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Economic Development - Expansions and Relocations

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14 minutes ago, norm21499 said:

I don't think GA will suffer as much of an economic impact as NC did during the bathroom bill debacle.

I suppose it depends on how much heat this picks up, or if other laws are passed. But I agree, I think when people look at the bill overall and see campaign volunteers can't hand out food or water as the main news headline, they don't really care. Its not right, but I don't thin this is causing the same commotion. 

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1 hour ago, Blue_Devil said:

I suppose it depends on how much heat this picks up, or if other laws are passed. But I agree, I think when people look at the bill overall and see campaign volunteers can't hand out food or water as the main news headline, they don't really care. Its not right, but I don't thin this is causing the same commotion. 

I agree that the impact of this controversy may not be retroactive, but I'd imagine it is possible to see this effecting a pause or a halt in corporate plans to relocate to or expand to Georgia for the time being.  Of course, the deals and expansions that you "didn't" get are much harder to measure.  

Also, to see the Georgia legislature use a $50 million tax break as some sort of pull cord on Delta, to either punish it or reward it for its statements out of or in alignment with some recent legislative initiative, is really disconcerting.   I don't hear this sort of politicization of incentives coming out of Raleigh, but I suppose that's because we have split government.  Incentives are, of course, key features of expansion and relocation plans.  It might be impactful to legislate something into our incentives process to keep their stability , once granted, immune to any sort of political football.

House Speaker David Ralston (R) acknowledged early Thursday that the move was meant as retaliation.

“They like our public policy when we’re doing things that benefit them, and they reap the rewards of those benefits and then turn around and do this,” Ralston told reporters, according to Georgia Public Broadcasting. “As all of you know, I can’t resist a country boy line or two, you don’t feed a dog that bites your hand. You’ve got to keep that in mind.”

Edited by RANYC

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1 hour ago, RANYC said:

I agree that the impact of this controversy may not be retroactive, but I'd imagine it is possible to see this effecting a pause or a halt in corporate plans to relocate to or expand to Georgia for the time being.  Of course, the deals and expansions that you "didn't" get are much harder to measure.  

Also, to see the Georgia legislature use a $50 million tax break as some sort of pull cord on Delta, to either punish it or reward it for its statements out of or in alignment with some recent legislative initiative, is really disconcerting.   I don't hear this sort of politicization of incentives coming out of Raleigh, but I suppose that's because we have split government.  Incentives are, of course, key features of expansion and relocation plans.  It might be impactful to legislate something into our incentives process to keep their stability , once granted, immune to any sort of political football.

House Speaker David Ralston (R) acknowledged early Thursday that the move was meant as retaliation.

“They like our public policy when we’re doing things that benefit them, and they reap the rewards of those benefits and then turn around and do this,” Ralston told reporters, according to Georgia Public Broadcasting. “As all of you know, I can’t resist a country boy line or two, you don’t feed a dog that bites your hand. You’ve got to keep that in mind.”

Idiots don't seem to understand Delta employs 30,000 in metro Atlanta alone. Who has the teeth to bite, the GA GOP or Delta Air Lines?

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Heard in a conversation today Stripe is looking for a bigger presence on the East Coast, I would have to think outside of NYC we would be looked at heavily.

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34 minutes ago, Blue_Devil said:

Heard in a conversation today Stripe is looking for a bigger presence on the East Coast, I would have to think outside of NYC we would be looked at heavily.

They were very big on NY.  Hopefully, they’ll look for cost savings and will lease space in Charlotte.

https://www.google.com/amp/s/www.irishtimes.com/business/technology/stripe-joins-fintech-focus-on-new-york-instead-of-san-francisco-1.4103308%3fmode=amp

 

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so if anyone is keeping score  on HQs of even small firms that have moved here is the scorecard

Charlotte Region 3

NJ -1

NY -1  (long island firm moving to Stanly Co.)

OH -1

will a certain major healthcare company be next? 

 

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36 minutes ago, SydneyCarton said:

I'm not so sure about that.  Charlotte is really growing.

Growing the general population is a lot different than a city like Charlotte rapidly growing to be home to 7% of the nation's billionaires. We'd need to be adding 2 - 3 billionaires per year to catch SF or NY in 20 years. So far, Charlotte has 0 billionaires that list us as their primary residence.

