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Oracle, 60 acres at River North, 1,200,000 sq. ft. of space, $1.2B Investment, 8,500 jobs


markhollin

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41 minutes ago, volsfanwill said:

that Screams 1999.

OH btw. Im back.  havent checked the board since early May of last year.  I just spent the last 3 weeks catching back up.  there was A LOT to read!

Me, too, @volsfanwill.  It's taken me more than 3 weeks and I'm still not caught up.  Now, with the Oracle announcement and the ensuing speculation, UP will blow up and it will take me another month to read the new stuff.

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Analysis on how Oracle's new  influx of 8,500 employees (and probably another 10,000 + ancillary jobs) over the next decade could effect the already tight Nashville area housing market at The Tennessean here:

https://www.tennessean.com/story/money/2021/04/16/what-does-oracles-proposal-mean-nashvilles-housing-market/7222043002/

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7 minutes ago, nashvylle said:

Can you summarize what was said please?

Essentially the state ECD office was frustrated with the announcement, as they wanted to communicate the project to Metro Council/other stakeholders quietly, as its not yet finalized. 
 

Key quotes: 

But multiple people familiar with the pending deal told The Tennessean the news amplified frustrations in both Gov. Bill Lee's office and the Tennessee Department of Economic & Community Development.

Commissioner Bob Rolfe called it "fair observations."

State and local officials worked with Oracle and consultants to figure out how to alert stakeholders to the massive project, without formally announcing it.

"We wanted to do it quietly," Rolfe told The Tennessean Thursday. "But I promise you, we are cheering on the Metro Council, the Chamber of Commerce and the various groups. This to me is the most transformative project in Nashville's history and Tennessee."

 

From later in the article: 

In Rolfe's view, there is no project yet. LandingOracle continues to be highly competitive.

"Where Oracle will give the state and city a leg up is if Metro Council approves," Rolfe said. "I'm not taking that for granted. Our job is to be 100% supportive in the hopes that they will." 

 

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I am quite surprised this was announced before it was finalized.  with the exception of Amazon HQ2 search which was highly promoted by them and publicized that is not the way big econ development deals are done.   It seems TN and Nashville have played their hand so to speak and other states might say we can do you one better come here.  I saw your mayor saying this and that about it and question when is his next election?  it is coming this November?  (on another note first the property taxes were going up 35% now they are rolling them back?) I guess that is another thread.  

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1 hour ago, MLBrumby said:

I think they used the term "holds its breath" because they know how Cooper can sabotage the whole thing with one comment. So far, he hasn't screwed up... but there's still time. 

I’m sure a few eyebrows were raised with his typical poorly thought out comments from this morning. 

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On 4/16/2021 at 3:49 PM, smeagolsfree said:

This has been a very badly kept secret from day one. The Post reported from reliable sources over two years ago and that was from the Oracle end. The Metro end has not been much better. 

This mayor has two and half more years or so left on his term I think.

I mean STG moved here right around the time I moved to the city and I believe that may have triggered some of your intel, no? STG designed Oracle's campus in Austin and I know I applied there way back when I was looking for work. If that is any indication, this has been a very long time coming.

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More coverage from the NBJ. Bob Rolfe views upcoming Metro Council vote as “make or break” to Oracle officially committing to the campus: https://www.bizjournals.com/nashville/news/2021/04/20/oracle-metro-council-incentive.html?ana=twt

Key quote: 

"I think it is make-or-break, in my professional opinion," said Bob Rolfe, commissioner of the state Department of Economic and Community Development. "If the city and the Metro Council approve it, I think we stand not a 99% chance but a 95% chance that we will be selected. But I think anything short of that approval — or any tinkering with it or tweaking it — may not be the direction that company may choose to go."”

I know Director Rolfe wanted this to be communicated quietly because it’s not a done deal, but what did they expect? The public notice went out on the 13th, and the NBJ/Tennessean were able to get details/comments and put their stories out on the 14th. I’m curious as to why they would line up the public hearing and council votes without everything being officially agreed to. 

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47 minutes ago, downtownresident said:

More coverage from the NBJ. Bob Rolfe views upcoming Metro Council vote as “make or break” to Oracle officially committing to the campus: https://www.bizjournals.com/nashville/news/2021/04/20/oracle-metro-council-incentive.html?ana=twt

Key quote: 

"I think it is make-or-break, in my professional opinion," said Bob Rolfe, commissioner of the state Department of Economic and Community Development. "If the city and the Metro Council approve it, I think we stand not a 99% chance but a 95% chance that we will be selected. But I think anything short of that approval — or any tinkering with it or tweaking it — may not be the direction that company may choose to go."”

I know Director Rolfe wanted this to be communicated quietly because it’s not a done deal, but what did they expect? The public notice went out on the 13th, and the NBJ/Tennessean were able to get details/comments and put their stories out on the 14th. I’m curious as to why they would line up the public hearing and council votes without everything being officially agreed to. 

I think oracle will come to Nashville if the metro council approves it I don’t understand this cautious tiptoeing. Just like Amazon it’s all down to the council

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54 minutes ago, Binbin98 said:

I think oracle will come to Nashville if the metro council approves it I don’t understand this cautious tiptoeing. Just like Amazon it’s all down to the council

In my reading it is putting pressure on the council that if you try to tinker with this too much you might kill 8500 jobs.

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32 minutes ago, DDIG said:

In my reading it is putting pressure on the council that if you try to tinker with this too much you might kill 8500 jobs.

Honestly that’s what I’m worried about. I’m not worried about it passing. More worried about the various amendments and such that may poison the deal. 

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  • markhollin changed the title to Oracle, 60 acres at River North, 1,200,000 sq. ft. of space, $1.2B Investment, 8,500 jobs

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