Visa announces Atlanta expansion, growing to 1,000 employees
ATLANTA (AP) — Payment processor Visa Inc. said it will expand its operations in Atlanta, growing to about 1,000 employees at a new office in the city.
Atlanta has emerged as a center of financial technology and payment processing, one draw for San Francisco-based Visa to expand in Georgia.
The company said it will open a new office in Atlanta’s midtown area in 2022. The neighborhood has been a magnet for corporate relocations in recent years. Visa didn’t say how many people it now employs in Georgia.
Alison Wentley, a spokesperson for the Georgia Department of Economic Development, said she couldn’t say how much incentives would be worth to Visa because the state has not yet signed a final agreement.
Visa could claim various tax breaks, including an income tax credit allowing it to deduct $1,250 per job annually from state income taxes, up to $6.3 million over five years, as long as workers make at least $28,000 per year and the amount deducted doesn’t exceed more than 50% of the state income taxes Visa owes.
Atlanta or Fulton County could also give property tax breaks.
Visa said its Atlanta office will concentrate on technology and client service. The company said some corporate leaders will relocate to the Atlanta office, which will be led by Michelle Gethers-Clark, chief diversity officer and head of corporate responsibility.
“Atlanta represents an epicenter of financial technology expertise, resilient entrepreneurs, diverse perspectives and a vibrant community culture,” Gethers-Clark said in a statement.