Payment Processing Hub Atlanta: A Leading Center of Employment in IT, Financial Services and Software Atlanta is the Southeastern Hub for Payment Processing Operations A Critical Mass of IT, Financial and Software Talent Nashville Birmingham Jacksonville Atlanta s Payment Processing Snapshot 44,000 Number of payment processing workers in Atlanta 5,000+ Number of payment processing jobs created since 2008 Charlotte 345,000 Number of financial processing and IT-related workers in Atlanta As home of the first internet bank, NetBank (formerly Atlanta Internet Bank) and Equifax, metro Atlanta has historically been on the cutting-edge of new innovations, as it relates to the convergence of three key sectors: finance, IT and software. The region s talent base has been successfully supporting the needs of the world s largest corporations for decades. In fact, Atlanta is the third most-concentrated city for Fortune 500 headquarters in the country, according to the June 2014 issue of Fortune s FORTUNE 500 magazine. The region s superior accessibility and low costs have been a major draw for headquarters operations. Atlanta s Hartsfield-Jackson International airport is the most traveled in the world and home to one of the world s largest air carriers, Delta Air Lines. Why Atlanta for Payment Processing? Unsurpassed non-stop access to 163 domestic and 64 international destinations Abundant IT, software and financial labor force and competitive wages compared to competitive markets Leading position on attraction of young, college-educated professionals Renowned workforce training program Business-friendly environment Top Payment Processing/FinTech Employers Company Employment ADP Inc (3 locations) 3,140 NCR (4 locations) 2,900 Fiserv Inc (3 locations) 1,930 First Data Corp (2 locations) 1,520 Macy s Systems & Technology 1,400 LexisNexis RIAG 1,225 incomm (2 locations) 780 GE Capital and GE Consumer Finance (4 locations) 771 SITA Americas 710 Equifax 684 WorldPay 584 TSYS Total Systems Services Inc (3 locations) 558 SunTrust (HQ and payment processing functions) 550 Elavon 500 Intercontinental Exchange 450 Global Payments Inc 400 Priority Payment Systems 310 FleetCor 250 TASQ Technologies 250 PowerPlan 240 Cardlytics 215 Sources: Georgia Power Community & Economic Development, Technology Association of Georgia, Business Wise Company Database GEORGIA POWER COMMUNITY & ECONOMIC DEVELOPMENT YOUR PARTNER IN BUSINESS GEORGIA POWER, october 2014 1
Growing Payment Processing Industry An innovative business environment and world-class talent base make Atlanta a great place for payment processing operations. Elavon plans new technology center in Atlanta In January of 2013, Elavon announced plans to develop a new 10,000-square-foot innovation center called The Grove within the company s headquarters location. The Grove will house 50 high-tech workers focused on developing new payment technologies. Atlanta boasts highly skilled professionals, specifically targeted to the skills we need. We chose Atlanta to place these jobs and grow this innovation discipline, because there is absolutely no reason that a think tank can t sit here. Marianne Johnson, Elavon Executive Vice President and Global Chief of Product and Innovation Source: Atlanta Business Chronicle, 1.3.2013 Major Locations Bring More Than 5,000 New Jobs Since 2008 Company Product or Service Jobs Announced Location Year Fiserv Information technology services 500 Fulton 2014 TSYS Payment processing, customer contact center 450 Henry 2014 BitPay HQ, Peer-to-peer bitcoin payment processing system 80* Fulton 2014 and 2013 Elavon Payment processing technology, software for payment transactions 50 Atlanta 2013 Vesta Electronic Payments Software, Technology Center 500 Fulton 2011 TASQ Technologies HQ for Point-of-sale solutions 350 Cobb 2010 First Data Corp. HQ Electronics payments processing 1,000 Fulton 2009 MBS Medical billing 100 Gwinnett 2009 NCR