Georgia State Finance & Investment Commission (GSFIC)

What Georgia State Finance & Investment Commission (GSFIC) does

The Georgia State Financing and Investment Commission (GSFIC) is a state government agency of the State of Georgia, created in 1974 and headquartered at 270 Washington Street in Atlanta, GA, with approximately 112 employees. The agency operates through two primary divisions: the Financing & Investment Division, which issues and manages the State of Georgia's general obligation bonds (over $25 billion issued since 1974), and the Construction Division, which oversees capital outlay projects for state entities including soliciting and awarding bids, managing project progress, processing disbursements, and providing accounting services. The Deputy Executive Director currently oversees more than $5 billion in active design and construction work. GSFIC serves as the exclusive statutory vehicle for state-level debt issuance and centralized construction management for Georgia government agencies, universities, convention center authorities, and other state-managed facilities.

GSFIC's core service portfolio includes Design Review (performing over 500 constructability and code compliance reviews annually on GSFIC and non-GSFIC managed projects), Construction Testing & Inspection Services, the Peach Green Building Rating System for state-owned buildings, centralized Procurement Services, Records Maintenance (protecting legal, fiscal, historical, and administrative records in climate-controlled storage), and the State ADA Coordinator's Office. The agency's technology infrastructure includes the e-Builder project management platform, an electronic file management system, and bond issuance management infrastructure. GSFIC also co-authors the State Construction Manual with the Board of Regents of the University System of Georgia, standardizing processes for capital project delivery across state entities. Recognized projects include the $56 million GWCC Exhibit Hall BC expansion (completed January 2020 ahead of schedule and under budget) and the $276 million Savannah Convention Center expansion (groundbreaking March 2021, delayed as of February 2024).

As a government agency, GSFIC does not generate commercial revenue. Its operations are funded through state appropriations and it provides services without charging fees. The go-to-market model is institutional: state agencies submit Agency Request Forms to access construction procurement services, opportunities are advertised via the Georgia Procurement Registry, and the agency manages competitive bidding processes for design professionals, contractors, and FF&E suppliers. Customer concentration is by design — the entire operating mandate is bound to State of Georgia government entities, with anchor engagements including the Georgia World Congress Center Authority, Savannah Convention Center Authority, Georgia Military College, and the Board of Regents. GSFIC's leadership structure includes shared executive roles with the Georgia Building Authority and State Properties Commission (State Property Officer Marty Smith, CFO Chris Stamps, Legal Director Alisa Pereira, CIO Britain Turner, HR Director Jesse Moyers), reflecting its integrated role within Georgia's broader public property and construction governance framework.

Name

Georgia State Finance & Investment Commission (GSFIC)

Legal name

Georgia State Financing and Investment Commission

Website

https://gsfic.ga.gov

Company type

Public

Founded year

1974

Operating status

Operating

Headcount range

101–250 employees

Short description

The Georgia State Financing and Investment Commission (GSFIC) is a State of Georgia government agency that issues general obligation bonds and manages construction projects for state agencies, having issued over $25 billion in bonds since 1974.

Ownership category

akta.pro rank

Product category

Public Debt and Government Construction Management

NAICS

Public Finance Activities (92113), Administration of Economic Programs (926)

SIC

Services-Engineering, Accounting, Research, Management (8700)

akta.pro primary industry

Central Government Policy, Strategy & Performance (incl. OMB-style functions) (BPAIAAAB)

akta.pro secondary industry

Commercial General Contracting (New Build) (IMAFAAAA)

Keywords

• Public debt issuance
• Construction management
• Government bond financing
• Capital project oversight
• Design review services

Headquarters

HQ city

Atlanta

HQ country

United States

HQ region

North America

Offices2 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Infrastructure, Technology or R&D, Others

Revenue model

1. General Obligation Bond Issuance: GSFIC is responsible for the issuance and management of debt for the state of Georgia. Over $25 billion has been issued since the Commission's creation in 1974. The Financing and Investment Division provides funding for the state's capital projects through the issuance of general obligation bonds.
2. Construction Management Services: The Construction Division oversees capital outlay projects and provides construction management services to state entities including soliciting, receiving, and awarding bids for selection of design professionals, contractors, furniture, fixtures, and other equipment (FF&E), managing progress of projects, and providing accounting services associated with disbursements of payments.

Distribution channels3 records

Marketing channels3 records

Core offering

GSFIC is a Georgia state government commission that issues and manages general obligation bonds for state capital projects (over $25 billion issued since 1974) and operates a Construction Division that provides construction management services to state entities, including design review, procurement, bidding, project oversight, and quality assurance.

Product overview

GSFIC operates as a unified government agency with two primary divisions: the Construction Division and the Financing & Investment Division. The Construction Division manages capital outlay projects, providing construction management services including design review, quality assurance, procurement, and ADA compliance. The Financing & Investment Division handles bond issuance and investor disclosure for state capital projects. Supporting services include the Peach Program for green building certification, procurement services for vendor engagement, construction testing and inspection, records maintenance, and the State ADA Coordinator's Office for accessibility support. The agency also publishes the State Construction Manual as a collaborative guide with the Board of Regents.

