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Old 10-21-2018, 12:22 PM
 
Location: City of Atlanta
2,747 posts, read 1,698,073 times
Reputation: 3825

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Let's speculate on their new headquarters building. I wonder if they intend to go for a build-to-suit HQ like NCR or if they'll snatch up one of the current proposed towers near Tech Square.
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Old 10-21-2018, 12:23 PM
 
3,199 posts, read 1,095,115 times
Reputation: 2226
Quote:
Originally Posted by Pemgin View Post
Let's speculate on their new headquarters building. I wonder if they intend to go for a build-to-suit HQ like NCR or if they'll snatch up one of the current proposed towers near Tech Square.
All indications suggest they're planning a build-to-suit HQ.
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Old 10-21-2018, 12:28 PM
 
Location: St Simons Island, GA
22,789 posts, read 34,826,617 times
Reputation: 14910
Quote:
Originally Posted by citidata18 View Post
All indications suggest they're planning a build-to-suit HQ.
Per the article I posted in #32:

"There would be construction of a new headquarters building, according to Squires, as opposed to leasing existing office space in Atlanta. That would mean that most employees choosing to relocate would not need to go until 2021, but that there could be some employees who make the shift to Atlanta next year, according to the report of Squires' video."
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Old 10-21-2018, 12:30 PM
 
3,199 posts, read 1,095,115 times
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Quote:
Originally Posted by Iconographer View Post
Per the article I posted in #32:

"There would be construction of a new headquarters building, according to Squires, as opposed to leasing existing office space in Atlanta. That would mean that most employees choosing to relocate would not need to go until 2021, but that there could be some employees who make the shift to Atlanta next year, according to the report of Squires' video."
I think it also states that they're using the proceeds from The Gulch sale to pay for it.
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Old 11-08-2018, 07:58 AM
 
Location: Kirkwood
23,245 posts, read 17,442,819 times
Reputation: 5370
Norfolk Southern is looking for $600M in bonds from Invest Atlanta.
Quote:
With the promise of its Gulch land being sold, Virginia-based railway giant Norfolk Southern is looking for a little incentive from Atlanta's economic development arm to build its own 750K SF headquarters. Norfolk Southern is seeking approval for $600M in lease purchase bonds to develop a $575M headquarters at the former Atlanta Roman Catholic Archdiocese site in Midtown Atlanta. Invest Atlanta's board will vote on the measure Thursday. The site known as Ponce & 3rd is where Cousins Properties has reportedly tied up a portion of the site to make way for Norfolk Southern's headquarters. Chicago-based CA Ventures has purchased the other portion of the property for a 27-story student housing tower.
https://www.bisnow.com/atlanta/news/...medium=Browser
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Old 11-08-2018, 08:25 AM
 
Location: North Atlanta
5,408 posts, read 3,806,418 times
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Quote:
Originally Posted by cqholt View Post
Norfolk Southern is looking for $600M in bonds from Invest Atlanta.

https://www.bisnow.com/atlanta/news/...medium=Browser
And our officials will continue to take it up the you-know-what.
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Old 11-08-2018, 08:28 AM
 
3,199 posts, read 1,095,115 times
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Quote:
Originally Posted by cqholt View Post
Norfolk Southern is looking for $600M in bonds from Invest Atlanta.

https://www.bisnow.com/atlanta/news/...medium=Browser
LMAO!!!

Gotta love it.
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Old 12-06-2018, 08:09 AM
 
Location: Kirkwood
23,245 posts, read 17,442,819 times
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So not only did we give them a deal on their parcels in The Gulch, we are also giving a deal for their HQ.
Quote:
Invest Atlantaís board unanimously approved a deal that would give Norfolk Southern Corp. (NYSE: NSC) a property tax break worth nearly $24 million over 10 years, if the Norfolk, Va.-based railroad moves its headquarters to Midtown.

The idea is that the railroad would build a 750,000-square foot office building on West Peachtree Street between Ponce De Leon Avenue and 3rd Street. Thatís on the block just west of the Fox Theater and AT&T. It would be an investment of about $575 million.

A Norfolk Southern relocation would be worth about 850 new jobs to Atlanta, where the company already employs 2,025 people.

The building would still be liable for more than $62 million in taxes over 10 years, of which about $31 million would go to city schools.
https://www.bizjournals.com/atlanta/...q-atlanta.html
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Old 12-06-2018, 08:56 AM
 
Location: Georgia
2,543 posts, read 6,229,979 times
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This is a very disturbing trend - we saw it with Amazon HQ2 and I'm sure other corporate relocation's get some kickbacks, but why do these rich companies need concessions ? They pay close to zero income tax - yes they do generate employment which is the biggest draw, but the states are already setting themselves back before they can see any revenue from the new acquisition.

If no one provides any incentives (utopia - I know) I'm pretty sure eventually the companies will still move - maybe delay it a bit more, but then it will be for the right reasons. It seems like now its a matter of who can bend their back the most - bad for the residents in the long term.

It looks like on every deal - the ROI is amazing over the long term for the location that grabs the company.
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Old 12-06-2018, 09:28 AM
 
3,199 posts, read 1,095,115 times
Reputation: 2226
Quote:
Originally Posted by cqholt View Post
So not only did we give them a deal on their parcels in The Gulch, we are also giving a deal for their HQ.

https://www.bizjournals.com/atlanta/...q-atlanta.html
All this for a mere 800 more jobs, probably when they would have eventually moved to Atlanta any way give the vast majority of their corporate jobs are already here.
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