The irony is that the Tour de Georgia set the stage for the Tour of California. The same people put it on. As a course marshal for the 2004 and 2005 Tours de Georgia, I was invited to work the first California race, but couldn't afford the trip. Many of my fellow marshals did go and had a great time.

The Georgia sponsors didn't go to California. They never really materialized in the first place. At least not at the needed level of support and commitment.
As for fans, I would guess that the percentage of Georgia residents that watched the TdG races was probably as high or higher than in California. But we just don't have the total population numbers here. We also don't have the available money from sponsors or fans. We don't have the level of media available. From a business standpoint, I can't see how a race in Georgia could ever compete with a race in California for monetary return on investment. But as a competitive race and for value for developing a team for bigger European races, the terrain and layout in Georgia can hold its own. What is needed (in my humble and unqualified opinion) is a sponsor or group of sponsors who care enough about the sport to accept lower profit potential in the interest of doing what is good for the sport. Not saying they should accept losing money, but just not expect to make as much as with the California race. What the race has done to promote interest in bicycling and bicycle racing at the local level is huge and worth buying into. It will be a crying shame if it does not return.