A new state law heavy with tax breaks helped lure technology equipment-maker NCR to Georgia.
NCR, the company that makes equipment including ATM’s and cash registers, is relocating its headquarters from Ohio to metro Atlanta. With it come 1,250 jobs to Duluth, along with another 870 to Columbus for a new production plant.
The deal was sealed with a more than $60-million incentive package--most of which used the so-called Mega Tax Credit bill signed by Governor Perdue last month. Georgia’s offer doubled that on the table from Dayton-Ohio officials.
Sam Williams, president of the Metro Atlanta Chamber of Commerce, says yes--the state’s investment outlay is large, but two lawmakers who sponsored the bill ensure its viability:
Officials with the Department of Economic Development say NCR is eligible for up to $56.9 million over five years. But that amount will be offset by a net gain of $49 million from items like income and sales taxes, to be felt over 10 years. Officials say added value to the deal for NCR includes global access through the airport, consistent population and workforce growth, and access to multiple university resources.
NCR, the company that makes equipment including ATM’s and cash registers, is relocating its headquarters from Ohio to metro Atlanta. With it come 1,250 jobs to Duluth, along with another 870 to Columbus for a new production plant.
The deal was sealed with a more than $60-million incentive package--most of which used the so-called Mega Tax Credit bill signed by Governor Perdue last month. Georgia’s offer doubled that on the table from Dayton-Ohio officials.
Sam Williams, president of the Metro Atlanta Chamber of Commerce, says yes--the state’s investment outlay is large, but two lawmakers who sponsored the bill ensure its viability:
"Senator Ron Stephens and Representative Larry O’Neal scrutinized the numbers from a payback point-of-view to make sure that this was more than justified even in an economic downturn."The process to lobby NCR reportedly began in February, around the time the legislation was introduced to state House lawmakers.
Officials with the Department of Economic Development say NCR is eligible for up to $56.9 million over five years. But that amount will be offset by a net gain of $49 million from items like income and sales taxes, to be felt over 10 years. Officials say added value to the deal for NCR includes global access through the airport, consistent population and workforce growth, and access to multiple university resources.
