EverBank Coming Downtown, Now What?
(http://photos.metrojacksonville.com/photos/1075141989_SkRB9-M.jpg)
Downtown's revitalization efforts received a major boost last week with EverBank Financial Corporation's official announcement to lease 270,000 square feet of office space in the AT&T Tower 301, which will be renamed EverBank Center. While a conversation on what's needed next to keep the momentum going will bring up several worthy projects across the urban core, here is one opportunity directly related to the EverBank move not to be overlooked.
Full Article
http://www.metrojacksonville.com/article/2011-dec-everbank-coming-downtown-now-what
This really is the simplest downtown revitalization method. Just make sure every thing is exposed and accessible. There are at least four malls in downtown but no one knows.
the ideal plan would be to open some of the spaces up to the street....but if that's too big a project just yet, then at least put up a few monument signs telling passersby what's inside....heck, even a few a-frame signs on the sidewalks would be an improvement....I saw all 3 methods emoployed quite well in Uptown (downtown) Charlotte.
Hopefully DVI will get on this, but I doubt it. I will say the new owners at least lit up the outside of the building somewhat.
Somewhere in the mass of these threads, a question or two about the parking situation for the Everbank people has been asked. I just hit me last night (after a glass of bourbon or three): What are the chances that Everbank steps up and uses the Skyway? More importantly, why hasn't JTA stepped up to the plate and made a Don Corleone offer to Everbank for using the Skyway? You have premium, covered parking at the San Marco Station for all of the southside employees heading downtown. There is the Convention Center lot for all of the Northside / Westside workers. And most importantly, there is a Skyway station directly across Bay St. from the building and there's the other station at Hemming Plaza which is centralized (somewhat) around quite a few good places to eat. No Brainer!
I believe EverBank will be using a garage a block away from the building.
they will be using multiple garages...including the city owned one on Water Street.
Everbank has agreements with three differnet garages. The Water St garage, the new one constructed for the courthouse, and I think that ugly one on the corner of Forsyth and Broad. How do we know JTA didnt have discussions with Everbak about using the park and ride lots for the Skyway? From what I hear the agency did.
Just having 1,500 additional people working in that building will be a benefit to the skyway. I've always been a proponent of JTA leasing kiosk space in some of it's skyway stations for things like newspaper/magazine stands, coffee bars, food vendors, etc. EverBank in that location helps make Central Station a more viable location for such an idea. Also, if the mall in EverBank Center is improved with more retailers and restaurants and better exposed, the skyway will attract additional ridership from areas like the Southbank, as those office users utilize it to access those retailers.
Isn't that garage, Metropolitan Parking Solutions, at 116 Pearl, one of those guaranteed to be supported by COJ? Most likely, giving the city's penchant for giving, parking there would b part of the incentive to move downtown. The garage at 520 Forsyth is already owned and used by the tenants of El Ad so that's also a given.
Why would any of the new crowd of employees, wedded as most are to easy access to their cars, walk across the street, wait for a skyway car and travel to an outlying parking site? It's not likely that any parking will be free as before so the close by access will be the parking solution of choice.
Quote from: fsujax on December 28, 2011, 09:38:42 AM
Everbank has agreements with three differnet garages. The Water St garage, the new one constructed for the courthouse, and I think that ugly one on the corner of Forsyth and Broad. How do we know JTA didnt have discussions with Everbak about using the park and ride lots for the Skyway? From what I hear the agency did.
I don't know, just posing a question.
If they wen't the parking garage direction, who ever led the JTA sales team should stick with driving busses. It should have been offered pennies on the dollar for what the garages were proposing.
I have no clue how these contracts work, but assuming the commercial rate is about $50/month in a garage, I guess the wholesale rate is about 1/2 that, and if I were JTA it would have been a 4 year deal with a buyout: free for the first year with a $10ish/mnth/emplyee increase over the next 3 years. A guaranteed spot and an unlimited Skyway pass. It's public transportation - it's about asses in seats.
