"This is a great day for our organization," said team co-owner Tyce Carlson. "Chris is one of the most poised and experienced drivers in the Indy Pro Series, and we intend to compete for race wins at the drop of the green flag. We have built an incredible group of talented people that will surround Chris to ensure his success."
Festa, 22, is a native of Atlanta who now makes his home in Indianapolis. He has made 39 starts with a best finish of second, most recently at the Freedom 100 at Indianapolis Motor Speedway last May.
Festa, who has tested an IndyCar Series car for Target Chip Ganassi Racing and Cheever Racing, has won two pole positions, including last season's season-opening Homestead-Miami 100.
"I am excited for the opportunity to be apart of Alliance Motorsports," Festa said. "The series appears to be gaining momentum in participation and popularity, and I believe that we have the tools to win."