The city recently made a big push to attract talent in the entertainment and film industries, which appears to have worked pretty well. It would be nice to see them do something similar for tech. It's kind of sad that the state subsidized my education (and many others) but does not have the incentives in place to keep people once they graduate.
Also, the local salaries are a big part of the reason people leave. The low cost of living does not make a difference when you can save more per year in the Bay Area than an entirely yearly salary in Atlanta.
And as someone living in ATL and working at one of the few companies to offer competitive salaries for their tech positions, this is only upside in my eyes.
I'm not saying there are any reasons they should not have been an early adopter... but Atlanta definitely has its charms, and allowing people to get a masters from a top-ten program while scarcely ever setting foot on campus seems like it could be a disservice to the state.