Quote from: Ralph W on December 28, 2011, 09:49:22 AM
Isn't that garage, Metropolitan Parking Solutions, at 116 Pearl, one of those guaranteed to be supported by COJ? Most likely, giving the city's penchant for giving, parking there would b part of the incentive to move downtown. The garage at 520 Forsyth is already owned and used by the tenants of El Ad so that's also a given.
Why would any of the new crowd of employees, wedded as most are to easy access to their cars, walk across the street, wait for a skyway car and travel to an outlying parking site? It's not likely that any parking will be free as before so the close by access will be the parking solution of choice.
Sure, they may have space now, but the courthouse is about to open around the corner and the 7-9 & 4-6 traffic from downtown already isn't pleasant, but now you're adding another 1k-3k cars on the road at those times.
i agree with you on that non-redneck westsider! JTA should have deeply undercut and made it a deal they couldn't refuse! haha
Quote from: Non-RedNeck Westsider on December 28, 2011, 09:49:51 AM
I have no clue how these contracts work, but assuming the commercial rate is about $50/month in a garage
I don't know how the deals work but everyone in my office pays $90.95/month to park in the garage at Forsyth & Julia Streets.
Quote from: thelakelander on December 28, 2011, 10:00:40 AM
I don't know how the deals work but everyone in my office pays $90.95/month to park in the garage at Forsyth & Julia Streets.
So in the first year, there's a savings of $2.1M based on 2k employees. The skyway sees 2000 riders per day (1/2 the employees using the service to and from) - Is it us, or is this just a no-brainer?
you know, i read some where when this deal was announced, that the employees would be getting free parking. Everbank must be covering their employees parking. I really do not understand that thinking.
^If such a deal was offered, as a downtown office worker I'd take advantage of it if my company didn't cover my parking costs.
I am sure many would Lake.
Quote from: thelakelander on December 28, 2011, 10:00:40 AM
Quote from: Non-RedNeck Westsider on December 28, 2011, 09:49:51 AM
I have no clue how these contracts work, but assuming the commercial rate is about $50/month in a garage
I don't know how the deals work but everyone in my office pays $90.95/month to park in the garage at Forsyth & Julia Streets.
Does your company offset those costs at all? I know some do.
My company covers the costs 100%.
The parking will be provided by EverBank for free because the relocated employees have free parking at their current locations in office parks. It would be like a pay cut to make employees start paying for parking. It makes sense for the present where employees are being surprised with the move.
The best way for everyone to handle this in the future would be if EverBank added a "parking subsidy" to their employees paychecks and then let them find their own parking. Then EverBank would be released from having long-term contracts with garages and employees could ride their bikes or buses to work and pocket the subsidies. But there might better security if these are designated as EverBank-only garages.
Quote from: fsujax on December 28, 2011, 10:05:38 AM
you know, i read some where when this deal was announced, that the employees would be getting free parking. Everbank must be covering their employees parking. I really do not understand that thinking.
When my company was looking to move to the downtown area, throwing parking into the lease deal was a must.
But here's a better idea....give all employees say $100 a month extra in their paychecks...then let them choose to spend it on parking, transit, or pocket the money and bike/walk to work.
Companies in most big cities do this....and I even know of a few in downtown Jax!
Some good reads:
http://en.wikipedia.org/wiki/Employer_transportation_benefits_in_the_United_St (http://en.wikipedia.org/wiki/Employer_transportation_benefits_in_the_United_St)ates
http://www.bestworkplaces.org/pdf/taxbenes_07.pdf (http://www.bestworkplaces.org/pdf/taxbenes_07.pdf)
http://www.irs.gov/publications/p15b/ar02.html#en_US_publink1000193740 (http://www.irs.gov/publications/p15b/ar02.html#en_US_publink1000193740)
http://www.wmata.com/business/employer_fare_program/tax_advantages.cfm (http://www.wmata.com/business/employer_fare_program/tax_advantages.cfm)
4 malls in downtown? Do that have stores in them?
Quote from: Gravity on December 28, 2011, 03:03:25 PM
4 malls in downtown? Do that have stores in them?
