Atlanta Approves Incentives For US Headquarters Relocation of Global Payment Processor

At its latest meeting, the Board of Invest Atlanta approved grant awards to secure the relocation of the U.S. headquarters of Project Voice, an as yet unnamed Fintech company.

Atlanta Econdev Project Voice

Atlanta Econdev Project Voice (photo – atlantaga.gov)

The Atlanta economic development agency worked with the Georgia Department of Economic Development, the Metro Atlanta Chamber, and Georgia Power on this relocation.

Project Voice has been approved for a grant of up to $40,000 from the Economic Opportunity Fund, and is also eligible for the State of Georgia’s Regional Economic Business Assistance Grant (REBA) program and Job Tax Credits.

In this case, the Atlanta Development Authority (dba Invest Atlanta) is eligible for up to $100,000 from the REBA Grant Fund, on behalf of Project Voice. REBA is a specialized State of Georgia economic development tool that is used to enhance the state’s competitiveness in attracting significant economic development projects and as a vehicle for local, regional or state-wide initiatives that will have either short- or long-term economic development benefits.

Atlanta secured the relocation of Project Voice over competition from other states including California. Supported by state and local incentives, Project Voice will make a capital investment of $5.7 million to take up renovated Class A office space at Live Oak Square in Atlanta’s Buckhead District, a highly-established financial district that is home to some of Atlanta’s longest established law, banking, and professional service firms.

The relocation is expected to create 143 new jobs in the City of Atlanta with an average wage of $86,610. An economic impact analysis shows that the project will generate $444,000 annually in new tax income for the City of Atlanta, and $620,000 for Fulton County.

Invest Atlanta board documents describe Project Voice as a company that “provides a global network and enables merchants to securely do business in multiple channels including online, mobile, and in-person. The company is both a merchant acquirer and global processor, processing over $17 billion in annual transaction volume and supporting 150 global currencies including all major credit cards, debit, and alternative payment solutions.”

This description can be found on the website of Merchant e-Solutions, a Silicon Valley company headquartered in Redwood City, CA. The company is a subsidiary of Cielo S.A., Latin America’s leader in electronic payment solutions. Sao Paulo, Brazil-based Cielo S.A. is a publicly traded company serving more than 1.6 million active merchants and covers 99 percent of Brazilian territory. Cielo acquired Merchant e-Solutions in 2012, primarily for its industry-leading technology platform.

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