Economic Development - Expansions and Relocations

[nicholas]

14 hours ago, tozmervo said:

"There’s no such thing as an ethical billionaire."

Maybe Warren Buffett?

[J-Rob]

We're all flawed, but I will throw Patagonia's owner out for consideration after he donated the entire company to fight climate change. Of course, to @tozmervo's point, I guess that means he is a former-billionaire?

https://www.theguardian.com/us-news/2022/sep/14/patagonias-billionaire-owner-gives-away-company-to-fight-climate-crisis-yvon-chouinard

 

Regardless, back to the original point, I still am amused by the potential of Tepper/Jordan incubator in Charlotte, like the one the Packers created in Green Bay. Jordan is known to invest in early stage companies and even co-founded a tequila with other NBA owners.

https://www.cnbc.com/2022/09/14/michael-jordan-tequila-brand-cincoro-new-350-dollar-blend.html

 

Edited September 22, 2022 by J-Rob

[turbocraig]

26 minutes ago, J-Rob said:

I still am amused by the potential of Tepper/Jordan incubator in Charlotte, like the one the Packers created in Green Bay. Jordan is known to invest in early stage companies…”

I didn’t know this, but I got a chuckle out of it anyway.  Based on what I’ve heard from folks in the service industry here, Mr. Jordan doesn’t love parting with his money.  I get it with ROI stuff, but I still laughed. 

[HopHead]

15 hours ago, tozmervo said:

"There’s no such thing as an ethical billionaire."

Exactly... You don't get that rich by always playing by the rules. 

[tozmervo]

27 minutes ago, HopHead said:

Exactly... You don't get that rich by always playing by the rules. 

Rules are one thing, I don't think you can amass that level of wealth and still be a decent human being. 

[KJHburg]

5 hours ago, tozmervo said:

Rules are one thing, I don't think you can amass that level of wealth and still be a decent human being. 

1 Timothy 6:10 this has been talked about for thousands of years now.  And don't forget the eye of the needle.   

In terms of Mr Tepper I think he is realizing he might have to treat people differently in local governments than his hedge fund competitors.  Tryon St and Main St in Rock Hill are not Wall Street.    Some things are hard to un-learn.  I am not sure any city anywhere is totally in love with their billionaire NFL or NBA owner.  Though I do like Mr Arthur Blank of Atlanta dirty birds fame.   He did give $200 M to the Childrens Healthcare of Atlanta.  https://www.choa.org/give/updates/news/arthur-m-blank-hospital-naming

Edited September 23, 2022 by KJHburg

[videtur quam contuor]

It is much less money to have one's name on a hospital, museum or college building than is required to put one's name on a sporting stadium. Naming opportunites are a function of many gifts that seem to supersede or at least equal the philanthropic interest. 

[KJHburg]

Interesting story about NC's job incentives and remote workers.

https://charlotte.axios.com/309120/north-carolinas-butts-in-seats-incentives-model-doesnt-work-when-employees-can-work-from-anywhere/

But EDPNC the NC economic development organization said most prospects looking at NC right now are manufacturing which requires an in plant work force.  I think the figure was 90% which just 10% office relocations.  Think the Eli Lily pharmaceutical plant going up now in Concord.  

However I have heard rumors of large office tenants circling the market and I mean 100K sq ft of office space or more.  So there are some out there just less than in the past.  Plus lots of mid sized new to market tenants in the 20-50K sq ft office requirement.  Don't ask for any more details I'm out of town. 

Edited September 27, 2022 by KJHburg

[DonkeyKong]

11 hours ago, KJHburg said:

Interesting story about NC's job incentives and remote workers.

https://charlotte.axios.com/309120/north-carolinas-butts-in-seats-incentives-model-doesnt-work-when-employees-can-work-from-anywhere/

But EDPNC the NC economic development organization said most prospects looking at NC right now are manufacturing which requires an in plant work force.  I think the figure was 90% which just 10% office relocations.  Think the Eli Lily pharmaceutical plant going up now in Concord.  

