about the merger and what comes next with Kevin Blair, president and CEO of Pinnacle.

[E]

Mr. Blair, first of all, can you talk a little bit about the history of Synovus in Columbus?

[B]

Yeah, it's actually a really great story. In 1888 there was a mill worker who was working at the cotton mill and one of the pieces of machinery happened to snag her skirt at the hemline and when it did, money fell out of the sewn in hem of her skirt. The mill owner at the time said, why would you keep your money sewn in the hem of your skirt? And she said, I have no other safe place to keep it. And from that random act of kindness, he said, well, why don't you keep your savings in my vault? That first lady took advantage of that. He started offering that to all of the other mill workers. And that's when Columbus bank and Trust basically began. And I love that story because it was on a random act of kindness.

[E]

Let's talk about the state of the company right now in Columbus. How many employees does Pinnacle currently have in the Columbus area?

[B]

We have a total of around 850 team members in the Columbus area. And that number is largely a function of technology operations. A lot of our corporate service areas as well as we have around 13 branches in the MSA. And so what you should see in Columbus is not a great deal of change. All of our client frontline bankers will stay intact. No one's changing. There was no overlap with the legacy Pinnacle franchise, so there's no reason to close branches or to downsize any of the frontline team members. Those will all stay intact. Some of the corporate service functions we also call those, some people would call them back office functions, non client facing. There'll be some overlap with other areas in the company and there'll be some right sizing. But what you should know, when we announced this merger, we said that this merger was more about growth, less about reductions. And so we committed to a cost synergy number that would only represent a headcount reduction of less than 5% of the combined company. And so just know our job is to make sure that we understand the impacts in these communities and we largely can minimize the impact from an employment standpoint.

[E]

Can you talk about the corporate philanthropy, community outreach and the overall impact of Synovus in the community and how that will continue under Pinnacle?

[B]

Well, look, it's back to the 137 years. We believe that strong banks build strong communities and strong communities support strong banks. One of the reasons we did this deal back to the scale with the Sol, we need to get larger. And when you grow your revenue faster, when you have a bigger platform from which to serve clients, it should be rising tides lift all boats. And so what we believe is that our commitment, our philanthropic commitment, both monetarily as well as the, the resources, the number of hours that we commit in our communities, those will stay intact because as I said, the people are not going anywhere. If we grow our top line faster, it just gives us the ability to put more of that revenue to work in our communities by giving even more back.

[E]

What kind of conversations have you been having with Columbus leaders in business and government.

[B]

So we have a monthly meeting of community leaders and I'm blessed to be part of that. And as you can imagine, the questions that come up are generally focused on a couple things. Number one, they want to know what the impact is going to be to the employment base. I mean, Synovus is one of the larger employers in Columbus. So they want to understand how that's going to impact the United Way, what that's going to mean for the underlying economy, and how any sort of job reductions would cause pain. Once we have the discussion that it will be minimal, I think they're very excited to hear that this thing can actually lead to growth. And if growth happens, they think it could actually benefit the Columbus MSA as long as well as all the other MSAs. Number two, they want to know about the name change. And I think one of the things that's important to note for the Synovus name, we only went to the Synovus name in 2018. For most of the years of our 130 year, 37 year heritage, we had individually chartered banks and branches across the southeast. So in Columbus we were Columbus bank and Trust. In Birmingham we were First Commercial Bank. In Atlanta, we were the bank of North Georgia. We didn't change that until 2018. So what I would submit to you is although the Synovus name has some pride and legacy to it, we've only been branded Synovus for about seven years. People want to understand when the name's going to change and that's going to happen in 2027 when we do the systems conversion.

[E]

Pinnacle stock value has declined since the merger was announced in June. What does that say about investors view of the union?

[B]

There's an old adage that in the short run the stock market is a voting machine. In the long run, it's a weighing machine. And so what you've seen happen, and it's been published by various analysts, most have stated that the reason the stock price declined on both firms is that the investment community wanted to see Synovus and Pinnacle sell to a larger bank, thinking that they would get a larger premium upfront. And that may have been the case. We didn't have any suitors. We weren't trying to sell ourselves. Pinnacle was looking for a partner to continue their legacy. And so it's easy to say that in the short run you could go out and get a larger premium, even if that existed. But I think what those same investors would say is that over the long haul, that that may not be best for the team members in this company. It may not be best for the clients, it may not be best for those communities and ultimately for the shareholders. Because if you sell yourself to a larger bank, you lose your identity and ultimately that could all fall to impacting clients and ultimately having turnover in the institution. We've seen that happen in the industry. The short run, people are voting based on what they wish would have happened. But I think you're going to see when we build this bank, which we will, we will be the most profitable regional bank, the highest level of client satisfaction amongst regional banks, the fastest growing regional bank and the most efficient regional bank. Well, if those four things don't matter, then you probably aren't investing in regional banks. But we think we're creating something very, very special.