Differentiator

Problem solved

Functional benefit

Products and services

• Construction Division Services Oversees capital outlay projects and provides construction management services to state entities, including soliciting bids, awarding contracts for design professionals and contractors, managing project progress, and processing payment disbursements.
• Financing & Investment Division Services Provides funding for state capital projects through the issuance of general obligation bonds, with over $25 billion issued since the Commission's creation in 1974, and manages ongoing investor disclosure and bond administration.
• Design Review Services Performs constructability and code compliance reviews of all projects prior to advertisement for bids or issuance of notice to proceed; performs over 500 reviews annually and issues construction permits on behalf of the State Fire Marshal's office.
• Peach Program (Green Building Rating System) Georgia Peach Green Building Rating System that rates and recognizes state-owned buildings optimizing energy performance, using Georgia-based materials, and meeting sustainable construction standards.
• Procurement Services Centralized procurement of goods and services for GSFIC including construction services, architectural and engineering services, consulting services, office supplies, and maintenance services.
• Construction Testing & Inspection Services Special inspections, material testing, geotechnical services, and related services for state of Georgia construction projects.
• State ADA Coordinator Services Provides comprehensive educational and technical support for state agencies to ensure programs, services, and activities are accessible and usable by individuals with disabilities.
• Records Maintenance Services Ensures protection of legal, fiscal, historical and administrative records including original construction project records, drawings, specification booklets, and historic records stored in a secured climate-controlled environment.
• State Construction Manual Collaborative guide between GSFIC and the Board of Regents of the University System of Georgia to assist state agencies, design professionals, and construction professionals with capital project processes and procedures.

Quantifiable outcome

• Over $25 billion issued in general obligation bonds since 1974
• +2 more outcomes

Named customers3 records

Segments1 record

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

Eight partnerships are on record, tiered core and minor.

• Board of Regents of the University System of GeorgiacoreStrategic or Co-development PartnerCollaborative participants in the State Construction Manual development. The SCM is a collaboration of GSFIC and the Board of Regents, in consultation with other state entities and industry experts.
• Boyken International, Inc.coreStrategic or Co-development PartnerAuthor of the State Construction Manual - the guide to assist state agencies, design professionals, special consultants, and construction professionals with processes and procedures for completing capital projects.
• Georgia World Congress Center AuthoritycoreStrategic or Co-development PartnerGSFIC managed construction projects for GWCCA including the $56 million Exhibit Hall BC expansion creating over 1 million square feet of contiguous space.
• Georgia Building AuthoritycoreStrategic or Co-development PartnerShared leadership and services - Marty Smith serves as Executive Director of GBA and Director of GSFIC Construction Division. Chris Stamps serves as CFO of both entities.
• State Properties CommissioncoreStrategic or Co-development PartnerShared leadership and services - Marty Smith serves as Executive Director and Chris Stamps serves as CFO of both SPC and GSFIC. Alisa Pereira serves as Director of Legal Services for both.
• Turner ConstructionminorStrategic or Co-development PartnerSteering Committee member for State Construction Manual development and construction professional for GWCC project.
• Holder Construction Group, LLCminorStrategic or Co-development PartnerConstruction professional for the GWCC $56 million Exhibit Hall BC expansion project completed ahead of schedule.
• PGALminorStrategic or Co-development PartnerDesign professional for GWCC Exhibit Hall BC expansion project.

Scale indicators7 records

Recent moves8 records

Expansion highlights4 records

Direct peers

• Georgia Higher Education Facilities Authority: Related Georgia state entity housed within GSFIC's Financing & Investment Division that issues bonds for higher education facilities. Operates as a sibling state bond issuer focused on a specific vertical within Georgia's public sector.
• Georgia Building Authority: Sister agency of GSFIC with shared executive leadership (Marty Smith serves as Executive Director of both; Chris Stamps is CFO of both). Manages state-owned buildings in the Capitol Hill area, providing directly comparable state government construction and facilities management services.
• New York State Dormitory Authority (DASNY): State authority that finances and constructs public facilities including education, healthcare, and government buildings using bond proceeds—a directly comparable model to GSFIC's bond issuance and construction management functions for the State of New York.
• State Properties Commission (Georgia): Sister agency of GSFIC with shared leadership including State Property Officer Marty Smith, CFO Chris Stamps, and Director of Legal Services Alisa Pereira. Provides comparable state property and asset management functions for the State of Georgia.
• Ohio Facilities Construction Commission: State agency that manages capital construction projects for state agencies and higher education institutions in Ohio. Provides directly comparable state-level construction project management, design review, and contract administration services.
• Texas Public Finance Authority: State agency that issues general obligation and revenue bonds for state agencies and higher education institutions in Texas. Directly comparable function to GSFIC's general obligation bond issuance for state capital projects.
• California Infrastructure and Economic Development Bank (IBank): State financing authority that issues bonds and provides financing for infrastructure, economic development, and public facilities. Performs the same core function of state bond issuance for capital projects that GSFIC performs for Georgia.

Broad incumbents

• Pennsylvania Department of General Services: State agency overseeing state government facilities, construction, and procurement in Pennsylvania. Performs broader facilities and real estate management alongside construction services that overlap with GSFIC's mandate.

Market position

Weaknesses4 records

Competitive moat5 records

Key risks5 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/georgia-state-finance-&-investment-commission

Revenue estimate

Valuation estimate

Number of profiles

Profiles18 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Georgia State Finance & Investment Commission (GSFIC)