The Good News Report

[pgsinger]

^ My thought on US Bank is that its hiring will be slower, and focused around specific needs where those people exist in Charlotte.  I don't foresee them needing to relocate 400 people to Charlotte from Minneapolis for an incentives check.

 

Just my 2 cents...if its financial, I think its Ally, CIT or AIG, all of which could want to relocate large portions of corp jobs here for lower costs/workforce depth. 

 

EDIT:  or Babson/MassMutual, they maybe try to wrangle some incentives to move people here from Springfield as part of their new tower.....these specific incentives could be completely separate from Tryon Place.

 

AIG moved their HQ within Manhattan in Q3 2013, so I think it is safe to say they are out:  http://www.crainsnewyork.com/article/20130802/REAL_ESTATE/130809972/aig-to-move-headquarters-to-water-street

 

ALLY - Anyone remember this thread? http://www.urbanplanet.org/forums/index.php/topic/48280-gmac-might-relocate-hq-to-charlotte/page-9  Yeah, been there down that, but now the time may be better.  They shold now be close to exiting TARP, as one of the last remaining banks in the program.  http://online.wsj.com/articles/SB10001424052702303496804579366563059316666  Which could also be a good sign of this.  I assume everyone recalls all the BOA ties with in the management team at Ally.

 

CIT Group - No real indication of them ever contemplating a move.

 

BMW - Looks like they relocated to a new $65 Million facility in 2008.  I cannot imagine a relocation in 6 years (or 7.5 if we add the time to build Tryon Place).  Also, their employee count is way higher than 400, so I think all signs point to no BMW.  http://hq.construction.com/snapshots/0912_bmw.asp

 

UPDATE: $65 Million is the construction costs.  It does not look like that includes the acquisition of land and existing improvements.

Edited October 28, 2014 by atlrvr

[atlrvr]

I wasn't really speculating CIT or AIG to be full corp HQ relos, just moving some corp jobs here. 

 

BMW, I think I mistakenly mis-read other posts to form that, but that $65mm facility has been depreciated on their balance sheet, could be sold for something > $0, would result is substantial reduction in business costs, and NC would write a massive massive check to help them with their moving costs....again, I think BMW rumor was manufactured by me, but I do think there is a substantial case to be made it would make financial sense for BMW to move Charlotte or Atlanta.

[atlrvr]

http://www.bizjournals.com/charlotte/blog/real_estate/2014/10/city-discusses-incentives-for-400-job-expansion-by.html

 

Continuing on with the information. 400 jobs wow....thats great. It says it's a company that already exists here, so I guess its a company with a presence but maybe looking to relocate their HQ here???

 

"an announcement is expected in a matter of weeks" hopefully sooner rather than later.

 

 

Soo...Synchrony Financial.

 

125 management jobs paying $125k on avg and 275 call center jobs payin $27k on average.  They are being spun off of GE Capital.  Someone wanted a web-based banking company, so congrats!

 

http://www.charlotteobserver.com/2014/10/28/5273457/city-considers-incentives-for.html

 

No indication if this is corporate HQ, or if mgmt jobs are just general corporate positions, but HQ elsewhere....I'm hopeful for HQ.

[CLTProductions]

I wasn't really speculating CIT or AIG to be full corp HQ relos, just moving some corp jobs here. 

 

BMW, I think I mistakenly mis-read other posts to form that, but that $65mm facility has been depreciated on their balance sheet, could be sold for something > $0, would result is substantial reduction in business costs, and NC would write a massive massive check to help them with their moving costs....again, I think BMW rumor was manufactured by me, but I do think there is a substantial case to be made it would make financial sense for BMW to move Charlotte or Atlanta.

What I would give for the BMW logo to be on this......

http://www.experiencetryonplace.com/img/slide-3.jpg

 

Soo...Synchrony Financial.

 

125 management jobs paying $125k on avg and 275 call center jobs payin $27k on average.  They are being spun off of GE Capital.  Someone wanted a web-based banking company, so congrats!

 

http://www.charlotteobserver.com/2014/10/28/5273457/city-considers-incentives-for.html

 

No indication if this is corporate HQ, or if mgmt jobs are just general corporate positions, but HQ elsewhere....I'm hopeful for HQ.

wow, what an immediate turn of events...womp womp

Edited October 28, 2014 by Jayvee

[kermit]

.... and 275 call center jobs payin $27k on average. .....

