“Nothing we own today is valued as it was before,” he said. “Everything is being recalculated.”
Speaking to the Paulding County Builders Association, Cagle told a story of a childhood friend’s father who was a wealthy man. He asked him one day what the key to success was. The answer was, “Buy low, sell high,” he said.
Cagle said he made his money in business on the buying side, not the selling side — but his friend’s father was right. This makes for an opportunity with a down economy for those looking to buy to get good prices.
“There will be more billionaires created in the next decade than we have ever seen in our lifetime,” he said.
Cagle said that Georgia is the place for this growth to occur because the state has assets others do not, such as the Port of Savannah, the fastest growing port in the nation, and Hartsfield-Jackson Atlanta International Airport, the busiest airport in the world.
“Georgia is the capital of the South,” he said.
He said it was former Gov. Zell Miller who pushed to make the port what it is today.
In addition, in the 1970s Birmingham and Atlanta were the same size, and then there was an investment into Hartsfield-Jackson.
“Today there is no comparison between Georgia and Alabama,” Cagle said.
He said these two actions were, “a proactive stance not a reactive stance.”
Now in the state there is lack of a skilled workforce, but having a college and career readiness curriculum can help fill this gap.
“Education is our driving force,” Cagle said.
With more skilled workers Georgia can bring in more strategic industries.
“Manufacturing is critical,” he said.
He said all of this came back to home builders. When residents have equity in their homes, and feel secure in their jobs, they are more willing to spend money, he said.
Paulding County is planning for the future with the Richland Creek Reservoir and the Atlanta Film Studios Paulding County, Cagle said.
“We owe it to pay it forward,” he said.