However I have heard rumors of large office tenants circling the market and I mean 100K sq ft of office space or more.  So there are some out there just less than in the past.  Plus lots of mid sized new to market tenants in the 20-50K sq ft office requirement.  Don't ask for any more details I'm out of town. 

You are such a tease. 

[steve_o]

Rumor has it: Robinhood just pulled out of its lease, cancelled the NC incentives and let go of its local employees.  

[KJHburg]

Well I was gone for 2 weeks on my epic road trip and I see we had 2 corporate relocations while I was gone.  The ACC of course and this NY based manufacturer which seems to be adding 100 jobs over the next 5 years here to their Ballantyne HQ.  This was one of the biggest companies based in the Buffalo area. 

https://charlotteregion.com/news/2022/09/28/economic-development-news/columbus-mckinnon-to-move-hq-to-charlotte-from-new-york-as-part-of-growth-strategy/

[J-Rob]

48 minutes ago, KJHburg said:

Well I was gone for 2 weeks on my epic road trip

And now that you are back you can share more about those potential tenants circling the market for 100k sq. ft. 

[KJHburg]

9 minutes ago, J-Rob said:

And now that you are back you can share more about those potential tenants circling the market for 100k sq. ft. 

LOL just that I have heard of two not sure what kind of companies they are but both want 100K sq ft of office space or more and they are new to the market not existing area tenants. 

[DonkeyKong]

Jamie Dimon was just in town.  Hmmmmm

[SydneyCarton]

If JPMC can shell out $4b for a new HQ in the Forbidden City, they should invest $500m for new space in the QC.

[KJHburg]

1 hour ago, DonkeyKong said:

Jamie Dimon was just in town.  Hmmmmm

he said this in Chapel Hill at UNC talking about remote work reported by Triangle Biz Journal 

""When it comes to remote work, the leader of one of the largest investment banks in the country is ready to cancel the Zoom calls.

JPMorgan Chase (NYSE: JPM) CEO Jamie Dimon, an outspoken advocate for bringing workers back to the office, told leaders in Chapel Hill Thursday that "management by Hollywood Squares doesn't work well."

Dimon, the keynote speaker at UNC Kenan-Flagler Business School's groundbreaking event for its new building, put out a lot of one-liners, telling the crowd that while wise people learn from mistakes, the wisest "learns by other people's mistakes."  And one mistake might be not showing up to the office.  While working remotely makes sense for some jobs, Dimon said, “You learn so much from people" when collaborating in the same room. He said to look at “who’s getting ahead, who’s getting the plum assignments?” It’s the person going into the office every day, Dimon argues.  “I think people should recognize the weaknesses … we make our senior people go in,” he said.""

 

[KJHburg]

Speaking of Mr Dimon while he was in Raleigh and Chapel Hill he said this

""Dimon told Axios in an interview in Cary that he sees growth "definitely continuing" in the Triangle — and more broadly the Sunbelt region — in the coming years.  

"The weather is good. The government is trying to attract business," Dimon said. "You're going to have places like Raleigh/Durham, Nashville and Austin who are going to grow."
"And the loser, unfortunately, is going to be places like New York, Chicago and San Francisco, who have been both anti-business, have their crime problems and high taxes."""

https://www.axios.com/local/raleigh/2022/09/30/jpmorgans-jamie-dimon-on-the-triangle-economy

Speculation here but putting several things together:  along with his comments I posted above about what he said about work from home and likes in office employees I wonder (Speculation here) his company JP Morgan Chase is not one of the big 100,000 sq ft PLUS tenants looking in our market Charlotte right now.    He seems to be calling out crime and taxes in NYC and if you wanted people back in the office you can tell them  their jobs are in another city that is attractive to many NYers like Charlotte and make a condition of the move of the employee office attendance.   He seems really positive on NC for sure.  Who would be a 100K sq ft plus office tenant but someone whose company wants people in the office like a bank?   Just some speculation.

[SydneyCarton]

1 hour ago, KJHburg said:

Speaking of Mr Dimon while he was in Raleigh and Chapel Hill he said this

""Dimon told Axios in an interview in Cary that he sees growth "definitely continuing" in the Triangle — and more broadly the Sunbelt region — in the coming years.  