They are in the BOA building(Gift shop, news store, Urban Grind and Bank ground floor restaurant closed but they do have the skyline cafe) Omni (a shop or two plus Juliette's) Everbank( stores shown in article and a large restaurant space with lots and lots of tables that can be reopened) and Wells Fargo (the best one, shops, restaurant, Barber, jeweler, Bank and occasionally a lobby bazaar) I guess you could count the are on the south side of hemming (jewelers, banks, Kinkos, Scotty's, restaurants, shoes, and more).
The malls in the builds particularly Wells Fargo are set up like Malls and have lots of space to rent if they can get the people in the doors.
I forgot the Landing. How bad is that? ;D
Now What? I do not think the adminstration or council will puruse something as obtuse as better visibility. It is too subjective and the benefits of the time needed to promote it are not clear enough. The next step should be to strategize a plan for downtown revitalization instead of a mismash of whatever sticks. Dvi and Coj may already have a plan and if so the next step would be to follow through. I suspect the adminsitration or council will pursue things like the Laura street trio or drawing another large company into downtown which are both fine projects but large stand alone successes will not revitalize downtown. A plan needs to be followed. My suggestions would be formulate some sort of financial incentives for both large and small businesses, widen the alcohol exception area, and put together a top 10 list of goals with target dates and money needed. The approach needs to be systematic and I dont see anything at this time to make me think it will be. JEDC or its new equivilant will be needed push this.
Probably worth pointing out there are other smart, exciting developments happening downtown. This thread motivated me to post about the 220 Riverside project (with which I am peripherally involved). The project is in Brooklyn (described elsewhere on this site as Downtown's last frontierâ€) and the vision is for an integrated development with housing, retail, and an entertainment venue, set in an urban park. 220 Riverside will bring much needed new amenities to Brooklyn and will increase downtown residency by 15 percent. I hope it spurs further downtown revitalization and breathes life into the corridor connecting downtown with Riverside//Avondale. The TU wrote an informative editorial about it:
http://jacksonville.com/opinion/editorials/2012-04-08/story/park-development-urban-dream (http://jacksonville.com/opinion/editorials/2012-04-08/story/park-development-urban-dream)
metrojax piece on it:
http://www.metrojacksonville.com/article/2012-jan-220-riverside-coming-to-brooklyn (http://www.metrojacksonville.com/article/2012-jan-220-riverside-coming-to-brooklyn)
Quote from: simonsays on May 25, 2012, 03:11:18 PM
Probably worth pointing out there are other smart, exciting developments happening downtown. This thread motivated me to post about the 220 Riverside project (with which I am peripherally involved). The project is in Brooklyn (described elsewhere on this site as Downtown's last frontierâ€) and the vision is for an integrated development with housing, retail, and an entertainment venue, set in an urban park. 220 Riverside will bring much needed new amenities to Brooklyn and will increase downtown residency by 15 percent. I hope it spurs further downtown revitalization and breathes life into the corridor connecting downtown with Riverside//Avondale. The TU wrote an informative editorial about it:
http://jacksonville.com/opinion/editorials/2012-04-08/story/park-development-urban-dream (http://jacksonville.com/opinion/editorials/2012-04-08/story/park-development-urban-dream)
metrojax piece on it:
http://www.metrojacksonville.com/article/2012-jan-220-riverside-coming-to-brooklyn (http://www.metrojacksonville.com/article/2012-jan-220-riverside-coming-to-brooklyn)
Simon makes a great point. In my line of work, we are seeing unmistakable evidence of a move back to the core in most cities. There is evident demand for people wanting to live in a mid-town type area. Brooklyn fits that 'mid-town' definition. I truly believe there is a large pent-up demand for this type of living in Jacksonville(look at the demand in low-rise residential near Five Points which is a more transitional area/in town neighborhood), the problem is that housing option just isn't available in Jacksonville.
I think this project in particular (as it's a true form of integrated urban living, unlike the product being developed next door IE Pope and Land) will show that the demand is there for others to follow. You see outside developers building similar types of faux-urban living at the Town Center b/c they feel it's more low risk being that it's across from the mall. But with 220's success, I believe interest will pick up in the Brooklyn and East San Marco areas(both areas RIPE for TOD).
Now, once a streetcar is put in place in that area, you'll send TREMENDOUS growth.