[E]

How do you intend to do that? And whose territory are you going to compete in? I mean, name some names.

[B]

Yeah, well, look, I always hate naming names because it just creates whiteboard material for these other banks. But Orlando, here's the simple answer to that. We're going to win based on talent and we're going to win based on a level of client service that no one else has. So when we made this decision, we're going to move to this Pinnacle model. We're going to start expanding our talent base at a much faster pace. We committed next year to add 225 new revenue producers. In 2027, that number will be 250. That will serve as the impetus for growth. And ultimately we'll be able to take those resources from some of those larger institutions. And when they come over, you can imagine that they're able to win some of the business that they were able to bank at their previous institution. And that track record. Pinnacle's been doing it for 25 years. We started doing it several years ago. And so it's not a pipe dream. It's something that's been proven that we can be successful at doing. And now we're just going to accelerate that in the legacy Synova side.

[E]

Kevin Blair, president and CEO of Pinnacle Financial Partners, thank you very much.

[B]

Thank you, Orlando. It's great to be with you today.

[A]

Officials in the Middle Georgia city of Forsyth deadlocked yesterday in a vote on whether to recommend a 12 million square foot data center project moving forward. GPB's Grant Blankenship has more.

[D]

The Forsyth Technology campus is planned for a six mile long strip of timberland. It was annexed from Monroe county into the city of Forsyth in 2020. Nearby county residents like Beau Drinkard worry now city leaders are ignoring their concerns.

[A]

You know how many residents from the city of Forsyth live in this land? Zero. Cities never run a police call up there, never run a fire call up there, but they're happy to collect the taxes on them.

[D]

Before their split vote, zoning officials considered feedback from regional planners and the Georgia Environmental Protection Division suggesting challenges to water supply and air quality. The Versailles City Council votes on the data center project on February 2nd. For GPB news, I'm Grant Blankenship.

[A]

AUGUSTA Richmond county officials say the Federal Emergency Management Agency has reimbursed the Augusta government about half of its Hurricane Hawaiian expenses. So far, the county says they've submitted $82 million in expenses for FEMA reimbursement and have received about $42 million for damage that occurred now 15 months ago.

[C]

How does AI even work? Where does creativity come from? What's the secret to living longer? TED Radio Hour explores the biggest questions with some of the world's greatest thinkers. They will surprise, challenge and even change you. Listen to NPR's TED Radio Hour wherever you get your podcasts.

[A]

Celebrations honoring the life and birthday of Dr. Martin Luther King Jr. Are happening across the state this weekend through the federal holiday on Monday. The Atlanta born civil rights leader would have turned 97 years old on his birthday today, January 15th. Bernice King, CEO of the King center and King's daughter, kicked off the 2026 King Holiday observance last week, describing it as a framework for action rather than a remembrance alone.

[D]

As our nation enters another year marked by social strain, economic uncertainty, global conflict and moral confusion, the 2026 King Holiday observance is more critical than ever because we are living in a time when violence, displacement and dehumanization are being normalized.

[A]

The celebrations include parades, community service events, runs and concerts. Church GPB published a list of some of the weekend's activities that you can [e-mail] news that's it for this edition of Georgia Today. Thanks so much for tuning in. If you want to learn more about these stories, go to gpb.org news and remember to subscribe to this podcast because we're coming at you tomorrow with all of the latest Georgia headlines. If you've got feedback we want to hear from you, send it to us by email. The address is Georgia TodayPass. I'm Peter Biello. Thanks again for listening. We'll see you tomorrow.

[C]

How does AI even work? Where does creativity come from? What's the secret to living longer? TED Radio Hour explores the biggest questions with some of the world's greatest thinkers. They will surprise challenge and even change. You listen to NPR's Ted Radio Hour wherever you get your podcasts.