"The weather is good. The government is trying to attract business," Dimon said. "You're going to have places like Raleigh/Durham, Nashville and Austin who are going to grow."
"And the loser, unfortunately, is going to be places like New York, Chicago and San Francisco, who have been both anti-business, have their crime problems and high taxes."""

https://www.axios.com/local/raleigh/2022/09/30/jpmorgans-jamie-dimon-on-the-triangle-economy

Speculation here but putting several things together:  along with his comments I posted above about what he said about work from home and likes in office employees I wonder (Speculation here) his company JP Morgan Chase is not one of the big 100,000 sq ft PLUS tenants looking in our market Charlotte right now.    He seems to be calling out crime and taxes in NYC and if you wanted people back in the office you can tell them  their jobs are in another city that is attractive to many NYers like Charlotte and make a condition of the move of the employee office attendance.   He seems really positive on NC for sure.  Who would be a 100K sq ft plus office tenant but someone whose company wants people in the office like a bank?   Just some speculation.

I’d like JPMC to invest in Charlotte.   A new 1,000’ tower would be ideal.

In terms of crime though, NY is the safest city in America by far.

https://wallethub.com/edu/cities-homicide-rate/94070

Edited October 2, 2022 by SydneyCarton

[turbocraig]

3 hours ago, KJHburg said:

“And the loser, unfortunately, is going to be places like New York, Chicago and San Francisco, who have been both anti-business, have their crime problems and high taxes."

Sure.  Pay no mind to that giant headquarters tower I’m building in that crime-ridden, high taxation hellhole.

Edited October 2, 2022 by turbocraig

[KJHburg]

sounds like an expansion of a company already in the area.  From Twitter

Collin Huguley
@CBJHuguley

BREAKING: Bosch Rexroth just announced it will expand its Charlotte operations and move some existing operations to a new, 227,500-square-foot facility at 409 Tyvola Road. SunCap Property Group is developing the building for Bosch.

https://www.mecknc.gov/news/Pages/Bosch Rexroth Announces Expansion to New State-of-the-Art Customizing and Research and Development Facility in Mecklenburg.aspx   looks like an additional 24 jobs but brand new facility for the company. 

Edited October 5, 2022 by KJHburg

[SydneyCarton]

1 hour ago, KJHburg said:

sounds like an expansion of a company already in the area.  From Twitter

Collin Huguley
@CBJHuguley

BREAKING: Bosch Rexroth just announced it will expand its Charlotte operations and move some existing operations to a new, 227,500-square-foot facility at 409 Tyvola Road. SunCap Property Group is developing the building for Bosch.

https://www.mecknc.gov/news/Pages/Bosch Rexroth Announces Expansion to New State-of-the-Art Customizing and Research and Development Facility in Mecklenburg.aspx   looks like an additional 24 jobs but brand new facility for the company. 

Here’s the Observer’s story on that expansion.  Very good news!

[KJHburg]

they are picking an unusual spot in my mind right at 77 and Tyvola intersection behind the existing McDonalds and gas station.  It is an infill industrial site next to the office park.  

[NCMike1990]

I've wondered for years if that land would ever get developed. Great to see it finally happening.

[atlrvr]

For something completely different...

https://www.thedailybeast.com/google-co-founder-sergey-brin-has-a-secret-disaster-relief-squad

GSD is relocating their HQ from Silicon Valley to Charlotte.  I have no idea why, but sort of cool I guess.

[ArchiCLT]

The above partially relates to this HQ relocation announcement to Huntersville in 2021. My architecture firm is doing the shell (now complete) and upfit.

https://www.bizjournals.com/charlotte/news/2021/09/13/safeguard-medical-ceo-why-huntersville-hq.html?s=print 1/3 COURTESY SAFEGUARD MEDICAL Safeguard Medical announced inlate August it would occupy a159,120-square-foot industrialbuilding in The Park-Huntersville. Why Safeguard Medical choseHuntersville for HQ

They do interesting work: https://safeguardmedical.com/