Fortune 500 financial technology company NCR released new renderings of its planned Midtown Atlanta headquarters on Thursday just a few hours before a planned groundbreaking ceremony for the tower.
Currently based in Duluth, the company 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.
NCR in July unveiled a design of its office tower along with developer Cousins Properties. It 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-unannounced location.
“Our new world headquarters campus is truly a watershed moment for the future of NCR and the City of Atlanta,” NCR Chairman and CEO Bill Nuti said in a news release. “We are partnering with the City of Atlanta, State of Georgia and the University System of Georgia to create an environment that will inspire passion, collaboration and innovation. It’s going to be one of the most dynamic tech communities in the world.”
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 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 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.
“NCR’s decision to build a new global headquarters in the heart of Midtown signals the City of Atlanta’s status as an economic and technological powerhouse,” Atlanta Mayor Kasim Reed said in the release. “With a $300 million investment next to Georgia Tech, NCR has chosen to put down roots alongside one of the nation’s leading centers of innovation, and in the urban core of Atlanta. Together, NCR, our tech community, and the City of Atlanta will continue to grow and thrive.”
The company will hold a ceremony to mark the start of construction at 3 p.m. today.
Among those expected to give remarks are Nuti, Reed, Cousins Properties CEO Larry Gellerstedt and Invest Atlanta CEO Craig Richard.
See a slideshow of the project below.