Economic Development - Expansions and Relocations

[KJHburg]

10 minutes ago, jjwilli said:

Maybe this parcel? http://polaris3g.mecklenburgcountync.gov/#mat=568606&pid=04713104&gisid=04713104

 

Bingo I am pretty sure it is that parcel across the street is the only Centene office in Charlotte.   I told this to someone yesterday and the 50 acres additionally could be some of Electrolux's empty parcels they have but not sure.  

[Madison Parkitect]

15 minutes ago, WEM said:

Based solely on the overhead picture, which shows a creek bisecting the property which flows into another creek at the bottom of the property, it looks like it would be south of Governor Hunt Road, north of Mallard Creek Greenway. East of Mallard Creek Road.

 

 

I was confused because I thought it was on a peninsula in an actual lake and I couldn't find anything like that on the map.

[videtur quam contuor]

What are the risks for this company and the expansion for the future? Change in government and insurance policy? Single payer, even if a bit at a time? New competitors? Hospitals interacting with insurers directly? I know nothing about this business but all businesses have existential risks, including some that cannot be foreseen. 

[CLT>]

48 minutes ago, jjwilli said:

Maybe this parcel? http://polaris3g.mecklenburgcountync.gov/#mat=568606&pid=04713104&gisid=04713104

 

I think everyone broke POLARIS. It's been struggling for the last hour.

[Hushpuppy321]

Anyone in the know understand how this announced Regional HQ to Charlotte compares with the Amazon Jobs we lost out on to Nashville?  They’re getting up to 5000 support folks from Amazon

Edited July 1, 2020 by Hushpuppy321

[QCxpat]

Wednesday, July 1, 2020 - Raining in Uptown 2:22 p.m.

As the old adage says:  "Rain or snow on the first day of a new venture is a sign of good fortune."  

   

BREAKING: 6,000+ new jobs? Health-insurance giant details plans in UCity A big win for the University area, as Centene plans 80-acre campus off W.T. Harris Boulevard; $1B in investment; $100,000 average salaries; CEO heaps praise on Charlotte; Renderings Centene CEO outlines plans for massive Charlotte campus; commits to 3,200 jobs in initial phase   by Tony Mecia Get ready to start hearing the name “Centene” a lot more around Charlotte. In the biggest economic-development deal in state history, the CEO of health-insurance giant Centene said Wednesday that it will build an East Coast regional headquarters and technology hub on an 80-acre site in the University City area — a massive project that he said could eventually employ more than 6,000 workers. Average salaries: more than $100,000 a year. The company plans to break ground on the site — off Mallard Creek Road north of W.T. Harris Boulevard, part of University Research Park — as soon as next month. It has committed to invest $1B over the next 12 years and to create about 3,200 jobs. The deal was greased by a $388M state grant, the largest such grant in state history. It is tied to job creation and investment and would be paid to the company over a period as long as 39 years, the Commerce Department said. Praise for Charlotte: At a virtual news conference, CEO Michael Neidorff  — wearing a pin with North Carolina’s state flag — thanked state and local leaders and heaped praise on Charlotte, which is always music to Charlotte’s ears. Charlotte, he said, “has all the elements of a great city: successful schools, impressive infrastructure, great diversity and tremendous opportunity for upward economic mobility.” He said millennials are moving to town because they are “enticed by a city on the move and a city that continues to grow.” He praised Charlotte’s investment in light rail and its airport. He said the campus will include 1 million s.f. of office space in six buildings, a training center, walking trails, a water feature and places for “spiritual nourishment.” The plans also showed four parking decks. The area will “leverage the treed foothill-like setting to create a sense of seclusion from the urban environment.” He shared a few renderings:   Centene, #42 on the Fortune 500 list, is a fast-growing health insurance company headquartered in St. Louis that has about $75B in annual revenue. And it projects its 2020 revenue will increase by more than 50% as the company expands. Another boost for University area: The deal is a big win for the University area, which lately has been attracting a number of business expansions and new housing and retail developments. Economic development officials like to tout the area’s proximity to UNC Charlotte, relative lack of traffic, affordability and quality of life. “There is a lot of hustle and bustle, without a doubt,” said Darlene Heater, executive director of University City Partners, an economic development group that champions the area. It’s now the second-largest employment center behind uptown and also has a tree canopy that provides “a very verdant environment.” County commission chairman George Dunlap said the company’s presence will have a “profound and lasting impact” on the University area and will help the entire county. “University City is positioned to become a powerhouse in driving employment and growth in the region and in the state,” he said. At University Research Park, Centene will join other big companies including Wells Fargo, TIAA and Duke Energy. The company says it also has on option on an additional 50 acres for potential expansion down the line. The company’s name is pronounced “sent-EEN.” Red Letter day - "Centene Day" - What a great day for the lovely Queen City and for the Tar Heel State! Link: https://charlotteledger.substack.com/