I would not disagree. For interest, here is the latest rendering for 220 Riverside:
(http://sphotos.xx.fbcdn.net/hphotos-prn1/536475_416354558384046_1309062680_n.jpg)
Nice!
Looks really nice!
Looks really good. I appreciate the enthusiasm regarding the color of the water in the retention pond.
Quote from: Tacachale on May 29, 2012, 01:18:10 PM
Looks really good. I appreciate the enthusiasm regarding the color of the water in the retention pond.
LOL. Green-algae slime floating on the surface just doesn't sell as well I suppose.
Simon,
When will this start breaking ground?
haha. Yeah, if left up to the city to maintain, the pond would be covered with green slim, because the fountain would quit working and the city would say we cant find anyone to fix it or it's too expensive to maintain. Since the retail component of this project faces the pond and not Riverside Ave, if the pond fails, I guess the retail will as well.
^Jokes aside, I'm sure it will be fine. It's a retention pond and it's in Florida, so the water is always going to be brown even if the fountains keep the algae down, but that shouldn't stop it from being a nice water feature.
In fact, the design is immediately superior to most other developments, where they build several retention ponds for each segment, instead of one huge one to serve the whole area. It's a good idea.
The design gets better and better every time they produce a new and improved rendering! I just had a conversation over the weekend about how this is a prime location for residential. Two people said they are interested in moving in and wish it was already built.
Is there a signage plan for the retail component? Obviously nothing trashy, but I'm concerned that because the retail doesn't front Riverside Avenue, people won't know it exists. Perhaps something low similar to the signs at Tapestry Park along Southside would work? I wouldn't want low visibility to keep any retail components from succeeding.
Great render. Makes me even consider moving out of downtown for it... Well depending on what the prices will be.
Quote from: Tacachale on May 29, 2012, 04:34:15 PM
^Jokes aside, I'm sure it will be fine. It's a retention pond and it's in Florida, so the water is always going to be brown even if the fountains keep the algae down, but that shouldn't stop it from being a nice water feature.
Doesn't have to be black water because it's in Florida. Our black water streams are usually deep, slow-moving channels that flow through forested swamps and wetlands. As vegetation decays in the water, tannins are leached out, resulting in transparent, acidic water that is darkly stained, resembling tea or coffee.
Florida actually has a number of beautiful crystal clear streams, Juniper Springs Run, Alexander Springs Run, Salt Springs Run, Ichetucknee River, Alligator Creek and several nice segments of the Santa Fe River. Many of the surviving lakes in the Keystone Lake region are as clear as bottled water.
I realize you probably already know this, but there are likely some among us that haven't a clue.
FYI, the black water in most creeks, rivers, etc. is actually drinkable as is.
Do I recommend it, hell no, it will give you the runs like crazy and it still carries parasites, but due to the high acidity most of the harmful bacteria don't thrive very well in it so you'll live, but you might wish you were dead.
You know, next time your lost in the swamp, no rain's in sight and the battery to your iphone is dead where you can't check on your Bear Grylls survival app.
Dapperdan I understand that breaking ground is scheduled for fall this year.
Is this 'announcement' about Everbank?
QuoteBusiness Addition to Downtown
September 20, 2012
1:30 p.m.
Mayor’s Office, Fourth Floor
City Hall - St. James
117 West Duval Street
Jacksonville, Florida 32202
Mayor Alvin Brown and Council President Bill Bishop will celebrate on Thursday a financial company’s move and commitment to Downtown Jacksonville, with plans to expand its investment into the city’s core.
Quote from: comncense on September 20, 2012, 10:45:56 AM
Is this 'announcement' about Everbank?
QuoteBusiness Addition to Downtown
September 20, 2012
1:30 p.m.
Mayor’s Office, Fourth Floor
City Hall - St. James
117 West Duval Street
Jacksonville, Florida 32202
Mayor Alvin Brown and Council President Bill Bishop will celebrate on Thursday a financial company’s move and commitment to Downtown Jacksonville, with plans to expand its investment into the city’s core.
Whats the source?
Tony Allegretti was talking about an exciting announcement for downtown at 1:30 today.
The source is the Mayor's office.
