Philadelphia 2035 (York, Madison: lease, hotels, house)

[Duderino]

Originally Posted by BPP1999

Yes, this is non-sexy type stuff, and might even anger some liberals, but big nonetheless. Should help significantly to make PA a much more attractive place for large corporations to set up shop.

For sure. I think even most Democrats/liberals can admit that it's an improvement for the better, being that PA has had the 2nd highest (behind NJ) CNI tax in the US. Obviously, that does have an impact on competitiveness to some degree.

In particular, I think this could be a big boon for the Philadelphia and Pittsburgh areas on a national scale as companies are looking everywhere for talent and both cities have (in more recent history) been overlooked by corporate America, especially Philadelphia.

[MarketStEl]

Originally Posted by BPP1999

Yes, this is non-sexy type stuff, and might even anger some liberals, but big nonetheless. Should help significantly to make PA a much more attractive place for large corporations to set up shop.

That shouldn't be our job creation strategy. We should be growing our own jobs by enabling small businesses to establish themselves and grow bigger.

It was cool to see Philly put together such a strong presentation for Amazon HQ2 (though any student of what really drives business relocation decisions could have predicted Amazon's choice of the New York and Washington areas for their new HQ, for Jeff Bezos already has homes in both), but along with the runup, a lot of people here Tweeted about the competition with the hashtag #GrowTenAmazons.

And growing ten Amazons is precisely what we should be doing. Small businesses account for the great majority of new jobs created in the US each year. Rather than land an Amazon, we should be encouraging the next GoPuff, and the one after that, and the one after that...

But the beauty of this announcement is that cutting business taxes happens to be the same simple step we can take towards doing that, too.

[BPP1999]

Originally Posted by MarketStEl

That shouldn't be our job creation strategy. We should be growing our own jobs by enabling small businesses to establish themselves and grow bigger.

It was cool to see Philly put together such a strong presentation for Amazon HQ2 (though any student of what really drives business relocation decisions could have predicted Amazon's choice of the New York and Washington areas for their new HQ, for Jeff Bezos already has homes in both), but along with the runup, a lot of people here Tweeted about the competition with the hashtag #GrowTenAmazons.

And growing ten Amazons is precisely what we should be doing. Small businesses account for the great majority of new jobs created in the US each year. Rather than land an Amazon, we should be encouraging the next GoPuff, and the one after that, and the one after that...

But the beauty of this announcement is that cutting business taxes happens to be the same simple step we can take towards doing that, too.

I don’t think anyone said it is. My point is that it will be nice to perhaps be included on more short lists of companies looking to expand. And the simple act of eventually having a lower corporate tax rate than many of our neighbors is great, too. This state is often cheaper vs competing states in terms of state income taxes and real estate prices, but our business tax rate is not competitive, at all.

[cpomp]

Originally Posted by BPP1999

I don’t think anyone said it is. My point is that it will be nice to perhaps be included on more short lists of companies looking to expand. And the simple act of eventually having a lower corporate tax rate than many of our neighbors is great, too. This state is often cheaper vs competing states in terms of state income taxes and real estate prices, but our business tax rate is not competitive, at all.

And Philadelphia/Pennsylvania can entice corporate relocations/expansions AND cater to a growing startup/research scene. Both are vital for economic health and it appears leaders are taking small steps toward that goal, aided by a big push from local business communities and leaders.

[cpomp]

Cool project, the beautiful Pomerantz building.

And Montreal based CDI Furniture will be the retail tenant on floors 1 & 2. Good to see a solid retail tenant join Chestnut Street.

An Addition and a Sonder Coming to Historic Rittenhouse Building

https://www.ocfrealty.com/naked-phil...house-building

[thedirtypirate]

Originally Posted by cpomp

Cool project, the beautiful Pomerantz building.

And Montreal based CDI Furniture will be the retail tenant on floors 1 & 2. Good to see a solid retail tenant join Chestnut Street.

An Addition and a Sonder Coming to Historic Rittenhouse Building

https://www.ocfrealty.com/naked-phil...house-building

I almost always despise setbacks but this is one time where it actually makes sense and is used correctly imo.

[MarketStEl]

Originally Posted by cpomp

Cool project, the beautiful Pomerantz building.

And Montreal based CDI Furniture will be the retail tenant on floors 1 & 2. Good to see a solid retail tenant join Chestnut Street.

An Addition and a Sonder Coming to Historic Rittenhouse Building

https://www.ocfrealty.com/naked-phil...house-building

Minor nit: The OCF Blog post characterizes A. Pomerantz & Co. as a furniture store.

That's not 100 percent accurate. Yes, it sold furniture, but in the way that an office supply store sells furniture — IOW, it sold office furniture and supplies. A. Pomerantz & Co. was the city's leading office supply store before big-box chains like Staples and Office Depot did it in.

[cpomp]

Good economic news.

Capital One opening Philadelphia innovation center with plans to hire 100 tech workers

https://www.bizjournals.com/philadel...Pos=0#cxrecs_s

One of the nation’s largest banks is opening an innovation center in Center City that will house 100 new technology jobs.
Capital One said it has leased space at 1735 Market St., where it plans to hire software engineers, product managers and technical roles to work on “challenging technology problems.”

Jay Michelini, head of technology strategy and business operations at Capital One, said because the company has two of its café locations in Rittenhouse Square and King of Prussia, it is familiar with the Philadelphia region and its talent pool. He said Capital One wants to deepen its ties here by hiring talent where they live to make retail banking products.

Michelini said Capital One also wants to become more closely connected with local colleges and universities, particularly those near Center City. It already has existing relationships with the University of Pennsylvania and Penn State University, but it is looking to foster new ones with other local schools to access what it termed a “rich pool of talent.”

Capital One has signed a lease to take the entire 37th floor at 1735 Market — about 22,000 square feet — and expects the site to be built out sometime in second quarter 2023. Michelini said it will be part of the company’s vision for its hybrid work strategy. There are no preset days where employees must be in the office but when they do, he said the focus will be on collaboration and innovation. Michelini said 1735 Market was selected due to its proximity to Capital One’s Rittenhouse café as well as Suburban Station.

[thedirtypirate]

The big unveil of the proposed arena happened this morning. Thoughts? I love it.

[Tweb66]

Oh I like it. I was worried because their last proposal including taxpayer dollars, this doesn't. I also like that is means tearing down part of the old Gallery whose renovation, I think we now know was a huge mistake. I am wondering though, the Sixers won't move until 2031, do they build it before hand to host concerts?


EDIT: I see they won't start construction for another 4 years and scheduled to open 2031. Why on earth would this take 9 years?