Edited July 1, 2020 by QCxpat

[slipperypete]

2 hours ago, CLT2014 said:

Did they mention where the specific 80 acres are that they purchased?

Edit: Looks like I was late with that info. I should have refreshed the page first, lol. 

I haven't seen anything official, but the shape matches Parcel ID 04713104 pretty well.  The point at the upper right would be the intersection of David Taylor Dr and Governor Hunt Rd.  If so that would also give it connectivity to the Mallard Creek Greenway, which could be a definite livability bonus for employees who live in the vicinity. As a company involved in health care you would think they should provide facilities for people to walk, run and bike to work. 

Edited July 1, 2020 by slipperypete

[Guest]

22 minutes ago, Hushpuppy321 said:

Anyone in the know understand how this announced Regional HQ to Charlotte compares with the Amazon Jobs we lost out on to Nashville?  They’re getting up to 5000 support folks from Amazon

3,000 now, but plans for 6000+ average salary 100k

[tozmervo]

Wouldn't be surprised to know that Mallard Creek Greenway was a good sales pitch tool. Would be a nice amenity for staff there. 

[CharlotteWkndBuzz]

5pm rush hour should be fun for Wells Fargo CIC and Centene employees lol jk.  Boardwalk renovations/makeover can't come soon enough.  Time to up the quality around the U-City all around (housing options, restaurants, entertainment, etc).

[RANYC]

To be clear, the Centene project is still not the rumored "game-changing" project for the area along the dividing line between Uptown and South End?

[Guest]

6 minutes ago, RANYC said:

To be clear, the Centene project is still not the rumored "game-changing" project for the area along the dividing line between Uptown and South End?

The two other things going on in SouthEnd at LoSo Station and on Carson Blvd will be much smaller than Centene I'd imagine.

[KJHburg]

2 hours ago, Hushpuppy321 said:

Anyone in the know understand how this announced Regional HQ to Charlotte compares with the Amazon Jobs we lost out on to Nashville?  They’re getting up to 5000 support folks from Amazon

Nashville with Amazon got an initial 5000 jobs with average salary around 100K as well.  This is initial 3200 jobs but hopes to grow with land to 6000 jobs.  But this along with other Charlotte recent wins we are doing quite fine without Amazon.  

[rancenc]

From the NC Dept of Commerce on today's announcement.

https://www.nccommerce.com/news/press-releases/governor-cooper-announces-over-3000-new-jobs-centene-corporation-selects-0

[KJHburg]

From an in depth CLT Biz Journal article breaks down the jobs:

2405 Governor Hunt Rd is the address and the parcel mention above repeatedly

""Of the 3,200 promised jobs here, 1,000 are classified as operations roles with annual pay averaging $63,000.   Those are accessible jobs that offer opportunities to locals — and, with the combination of childcare on site and the company-backed training center, the mayor and other government leaders are hoping the lower-rung jobs can lead to advancement. Centene also plans for the Charlotte campus to be a tech center, with 1,000 jobs paying $123,000.  Other jobs to be added here include risk assessment, behavioral management, finance and marketing. Centene’s overall annual average salary in Charlotte is projected to be $100,000; Mecklenburg County’s average is $68,000.""

