ATLANTA — A development deal to bring a new FanDuel office to Atlanta promising 900 jobs will be aided in part by a $2.25 million grant from the state to be administered through the Board of Regents of the University System of Georgia.
FanDuel announced plans to open an Atlanta office earlier this year, and public documents outlining the grant agreement show that the office will be located in 56,000 square feet of space in Ponce City Market.
The agreement will involve a $2.25 million grant from the Georgia Department of Community Affairs - a Regional Economic Business Assistance (REBA) grant - given to the Board of Regents, who will direct the money to FanDuel.
The particulars of how the Board of Regents and FanDuel will agree on using the grant money are vague, but the documents indicate the money will "pertain to programs involving talent recruitment and talent development, which will benefit" the company.
It's not clear if that will involve some sort of graduate hiring program or another initiative that would connect FanDuel to students at institutions within the University System of Georgia.
FanDuel said in a release back in May that it will support educational training programs with Georgia's universities, private colleges, and Historically Black Colleges and Universities.
The University System of Georgia is comprised of about 25 public colleges and universities in the state, from the flagship University of Georgia to Georgia Tech to smaller institutions such as Abraham Baldwin Agricultural College. It also administers the Georgia Archives and Georgia Public Library Service.
The agreement includes the provision, announced earlier by FanDuel, to create 900 jobs at its new office, giving the company a five-year window to create them. It also requires those jobs to produce "an average annual salary of $112,046, plus benefits."
The company has said it will invest more than $15 million in opening the office, also outlined in the documents, to go to "lease payments, leasehold improvements, and furniture, fixtures, and equipment."
The documents describe the new office as a "new software development and IT operation office."
According to the documents, the company expects the new office to be operational by June 1, 2022.