Atlanta’s City Council has approved up to $675,000 in investment grants for three companies relocating their headquarters to the city.
Technology firms Keysight Technologies, Global Payments and GE Digital are up for so-called “economic opportunity fund” grants.
“So, these grants could be used for anything to help support their move to the city of Atlanta,” explains Eloisa Klementich, president and CEO of Invest Atlanta, the city’s economic development arm. Such expenses could include anything from equipment to improvements to company properties.
The companies, in turn, have five years to make good on certain guarantees. Those include promises of 641 new jobs — 150 at Global Payments with average wages of $215,000; 241 at Keysight Technologies with average wages of $130,000; and 250 at GE Digital.
Klementich says these firms are worth wooing with dollars because of what's called “the clustering effect,” taking place in Atlanta.
“We’re seeing a lot of interest of information, financial technology companies, health information technology, payment processing," Klementich says, "because they want to leverage off of employees, ideas, and this inner collaboration.”
She also says Georgia Tech is graduating students trained to work at these companies.
It’s not yet a done deal. Invest Atlanta must approve the grants at their meetings in July and August. Klementich says the outlook for passage is favorable.