 

anyone else hear the sound that happens when you pick the wrong curtain on Lets Make a Deal?

[atlrvr]

^ Again, I think Synchrony could have nothing to do with rumored tenants for Tryon Place, and there could be multiple relos/expansions in the works, so I don't consider Synchrony a downer, and could be a major win if in fact its the new corp HQ.  Right now, they are based in Stamford, CT alongside their former parent company.  These consumer finance companies are doing really well right now. 

 

EDIT: My up-arrow was supposed to point to Jayvee.

 

Call-center disappoinint, yes, 125 jobs at 125k average though is going to have noticable affect though, and again, if HQ, could signal substantial future growth, as this company has a steep growth trajectory.

[SouthEndCLT811]

anyone else hear the sound that happens when you pick the wrong curtain on Lets Make a Deal?

 

Not the same but I always laugh at this one.

 

[go_vertical]

That is a little deflating.

[tozmervo]

At least my mattress payments are going to a good cause.

[michaelef]

The worst part is that they are expanding in Ballantine .  was this really the big company the biz journal was talking about? I thought it was supposed to be 400 jobs?

[rancenc]

I agree with you "Michaelef".....according to an article in the Charlotte Business Journal in the "news section" today, they "we are suppose to know the name of the company in a few weeks".  I wonder if the city and county were voting on two different inventive packages for two different companies!

Edited October 29, 2014 by rancenc

[HopHead]

Not a new jobs announcement, but the Charlotte metro unemployment rate has dipped to 6.2% which is the lowest since May 2008. The area has added over 22,000 jobs this year, the largest gain in the state. 

 

http://www.charlotteobserver.com/2014/10/29/5275993/charlottes-jobless-rate-lowest.html

 

EDIT: It's actually 6.2% and not 6.8%

Edited October 30, 2014 by wend28

[Deleted.]

Not a new jobs announcement, but the Charlotte metro unemployment rate has dipped to 6.2% which is the lowest since May 2008. The area has added over 22,000 jobs this year, the largest gain in the state. 

 

http://www.charlotteobserver.com/2014/10/29/5275993/charlottes-jobless-rate-lowest.html

 

EDIT: It's actually 6.2% and not 6.8%

22,000 jobs added in Charlotte metro this year?!!! Now that is quote impressive!

[ChessieCat]

Not sure if this has been posted anywhere else, but the Levine's are donating $13 Million to UNCC's Scholars Program:

http://www.charlotteobserver.com/2014/10/29/5275517/levines-gift-extends-expands-unccs.html#.VFJVu_nF_QI

 

This is Uncle Leon, not nephew Daniel, so maybe the First Ward criticism can be muted.  

 

Personally, I would have loved to see that $$ go toward the opening of a Medical School but hey, it's not like I have anything remotely close to that kind of money to throw around... LOL

Edited October 30, 2014 by ChessieCat

[cltbwimob]

Not sure if this has been posted anywhere else, but the Levine's are donating $13 Million to UNCC's Scholars Program:

http://www.charlotteobserver.com/2014/10/29/5275517/levines-gift-extends-expands-unccs.html#.VFJVu_nF_QI

 

This is Uncle Leon, not nephew Daniel, so maybe the First Ward criticism can be muted.  

 

Personally, I would have loved to see that $$ go toward the opening of a Medical School but hey, it's not like I have anything remotely close to that kind of money to throw around... LOL

Actually, IIRC, the Levines donated approximately half the $60 million startup cost for Campbell's School of Medicine.

Too bad we really have no visionary leadership in Charlotte in the higher education arena. If we did, perhaps it would be our schools getting the big checks for things such as med schools, pharmacy schools, etc...le sigh.

[atlrvr]

So...there is another set of meetings this week for City/County in closed session.  The county meeting on Tuesday specifically indentifies the agenda item as relating to economic incentives for a expanding or relocating business.

 

The City meeting on Monday just refers to a closed session (closed sessions can be Econ Dev, legal issues, HR matters, or land price negotations).  Usually there are no closes sessions on the 1st meeting of the month, and they reserve it to the 2nd and 4th Mondays. 

