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Old 02-24-2010, 07:16 AM
 
Location: Virginia
18,717 posts, read 26,834,609 times
Reputation: 42860

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I heard DC actually made a very aggressive bid for it, so don't be surprised if they end up in the district.
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Old 02-24-2010, 09:17 AM
 
12 posts, read 13,321 times
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Quote:
Originally Posted by DebbieDowner View Post
Here's the deal. I'm a Maryland native, now living in the midwest. These are the reasons why there is no way in Hell maryland will ever get the NG HQ:

1. It moved from California to escape Marxist business politics...Maryland govt practices same cult thinking: tax the rich, redistribute wealth. 9.5% corp. tax rate in MD/ 5.5% in Va.

2. Md. politicians who still after everything they went through in the 1980s stilll...still...think that the city of Baltimore can compete with DC... It can't even compete with Arlington or Alexandria. The Gen. Leg. in Md. will try to get the HQ in the Baltimore area.

3. No. Va. already has several sites NG can move to. Md. is currently undergoing environmental assessments before the Leg. will know where it could move.

4. No. Va. has an international airport that serves 38 international cities nonstop; Maryland has BWI which serves Southwest Airlines.

5. Md. has a $8 billion deficit; Va.'s deficit is half that and showing signs of decreasing.

6. Md. wants to increase taxes further---a second hike in 10 months.

7. No. Va. is already home to major international aerospace giants. Have you ever been around BWI or PG County? It's like a baren waste land compared to the sprawl of Northern Virginia. Montgomery County gave up competing with N. Va. years ago as the state legislature hobbled it (jealous that it's the state's major economic engine and not Baltimore).

There are more reasons, but once you calculate all that I have already mentioned, why bother to mention more? It's already enough reason to give NG the decision to move to N. Va. It's a no brainer!

I concur. You're right. There is something lackluster about Maryland. The Baltimore-centric hicks in Annapolis suck the life out of the state. If the Md. General Assembly realized 30 years ago that the economy of the state had shifted from the Baltimore port to the Md. suburbs of DC, then maybe the state would be in better financial condition. Unfortunately, the culture of Baltimore worship still rules in Annapolis.
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Old 02-24-2010, 02:37 PM
 
Location: Home is where the heart is
15,400 posts, read 25,780,931 times
Reputation: 18989
Quote:
Originally Posted by MarioSmario View Post
I concur. You're right. There is something lackluster about Maryland. The Baltimore-centric hicks in Annapolis suck the life out of the state. If the Md. General Assembly realized 30 years ago that the economy of the state had shifted from the Baltimore port to the Md. suburbs of DC, then maybe the state would be in better financial condition. Unfortunately, the culture of Baltimore worship still rules in Annapolis.
Awww, Maryland's a nice state. I don't think they're going to get Northrop, but it's because most of NG's offices are already in Nova.
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Old 02-24-2010, 03:04 PM
 
1,196 posts, read 1,862,512 times
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Quote:
Originally Posted by normie View Post
Awww, Maryland's a nice state. I don't think they're going to get Northrop, but it's because most of NG's offices are already in Nova.
My thoughts exactly
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Old 02-24-2010, 03:48 PM
 
1,623 posts, read 4,323,852 times
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Quote:
Originally Posted by DebbieDowner View Post

1. It moved from California to escape Marxist business politics...Maryland govt practices same cult thinking: tax the rich, redistribute wealth. 9.5% corp. tax rate in MD/ 5.5% in Va.
I really doubt California corporate income tax rates is a factor in the move.

Multi-state corporations are taxed based on an apportionment formula. They use a formula to determine how much of their taxable income is attributed to a particular state. In the old days, it was equally split between where sales were made, where employees were located, and the value of the property within a state. The trend in recent years is for states to overweight the sales portion of the formula, which reduces the amounts taxable where a corporation has most of its operations. So just because your company is headquartered or incorporated in a particular state, doesn't mean all of its income is taxed at the state income tax rate.

So moving 300 executives from CA to Nova is not going to affect the apportionment formula by more than a rounding error, so the effect on its state income tax is negligible. Now if they moved a major plant or operations out of CA, that's another story.
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Old 03-03-2010, 07:20 AM
 
Location: Virginia
18,717 posts, read 26,834,609 times
Reputation: 42860
Quote:
Originally Posted by slim04 View Post
I really doubt California corporate income tax rates is a factor in the move.

Multi-state corporations are taxed based on an apportionment formula. They use a formula to determine how much of their taxable income is attributed to a particular state. In the old days, it was equally split between where sales were made, where employees were located, and the value of the property within a state. The trend in recent years is for states to overweight the sales portion of the formula, which reduces the amounts taxable where a corporation has most of its operations. So just because your company is headquartered or incorporated in a particular state, doesn't mean all of its income is taxed at the state income tax rate.

So moving 300 executives from CA to Nova is not going to affect the apportionment formula by more than a rounding error, so the effect on its state income tax is negligible. Now if they moved a major plant or operations out of CA, that's another story.
Interesting. The Wall Street Journal seemed to think this was about escaping California taxes. But I think both your theory and their theory could work together. Maybe NG is gradually shifting the bulk of their operations here. Does this mean new hiring will mostly take place in Nova, and there will be very little hiring in California? Maybe they'll let their current California staff dwindle, without replacing them.

That would mean more good news for Nova, if it means more high level job creation here.
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Old 04-26-2010, 01:27 PM
 
Location: Brambleton, VA
2,136 posts, read 4,635,209 times
Reputation: 1292
Well, the first part of the decision has been made:

Northrop Grumman selects N. Virginia (Washington Business Journal)

So now they have to pick a specific location:

Quote:
Northrop could not immediately be reached for comment but has consistently said it would make a selection by the end of April.

Northrop has been considering an ING Clarion-owned site at Fairview Park in Falls Church as well as the JBG Cos.' building at 800 N. Glebe Road project in Arlington and JM Zell Partners Ltd.’s undeveloped site in Alexandria called Carlyle Plaza One.
Also, regarding the numbers of staff:
Quote:
When announcing its move in January, Northrop said it would mean 100 to 150 new jobs for the Washington area. Northrop will also relocate about one-quarter of its current Los Angeles headquarters staff of 350.
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