Atlanta Economic Development Thread

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A thread with updates on good and bad economic development for the Atlanta Area.

 

 

To start off, some Atlanta tech companies are expanding in Atlanta.
(Paid Article)
https://www.bizjournals.com/atlanta/...nd-adding.html

I got this from the Atlanta Inno weekly newletter.

"Looking to make a move in the tech sector? Well, two local tech companies have announced plans to expand their headquarters and add hundreds of new positions. Mailchimp appears to be staying at its headquarters in Ponce City Market, but told the Atlanta Business Chronicle it could add up to 200 jobs in the city by the end of this year. It's likely to expand its offices or maybe even take over another floor at the former Sears plant. 

Evident ID Inc., a cybersecurity software startup in Buckhead, could add more than 100 jobs, according to the ABC. The startup is moving from a mid-rise building on Piedmont Rd. to Resurgens Plaza, the building connected to the Lenox MARTA station."

 

 

Emory University has overtaken Delta Air Lines Inc. as metro Atlanta's largest employer.

Full-time employees at the end of 2018

• Emory 31,214
• Delta 30,714

https://www.bizjournals.com/atlanta/...source=twitter

 

 

https://www.businesstoday.in/current...ry/365392.html

"Ebix Inc, the US-based supplier of on-demand software and e-commerce services to the insurance, healthcare, financial and e-learning industries, has acquired Yatra Online Inc, for an enterprise value of $337.8 million (Rs 2,323.6 crore) in an all-stock deal. The two companies have entered into a definitive agreement under which Ebix will acquire Yatra via merger.The transaction will create India's largest and most profitable travel services company.The transaction has been approved unanimously by each of Ebix's and Yatra's Boards of Directors, and it is expected to close by the fourth quarter of 2019."

 

 

"Atlanta based Cortland Partners has reached an agreement with Canada’s Pure Multi-Family REIT to acquire it in an all-cash transaction of $1.2 billion, including net debt. The REIT’s apartment portfolio is located in Texas and Arizona, allowing Cortland to double down on its own Sunbelt-based market strategy. Specifically, Pure Multi-Family owns and operates 22 apartment communities consisting of 7,085 apartment units in these two states. Cortland’s portfolio consists of 155 apartment communities with over 50,000 units in the US and has regional offices in Charlotte, Dallas, Denver, Houston, and Orlando"

https://www.globest.com/2019/07/19/c...20190619161434

Edited July 19, 2019 by Ric0_0
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https://www.prnewswire.com/news-rele...300889047.html
Graphic Packaging

"Q2 Net Sales were $1,552.8 million versus $1,510.9 million in the prior year period."
"Q2 Net Income was $63.8 million versus $49.4 million in the prior year period."

"Graphic Packaging Holding Company also announced today that it has reached an agreement to acquire substantially all the assets of Artistic Carton Company through a subsidiary, subject to standard closing conditions. The business includes one coated recycled paperboard (CRB) mill located in White Pigeon, Michigan with annual production capacity of approximately 70,000 tons and two converting facilities located in Auburn, IN and Elgin, IL. The business generated $63 million in revenue during the twelve months ended June 30, 2019. The business is expected to generate approximately $10 million in annualized EBITDA including anticipated synergies over the next 12-18 months. The transaction is expected to close in the third quarter of 2019."

 

"Delta’s adjusted operating revenue of $12.5 billion for the June quarter improved 8.7 percent, $1 billion higher than prior year quarter. This revenue result marks a record for the company, driven by improvements across Delta’s business, including a ten percent increase in premium product ticket revenue and double-digit percentage increases in loyalty and third-party maintenance revenue."
https://news.delta.com/delta-air-lin...er-2019-profit

 

 

https://www.bizjournals.com/atlanta/..._news_headline

Only San Francisco, New York and Toronto saw greater increases over that period, based on research released by commercial real estate services company CBRE Group Inc.  Atlanta, which gained 31,880 technology jobs between 2013 and 2018, ranked 9th overall in CBRE's Tech Talent scorecard.  Atlanta produced 28,362 tech degrees while adding almost 32,000 jobs.

Edited July 25, 2019 by Ric0_0

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Earning reports for thre Atlanta companies:

Pulte Group
https://www.businesswire.com/news/ho...ancial-Results
Asburry Automotive
https://www.prnewswire.com/news-rele...300891506.html
Equifax
https://www.prnewswire.com/news-rele...300890622.html

 

While this may have taken place in April 2019, I still find this to be quite important. Rollins Inc, a home grown Atlanta company, has been doing very well lately. It seems that they might even bump into the Fortune 1000 for 2020. 

https://www.rollins.com/news/2019/04-30-2019-214444561
"Rollins, Inc. (NYSE: ROL), a premier global consumer and commercial service company announced today that it completed the purchase of Clark Pest Control of Stockton, Inc. Clark is a family owned company established by Charlie Clark in 1950 and is headquartered in Lodi, CA. It is the leading pest management company in California and the nation's 8th largest pest management company according to PCT 100 rankings. Additionally included in this acquisition are real estate properties and Geotech Supply. Currently, the company operates in 26 locations and offers both residential and commercial pest control throughout California and northwestern Nevada. Clark's Robert Baker will stay on to run day to day operations in California. With this acquisition, Rollins, Inc.'s total customer count is now approximately 2.4M."

The PTC 100 Rankings if anyone is interested. 
https://giecdn.blob.core.windows.net...ter%202019.pdf

Rollins 2018 Revenue $1,821,565,000 
Clark Pest Control 2018 Revenue $136,390,162 

Fun fact, Atlanta based Arrow Exterminators is also on the list as well. 
Arrow Exterminators 2018 Revenue $225,115,000 

Northwest Exterminators (another Atlanta establisment) used to be in the top 10 I believe, but it was bought by Rollins Inc. What is up with companies in Atlanta cannibalizing each other?

 

 

Edited July 29, 2019 by Ric0_0

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The official Fortune 500 2020 list came out today, and metro ATL and GA had a great representation.
https://www.metroatlantachamber.com/resources/most-popular/fortune-500-fortune-1000-in-metro-atlanta

Here in the ATL, our newcomers were Newell Brands, Gray Television, Rollins Inc, Primerica, and Floor and Decor. For this 2020 list, it still had Norfolk Southern as based in Norfolk, VA, but when their new HQ is done I presume Fortune will recognize their headquarters in ATL.

Here is the link for all the companies in GA:
https://fortune.com/fortune500/2020/search/?hqstate=GA

Mohawk and Aflac were the only F500 companies not based in metro ATL while Synovus and Flowers Foods were the only F1000 not based in metro ATL. Synovus was also a newcomer to the F1000 list.