NCR, the Fortune 500 maker of ATMs and cash registers, plans to hold a ground-breaking ceremony Thursday for its future Midtown Atlanta headquarters.
NCR, currently based in Duluth, announced plans earlier this year to shift its headquarters to Atlanta to be close to the campus of Georgia Tech and tap into the student and faculty talent at the research university.
The company in July unveiled a design of its office tower along with developer Cousins Properties. NCR has said 3,600 workers will be based in Midtown and the company is also readying plans for a suburban campus at an as-yet-undisclosed location.
The Midtown tower, a design that’s likely about 20-stories, will rise at 8th and Spring Street in Midtown near Georgia Tech’s Technology Square. There is also room on the property for a second phase if necessary, NCR and Cousins officials have said.
City leaders have described the project as having a total development value of $260 million that could rise to more than $300 million. NCR is best known for making ATMs and cash registers, but the company is changing into more of a software and services business under Chairman and CEO Bill Nuti.
Nuti has said the company wants to be instrumental in creating a “Silicon Valley of the East” in Midtown, and the building and efforts to engage Tech are key to that vision.
The move to the city from Duluth also involved $16 million in incentives, mainly tax breaks. But that number could climb if the company creates jobs.
The event will include Nuti, Atlanta Mayor Kasim Reed, Invest Atlanta CEO Craig Richard and Cousins CEO Larry Gellerstedt, according to a media invitation.