ATLANTA (AP) — Cisco says it will expand its presence in Georgia by opening a new 700-employee office in midtown Atlanta.
The California-based tech giant is investing $41 million to open in a massive complex developed on land owned by Georgia Tech. Cisco says it wants to focus on hiring more engineers and programmers from Georgia Tech, Georgia State University and the colleges of the historically Black Atlanta University Center: Morehouse College, Spelman College, Clark Atlanta University and the Morehouse School of Medicine.
“Having experienced this community’s burgeoning talent pool, I can’t wait to open our doors and begin hiring, collaborating with and supporting the next generation of extraordinary Cisco teammates at every level,” Cisco Chief Financial Officer R. Scott Herren, a Georgia native, wrote on the company's website.
The announcement continues a series of tech-focused expansions targeting areas close to downtown Atlanta. In recent months, Microsoft, which was already adding 1,500 jobs, bought land for a major campus northwest of downtown. Visa, Facebook and Airbnb have also announced plans to create or expand Atlanta operations.
Cisco said it would open what it's calling a “Talent and Collaboration Center” in summer 2022. The company said it would hire people in engineering, customer experience and finance, including students, entry-level positions and midcareer professionals.
Cisco 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 $4.4 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 Cisco owes.
The state said a final agreement hasn't been completed and it's unclear if it will offer discretionary incentives. Fulton County said it didn't offer local incentives.
Cisco bought Scientific Atlanta, a maker of telecommunications and networking equipment, for $7 billion in 2006 in what was then Cisco's largest acquisition. The company already has offices in Alpharetta and Sandy Springs with 1,000 employees.