The board of Invest Atlanta, the city’s economic development agency, approved a larger than previously anticipated bond package to help aid in the company’s move from Gwinnett County to Midtown.
The board approved four bonds totaling $314 million in a deal that also will involve property tax savings for NCR of $12.6 million. NCR announced plans earlier this year for a $260 million campus, but the higher bond total is a result of anticipated future growth, said Eloisa Klementich, Invest Atlanta’s managing director of business development. The city also approved earlier this year a $3.2 million grant to induce the move.
The bonds are not backed by taxpayers.
The previously said it would relocate 3,600 workers from the Duluth area to a tract near Georgia Tech’s Technology Square. The move, the company said, is designed to help woo top technology talent from the university.
The bonds will require a court validation process, but they could be formally issued next month. Construction of the campus is expected to be finished by the end of 2017 or early 2018.
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