Hultzen, the No. 2 overall pick in the 2011 draft, was 8-3 with a 1.19 ERA in 13 starts with Jackson, and is scheduled to make his first Triple-A start on Saturday in Colorado Springs.
The 22-year-old entered the 2012 season ranked as the No. 16 prospect in baseball by MLB.com, and was named Southern League Pitcher of the Week in consecutive weeks, May 28-June 3 and June 4-10.
The lefty was the starting pitcher for the North Division in the Southern League All-Star game on Tuesday night, tossing a scoreless first inning with a walk and strikeout.
Franklin, the No. 27 overall pick in the 2009 draft, hit .322 with four home runs and 26 RBIs in 57 games with Jackson.
The 21-year-old was the starting shortstop in the Southern League All-Star game, going 0-for-3 with a walk. He was recently named the Topps Southern League Player of the Month for May after batting .394.
Franklin entered the 2012 season rated by MLB.com as the No. 52 overall prospect in baseball and the No. 6 shortstop.