Athenahealth, a company based in Watertown, Mass., announced that it would be relocating to Atlanta’s Ponce City Market and bringing 500 new jobs with it.

The health IT firm formally announced the move Monday.

Athenahealth offers cloud-based services for physician practice management and electronic medical records. The company currently has about 100 employees in Alpharetta. Those employees will relocate to the new office in Ponce City Market. The company plans to add 400 additional jobs over five years.

“The athenahealth win is huge for the city, our residents and the Ponce de Leon corridor,” said Mayor Reed. “The company’s commitment to our city continues Atlanta’s successful string of attracting major operations and headquarters of sought-after companies.”

In the past year, Invest Atlanta has worked to bring several headquarters and expansions to the city, including PulteGroup, ExactTarget and Carter’s.

“The City of Atlanta’s ability to attract a company such as athenahealth is a testament to the strides we are making to position Atlanta as an innovation hub and global city,” said Brian P. McGowan, President and CEO of Invest Atlanta. “Jobs such as the ones athenahealth will bring to Atlanta enable the city to provide great opportunities for our highly skilled and competitive work force.”

Invest Atlanta will make a grant to athenahealth from city’s Economic Opportunity Fund. The grant is subject to approval by Atlanta City Council. The State of Georgia also will provide an economic incentive.

“Ponce City Market offers athenahealth everything we could ask for in an office space as we deepen our roots in Atlanta, and presents us with a chance to provide a daily environment that lives up to the work-life aspirations of our company,” said Jonathan Bush, Chairman and CEO of athenahealth. “With hundreds more future athenistas to hire, we believe the potential of the Ponce City Market is the differentiator that will help attract the best talent metro Atlanta has to offer.”

Athenahealth’s decision to establish a major business center at Ponce City Market, the former City Hall East, highlights the strengths of the building’s office component. The mixed-use project will include residential units, restaurants and retail in addition to the office space.

Ponce City Market is adjacent to the Atlanta BeltLine’s Eastside Trail.

In 2011, Invest Atlanta completed the sale of City Hall East to Jamestown Properties, which is redeveloping the 1.1 million-square-foot complex.

“Athenahealth is a trusted, innovative company that contributes significantly to the robust, progressive business community we are developing at Ponce City Market,” said Matt Bronfman, CEO of Jamestown Properties. “The company’s presence in the development cements Ponce City Market as a hub for innovation in the Atlanta area.”

Invest Atlanta and Mayor Reed worked with the Georgia Department of Community Affairs to establish the Ponce City Market Opportunity Zone, which provided tax credits to companies that create new jobs in the zone.

“Ponce City Market now is well on its way to being successful and to re-energizing the Ponce corridor,” McGowan said. “The development will serve as a cornerstone of other redevelopment in the area.”

(Photo: An artist rendering of the yet-to-be-completed Ponce City Market)

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