HQ Point-of-sale solutions 1,250 Duluth 2009 Verizon Wireless Telco payment processing 100 Fulton 2009 NCR Call Centers Point-of-sale solutions 916 Gwinnett Fayette 2008 Pax Technologies HQ Card reader technologies 20 Gwinnett 2008 Source: Public announcements, Georgia Power Community & Economic Development Database * BitPay total for location and expansion Georgia is Number One in Workforce Training Quick Start is Georgia s internationally recognized skills-based training program. For more than 40 years, Quick Start has provided customized workforce training free-of-charge to qualified businesses in Georgia. Today, the program is one of the state s key assets for supporting new and expanding industries. For service industry companies including back office and payments processing type operations, Quick Start s customer support and professionalism programs are instrumental in developing and maintaining an efficient, customer-focused workforce. Quick Start and NCR launch long-term training partnership Before NCR officially announced its move to Georgia a few years ago, Quick Start was already delivering custom-designed workforce solutions for NCR s worldwide customer services division. Quick Start prepared a series of web-based training modules for the company s customer helpdesk and systems support team trainees. The Quick Start team has been fantastic. They are excellent at putting ideas forward as we ve developed this training from the ground up. AREA DEVELOPMENT Leading Workforce Development Programs 2. Louisiana 3. South Carolina 4. Alabama 5. North Carolina Source: Area Development, 9.10.2014 Den Sayer, NCR learning specialist Source: Quick Start website 2 GEORGIA POWER COMMUNITY & ECONOMIC DEVELOPMENT YOUR PARTNER IN BUSINESS GEORGIA POWER, october 2014
Concentration of Well-Qualified Workers Atlanta s payment processing workforce is one of the largest and best-trained in the country. Atlanta is the Southeastern Hub for Payment Processing Operations Bitcoin payments processor, BitPay relocates Headquarters to Atlanta In March of 2013, BitPay announced plans to relocate its headquarters to Atlanta and open a software development center. We re in the financial technology space. With the expanse of fintech companies already in Atlanta, we think it will be a good place to recruit top talent. Tony Gallispi, BitPay CEO Source: Atlanta Business Chronicle, 1.7.2013 Atlanta: 9th in Concentration of Payment Processing Workers Nationally (NAICS 522) Atlanta: 8th Fastest-Growing Employment Market (NAICS 522) (for metros with 20,000 or more workers in payments processing) Growth Rate Ranking MSA 2014 Employment CAGR* 2014 2024 1 Phoenix, AZ 72,053 2.55% 2 Dallas, TX 101,488 1.97% 3 Charlotte, NC 37,061 1.84% 4 Tampa-St. Petersburg, FL 32,048 1.81% 5 San Antonio, TX 27,617 1.51% 6 Jacksonville, FL 25,601 1.46% 7 Houston, TX 43,733 1.33% 2014 MSA Employment 1 New York, NY 167,929 2 Los Angeles, CA 102,881 3 Dallas, TX 101,488 4 Chicago, IL 96,391 5 Phoenix, AZ 72,053 6 Philadelphia, PA 68,059 7 Washington DC 48,191 8 Miami, FL 47,370 9 Atlanta, GA 43,919 10 Boston, MA 43,910 Source: Moody s Economy.com, 2014 8 Atlanta, GA 43,919 1.29% 9 Denver, CO 29,624 1.12% 10 Pittsburgh, PA 28,461 0.93% Source: Moody s Economy.com, 2014 *Compound Annual Growth Rate GEORGIA POWER COMMUNITY & ECONOMIC DEVELOPMENT YOUR PARTNER IN BUSINESS GEORGIA POWER, october 2014 3
