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having read a number of postings on Fidelity relocating 1000 key employees to RTP and creating 4000 new jobs I am interested on whether anyone knows the criteria that this huge decision was based. Fidelity is a 'class' company and it is a bog boost that they chose this area rather than moving jobs to India like other financial companies.
I am also interested in what areas the 'relocated' employee's are deciding to purchase and the reasons why - with that number of relocations it could have a big impact on prices in those areas
I am also interested in what areas the 'relocated' employee's are deciding to purchase and the reasons why - with that number of relocations it could have a big impact on prices in those areas
From the posts on this forum and what I have seen with others that work in RTP I doubt the relocated employees will all settle in any one area. I imagine they will spread out all over Raleigh, Durham, Cary, Apex, Holly Springs, and maybe a few even in Clayton or Chapel Hill. I don't think 1,000 people relocating to the Triangel area will have any noticable affect on housing prices here.
It's 5000 new jobs to the area spread over the course of the next several years; tax incentives on Fidelity's part, economic boon for Triangle area of NC. In my company, the eBusiness group (which is one of several Fidelity companies opening a new tech center in NC--not relocating the business there), there are a few hundred employees; likewise for a few others--maybe that's where someone's getting the total of 1000. As for where we'll live...just as the Boston location finds people settling in/commuting from all over the state of Massachusetts, the same will be/is true for RTP. It's all about personal preferences and the cost-benefit of living further out/longer commute, etc. In the last thread, someone posted a link to an article detailing Fidelity's commitment to the area. Here's another one:
Research Triangle Park :: RTP In the News (broken link)
Or of course, you can always Google
We're part of the Fidelity relo. In speaking to others who are part of this first wave, we've noted that every family has different requirements that make different areas of the Raleigh metro area attractive. One of my husband's staff members selected a school for his children and then shopped for a house from there. Others desire some land so their kids can play and have moved farther out, such as to Holly Springs. We are coming with the desire that my husband's commute be super minimal. His kids also will not be living with us full-time. We're looking to be very close to Fidelity's new campus and have recereational amenities within walking distance so that when the teenagers visit, it won't be like a prison sentence for them. (We already have an agent. Please don't PM me.)
I don't think any one area is going to be dramatically impacted by the relocation.
BTW, we also learned that another tech company will be relocating large portions of its operations to the Triangle. The reason is that they can't hire people to come work in San Jose. The real estate there is so bloated that potential hires turn them down, stating they can't afford to live in the area. The combination of being able to draw from an educated worker force and affordable real estate I suspect is contributing to making Raleigh a very attractive place for tech companies, or the tech components of companies that do other things, like Fidelity, to estabilsh operations.
Plus the weather is decent, the universities are close, there is a huge pool of qualified employees especially in IT. The housing stock is available and reasonable especially if you are from the NE or CA. Plus the sheer fact that a lot of people want to live in this area. Close to mountains and beach.
We got to try it for 3 years due to a corporate move and found it quite wonderful. There were two reasons for our move back. One was the company wanted my husband at corporate headquarters and I had the most severe allergies in my life.
I believe the allergies were due to some form of chemical in the new NC house. They disappeared almost immediately when we returned and have not come back. Maybe the termite treatment or ??
The Fidelity office out here in Santa Barbara a few years ago transfered their people down to Jacksonville FL. The boss did an interview about a year later on the local news in Santa Barbara and said the employees that went to FL had a much better lifestyle then in Santa Barbara and the cost of living was much lower and many of the employees had purchased homes, where in Santa Barbara many could not afford to buy.
The Fidelity office down the hall from me just merged this office and the one in Oxnard into one office in different building in Oxnard. I wonder if that was due to the slowing market out here. Homes that used to sell in a matter of days now will set with For Sale signs infront of them for months now.
I just wonder if Fidelity if moving their office down there to lower some of their overhead.
thanks for the responses; to me it seems a very positive situation that such a well known institution has made a decision to move quality jobs to the Triangle, particularly when so many similar companies have relocated such jobs offshore to India and other low cost countries. Good perspective by the authorities in helping such inward investment
thanks for the responses; to me it seems a very positive situation that such a well known institution has made a decision to move quality jobs to the Triangle, particularly when so many similar companies have relocated such jobs offshore to India and other low cost countries. Good perspective by the authorities in helping such inward investment
There are plenty going to India. The jobs they are moving here just can't go there.
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(We already have an agent. Please don't PM me.)