 

The timing is interesting, and possibly implies a bigger deal (which usually are more time sensative).  I doubt it would be further discussions on Synchrony, unless they came back demanding a bigger package.

 

Hopefully we learn something later this week.

[cltbwimob]

So...there is another set of meetings this week for City/County in closed session.  The county meeting on Tuesday specifically indentifies the agenda item as relating to economic incentives for a expanding or relocating business.

 

The City meeting on Monday just refers to a closed session (closed sessions can be Econ Dev, legal issues, HR matters, or land price negotations).  Usually there are no closes sessions on the 1st meeting of the month, and they reserve it to the 2nd and 4th Mondays. 

 

The timing is interesting, and possibly implies a bigger deal (which usually are more time sensative).  I doubt it would be further discussions on Synchrony, unless they came back demanding a bigger package.

 

Hopefully we learn something later this week.

Dear God, I hope Synchrony did not come back asking for more unless they are planning on setting up an HQ in Charlotte.  If they ask for more incentives for their current "offerings", I hope city leaders tell them to shove it. The fact that we would provide economic incentives for predominantly call center jobs that pay about half the area's median income is baffling.

Edited November 2, 2014 by cltbwimob

[Deleted.]

Dear God, I hope Synchrony did not come back asking for more unless they are planning on setting up an HQ in Charlotte.  If they ask for more incentives for their current "offerings", I hope city leaders tell them to shove it. The fact that we would provide economic incentives for predominantly call center jobs that pay about half the area's median income is baffling.

Totally agree with you! It is so stupid paying economic incentives for a call centre, normally I welcome any addition of jobs in Charlotte but a CALL CENTRE!!!! I rather have city leaders use Synchrony incentives to get BWM into Uptown!

[Niner National]

Totally agree with you! It is so stupid paying economic incentives for a call centre, normally I welcome any addition of jobs in Charlotte but a CALL CENTRE!!!! I rather have city leaders use Synchrony incentives to get BWM into Uptown!

To be fair, they are bringing 125 jobs with high salaries. It's not COMPLETELY call center jobs.

 

Disappointing nonetheless, but it could have been worse.

[atlrvr]

http://www.nctechnews.com/2014/10/tresata-to-expand-charlotte-headquarters.html

 

Tresata, a "Big Data", firm here expanded and relocated to Packard Place (I think they were previously in South End).  They plan to hire 25 people over the next year.  Good to see successful, growing, tech start-ups.

[HopHead]

Not a jobs announcement, but this provides some insight on Wells Fargo's continued growth in Charlotte. This is in part credited to the number of high level execs that are moving to (or getting jobs in) Charlotte. Chief Credit Officer, Derek Flowers the latest. 

 

 

 

He's the latest among a number of high-profile execs to take up residence in Charlotte while leading companywide business for the bank.

 

Also throw in the usual lower cost of living and doing business here versus San Francisco and Minneapolis. Current WF base is over 22,100 employees locally. May see even more growth..

 

http://www.bizjournals.com/charlotte/blog/bank_notes/2014/11/wells-fargo-credit-chief-i-dream-of-more-jobs-in.html?page=all

[CLTProductions]

Could it be possible that the city is talking with WF for them to officially move their HQ here? They have more people working here than any other city no? And the office space is here for them, that would be so awesome, it's annoying to have to say East Coast operations HQ.

[Niner National]

Could it be possible that the city is talking with WF for them to officially move their HQ here? They have more people working here than any other city no? And the office space is here for them, that would be so awesome, it's annoying to have to say East Coast operations HQ.

I doubt we ever see WF move their HQ here officially, even if execs keep relocating here.

 

WF has a long history in SF and I think they'd keep the official HQ in SF even if the bank is ever mostly run out of Charlotte, just like we are pretty much the HQ in name only for BoA these days.

Edited November 4, 2014 by Niner National

[cltbwimob]

Does anyone have any idea what TIAA CREF is up to?  Looks like they are going on a real estate binge in Charlotte. 

 

http://www.bizjournals.com/charlotte/blog/real_estate/2014/11/tiaa-cref-in-talks-to-lease-betsill-building-at.html

[pgsinger]

Apparently they need some space to put the people for their new HQ in Charlotte until their space in Crescent's new "One TIAA Center" is complete...  Just kidding...and throwing fodder on the rumor fire.