Great subscriber article 

https://www.bizjournals.com/charlotte/news/2020/07/01/centene-must-deliver-on-big-promises.html

[RANYC]

41 minutes ago, KJHburg said:

Nashville with Amazon got an initial 5000 jobs with average salary around 100K as well.  This is initial 3200 jobs but hopes to grow with land to 6000 jobs.  But this along with other Charlotte recent wins we are doing quite fine without Amazon.  

From Centene annual report risk factors: 

The majority of our revenues come from government subsidized healthcare programs including Medicaid, Medicare, TRICARE, CHIP, LTSS, ABD, Foster Care and Health Insurance Marketplace premiums...Future levels of funding and premium rates may be affected by continuing government efforts to contain healthcare costs and may further be affected by state and federal budgetary constraints. Governments periodically consider reducing or reallocating the amount of money they spend for Medicaid, Medicare, TRICARE, CHIP, LTSS, ABD and Foster Care. Furthermore, Medicare remains subject to the automatic spending reductions imposed by the Budget Control Act of 2011 and the American Taxpayer Relief Act of 2012 ("sequestration"), subject to a 2% cap, which was extended by the Bipartisan Budget Act of 2018 for an additional two years through 2027.

[michaelef]

Great for Charlotte and the campus looks beautiful. Will it be near any transit stops? The only thing I don't like about campuses like this is that it is car focused.

[utcltjay]

1 hour ago, michaelef said:

Great for Charlotte and the campus looks beautiful. Will it be near any transit stops? The only thing I don't like about campuses like this is that it is car focused.

I think it's time the city starts looking at a street car connecting the light rail line to Northlake / I-77 running down the middle of Harris. 

[SoDoSoPa]

7 hours ago, Hushpuppy321 said:

Anyone in the know understand how this announced Regional HQ to Charlotte compares with the Amazon Jobs we lost out on to Nashville?  They’re getting up to 5000 support folks from Amazon

I think in terms of headlines, it's obviously not as eye catching as Amazon.  I honestly didn't know what the company was until I heard the news last night.  But it's better in a lot of ways, it creates a larger diversity of jobs in finance, marketing, etc. along with the 1,000 IT jobs.  It also creates another "tech center" here in Charlotte for a Fortune 500 company, which seems to be a recent trend.  Only thing I wish they had done different is to build the tech center part of the campus in the SouthEnd, like Lowe's or Allstate did. 

[Guest]

16 minutes ago, SoDoSoPa said:

I think in terms of headlines, it's obviously not as eye catching as Amazon.  I honestly didn't know what the company was until I heard the news last night.  But it's better in a lot of ways, it creates a larger diversity of jobs in finance, marketing, etc. along with the 1,000 IT jobs.  It also creates another "tech center" here in Charlotte for a Fortune 500 company, which seems to be a recent trend.  Only thing I wish they had done different is to build the tech center part of the campus in the SouthEnd, like Lowe's or Allstate did. 

might not only be a regional HQ for much longer, story to come :-)

Edited July 2, 2020 by Guest

[RANYC]

15 minutes ago, Tyree Ricardo said:

might not only be a regional HQ for much longer, story to come :-)

ooooh, please tell me more

So tech services in university research park, but uptown or south end for the Front Office?

[Guest]

3 minutes ago, RANYC said:

ooooh, please tell me more

So tech services in university research park, but uptown or south end for the Front Office?

by for much longer, I mean a few years, not like this instant. But I think Centene will be looking for friendly pastures. 

[U_R_]

1 hour ago, Tyree Ricardo said:

by for much longer, I mean a few years, not like this instant. But I think Centene will be looking for friendly pastures. 

I could see maybe in a few years (would still be a stretch). Centene just built a massive and beautiful complex in downtown Clayton. 

https://claycorp.com/project/centene-centre/

Just look at it!

[XRZ.ME]

Maybe a branch for BLE after university blvd station toward old IBM campus and this site?

[Desert Power]

21 minutes ago, XRZ.ME said:

Maybe a branch for BLE after university blvd station toward old IBM campus and this site?

We need good circulator buses for this type of stuff, but it is impossible to trust CATS to provide.