Edited by CLT2014

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32 minutes ago, CLT2014 said:

Growing the general population is a lot different than a city like Charlotte rapidly growing to be home to 7% of the nation's billionaires. We'd need to be adding 2 - 3 billionaires per year to catch SF or NY in 20 years. So far, Charlotte has 0 billionaires that list us as their primary residence.

I am not sure if Ric Elias is fully worth a billion, but it's close as RV is a $10 billion dollar company and privately held. 

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1 minute ago, SydneyCarton said:

Personally, I think that all of these billionaires flooding into South Florida will get sick of it in a few years and will move to the QC.

Where would you rather live?

https://www.businessinsider.com/larry-ellison-oracle-real-estate-palm-beach-house-2021-4

I say this as an NC native and lifelong resident:

Why would anyone with a ten figure bank account choose to live anywhere in NC?  Is there anything here that is more dramatic/more beautiful/yummier/etc. than any number of other places if cost is no object?

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I don’t have a 10 figure bank account, but I just sold my Uptown condo and am packing up and moving to Miami. Came here in 2012 and watched the dramatic changes in uptown and south end since then.

Personally I outgrew Charlotte and while this is undoubtably a controversial statement I think Uptown had its peak for the foreseeable future in 2019.

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1 hour ago, davidclt said:

I could make a list (as a Floridian while it was a more sane and civil place):

  • Four seasons all relatively mild and all roughly three months long
  • Mountains and beach
  • Relatively sane and civil (comparatively) with mostly friendly people
  • Close to everything on the east coast and big cities in North America (you can be in Washington, New York, Toronto, Chicago or Miami within two hours)
  • Easy global access from CLT to LHR, MUC, NYC, IAD, ORD, LAX
  • Most of the amenities of big city life with more coming all the time (to Charlotte and Raleigh at least)
  • Even though money is not object, cost of living is mostly tolerable
  • The state is well managed fiscally
  • The cities are (slowly) becoming more worldly and cosmopolitan
  • There are places that are nice to visit (Florida coast, New York City, California), there are places that are nice to live (North Carolina)

yea but the whole list is of things that you can have more/better of in other places.

If I were a billionaire I would:

  • Not want to be in NC from July to September
  • Would probably want a warmer (or colder) weather winter (I might want to spend leaf season around Asheville occasionally)
  • There are lots of friendly people elsewhere and they tend to be more welcoming of outsiders ("Damn yankee"). Canadians are super nice (even the Frenchies)
  • I would not want to be CLOSE to great places, I would want to be IN one of those spectacular places
  • If I were a billionaire I think I would want my own long range jet (how many billionaires fly commercial?)
  • I for sure would not want to live in a city that has MOST of the amenities of a big city (my pallet is pretty pedestrian but I struggle to find good  food in CLT)
  • I hope I would not be concerned about marginal tax rates and the cost of housing (I would have people to worry about those things for me)
  • I think that all of the personal problems of Florida or California living could probably be easily solved with a handful of millions of dollars. That same money would not make Charlotte any more cosmopolitan however. Same can be said for beach houses, there are very few opportunities available for a grand beach house in NC (only exception might be Bald Head, Figure Eight is just a sandbar with a club and no useful inlet nearby), but there are plenty of palatial places to be had from Malibu up to Monterrey (as an example).

I am not entirely ragging on NC. Its a fine place for the vast majority of us who are stuck in the middle. I just don't think we can ever compete with places like Vancouver, Seattle, Hawaii, the central coast of California, Colorado, London, Switzerland, New Zealand or the South of France for the money is no object crowd.

Having said all this I totally understand why Jim Goodnight still lives in NC, he is a homeboy! But if your blood isn't already 30% pork fat, then I just don't think NC is a match for the super wealthy.

Edited by kermit
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I'm not sure multi-billionaires actually "live" anywhere. They're just at the _____ house for the month and then the _____ house the next month

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At the end of the day, the ultimate place of residence for billionaires is actually not even in the good ole US of A.....MONACO BABY!!  Don't have to deal with the "common people" in places like NYC, San Francisco, and the tent cities of downtown LA :)

https://moderndiplomacy.eu/2020/01/14/why-monaco-remains-the-residence-of-choice-for-billionaires-like-james-richman/

 

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In all seriousness though, it’s a matter of tint before Charlotte is home to multiple billionaires. Lots of businesses are moving here.

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