Atlanta s Competitive Advantage Atlanta payment processing operations have low operational costs. CNBC America s Top States for Business 2. Texas 3. Utah 4. Nebraska 5. North Carolina Atlanta offers an abundant work force at competitive wages, with a low cost of business and living. Georgia is a right to work state with a tax structure that helps make it one of the most competitive in the country. These factors, among others, contribute to the state s great business-friendly environment. Low Cost of Doing Business Low Cost of Living Source: 2014 America s Top States for Business, CNBC, June 2014 SITE SELECTION Top Competitive States 2. Tennessee 3. Texas 4. Louisiana 5. North Carolina Source; Top Ten Competitive States of 2013, Site Selection magazine, May 2014 Source: Moody s Economy.com Source: ACCRA Cost of Living Index, Annual 2013 Competitive Wages and Abundant Workforce Among top payment processing hubs across the country, Atlanta s wages for workers in payment processingrelated fields are competitive. Atlanta s wage rates are among the lowest of the top ten markets. Atlanta: 4th Most Competitive Wage Rates Ranking MSA Median Hourly Wage Number of Workers 1 Miami $25.11 278,252 2 Phoenix $26.44 262,242 3 Dallas $28.85 443,654 4 Atlanta $29.55 344,610 5 Chicago $30.37 522,057 6 Philadelphia $31.18 320,984 7 Los Angeles $32.56 674,731 8 Boston $35.64 332,594 9 New York $38.75 1,115,580 10 Washington DC $42.01 462,035 Source: EMSI, 2014 4 GEORGIA POWER COMMUNITY & ECONOMIC DEVELOPMENT YOUR PARTNER IN BUSINESS GEORGIA POWER, october 2014
Atlanta s Payment Processing Talent Pool Atlanta companies have access to a diverse, skilled and affordable workforce. Atlanta s Payments Processing-Related Workers by Occupation Occupation Management Description Number of Workers Median Hourly Wage 11-3021 Computer and Information Systems Managers 8,350 $58.78 11-3031 Financial Managers 9,583 $55.29 11-3111 Compensation and Benefits Managers 359 $50.17 11-1021 General and Operations Managers 48,877 $47.01 Business and Financial Operations 13-1141 Compensation, Benefits, and Job Analysis Specialists 1,666 $30.03 13-1199 Business Operations Specialists, All Other 21,372 $32.74 13-2011 Accountants and Auditors 28,413 $32.34 13-2041 Credit Analysts 2,003 $28.49 13-2051 Financial Analysts 6,034 $35.14 13-2072 Loan Officers 5,317 $29.52 Computer and Mathematical 15-1121 Computer Systems Analysts 12,455 $36.85 15-1131 Computer Programmers 9,276 $38.39 15-1132 Software Developers, Applications 10,802 $42.58 15-1142 Network and Computer Systems Administrators 8,280 $37.51 15-1152 Computer Network Support Specialists 4,204 $29.38 Sales and Related Occupations 41-3031 Securities, Commodities, and Financial Services Sales Agents 4,160 $40.05 Office and Administrative Support 43-1011 First-Line Supervisors of Office and Administrative Support Workers 25,959 $24.57 43-3011 Bill and Account Collectors 9,978 $15.62 43-3021 Billing and Posting Clerks 9,737 $16.45 43-3031 Bookkeeping, Accounting, and Auditing Clerks 29,343 $17.19 43-3071 Tellers 6,533 $13.31 43-4041 Credit Authorizers, Checkers, and Clerks 924 $16.45 43-4051 Customer Service Representatives 63,762 $16.12 43-4131 Loan Interviewers and Clerks 3,389 $14.57 43-4141 New Accounts Clerks 443 $16.54 43-4199 Information and Record Clerks, All Other 5,463 $16.43 43-9011 Computer Operators 2,737 $16.86 43-9041 Insurance Claims and Policy Processing Clerks 5,191 $18.09 Total 344,610 $29.55 AREA DEVELOPMENT Top States for Doing Business 2. Texas 3. South Carolina 4. Alabama 5. Tennessee Source: Top States for Doing Business 2014, Area Development, 9.10.2014 Source: EMSI, 2014 GEORGIA POWER COMMUNITY & ECONOMIC DEVELOPMENT YOUR PARTNER IN BUSINESS GEORGIA POWER, october 2014 5
Georgia Power has been helping companies locate in our state for more than 85 years. We offer a full array of products and services available at no cost. To receive confidential, proven assistance, please contact one of our experienced professionals: Jonathan Sangster 404-506-7502 jlsangst@southernco.com General Manager Doug Coffey 404-506-3416 hdcoffey@southernco.com Kevin Lovelace 404-506-3144 kmlovela@southernco.com Nicole Pearson 404-506-1460 npearson@southernco.com Brenda Robbins 404-506-6617 bkrobbin@southernco.com Charles Stallworth 404-506-2312 cgstallw@southernco.com Georgia Power Community & Economic Development 75 Fifth Street NW, Atlanta, GA 30308 econdevga@southernco.com www.selectgeorgia.com 10.20.14