I was asking the source from which they copy and pasted the information. I wanted to look at it.
Quote from: duvaldude08 on September 20, 2012, 11:30:15 AM
I was asking the source from which they copy and pasted the information. I wanted to look at it.
Oh I closed it out but it was from the COJ site for the Mayor. I saw it tweeted this morning.
What's interesting is IF it's not Everbank, what other financial institution would you guess it to be?
^There's no one else it could be besides Everbank.
Quote from: Tacachale on September 20, 2012, 12:47:48 PM
^There's no one else it could be besides Everbank.
Why do you think that? It could be Wells, it could be BoA, it could be anybody. I feel like we have already heard all the Everbank announcements that we are going to get. Also, wouldn't they have used Everbank's name since that is a well known thing? I'm hoping it is somebody else.
Welll......?
Quote from: Captain Zissou on September 20, 2012, 01:45:41 PM
Welll......?
Looks like it's Mass Mutual per Tony Allegretti's facebook. I don't have any details yet though.
QuoteMASS MUTUAL BRANCH RELOCATING, EXPANDING IN DOWNTOWN
Financial Design Associates plans to hire 25 in next two years
JACKSONVILLE, Fla. Sept. 20, 2012 â€" Financial Design Associates, a local branch of the 161-year-old Fortune 500 company Mass Mutual, has moved operations from the Southside to the BB&T Tower in Downtown Jacksonville.
Mayor Alvin Brown joined Jacksonville City Council President Bill Bishop, Councilman Don Redman, Downtown stakeholders and representatives of the Jacksonville Regional Chamber of Commerce to welcome Managing Partner Roger Dominey and dozens of his staff members.
Financial Design Associates started as a Mass Mutual branch in 1999 with five staff members and has since grown to 50, covering a service area that straddles Northeast Florida and Southeast Georgia. With the move to Downtown, the firm has announced plans to hire 25 new employees in the next two years and double the size of business within the next five.
“This move will help to create good-paying jobs at a time Jacksonville needs them most. It shows that corporations and business leaders see the vision in our Downtown and that they are ready to invest,†said Mayor Brown. “It’s because they are confident in the direction of our city and they are confident in Downtown as a venue for growth.â€
The Brown Administration has focused on Downtown revitalization in an effort to make Jacksonville more competitive for economic development and world-class entertainment. Financial Design Associates is adding steam to the momentum for Downtown after several recent major announcements, including the creation of the Downtown Investment Authority, a key part of the mayor’s strategy to restore security to the city’s finances and job market.
“The reason I moved Downtown is I felt like I really wanted to be part of the redevelopment of Downtown Jacksonville, and I think it’s important that business leaders reinvigorate the Downtown area,†said Dominey. “That’s the heartbeat of Jacksonville, and I felt that’s what we needed to do if we’re going to have Downtown grow to the level we want.â€
Financial Design Associates provides a full spectrum of specialized financial consulting services and products to individuals, businesses and organizations. The firm serves more than 20,000 policyholders and clients and administers more than $3.4 billion of life insurance coverage.
Source: COJ
LOL well.. Im glad to see more companies moving to downtown but umm... Why act like its such a grand announcement though. I thought this was something "BIG". But more employees downtown are fine with me. Also read that advanced disposal its talking to the city about incentives. Hopefully that means they are seriously considering downtown for the headquaters. OR they just could be comparing offers. Who knows.
^Lol, every press release from the city has that type of theme. I typically wait until more news comes out before getting too excited one way or the other.
^My mistake, I have no idea why I assumed this was some kind of substantive announcement.
How is 100 people coming downtown not substantive? That's 20,000 square feet of office space or more. If we can regularly have announcements like this, we'll have a considerably larger DT workforce by this time next year.
Quote from: Captain Zissou on September 20, 2012, 02:49:19 PM
How is 100 people coming downtown not substantive? That's 20,000 square feet of office space or more. If we can regularly have announcements like this, we'll have a considerably larger DT workforce by this time next year.
I agree. Weve actually have had a vew companies move recently with 50-75 employees to downtown. I just hate the way they announced it, like it was HUGE or something. They kill me with that.
Quote from: Captain Zissou on September 20, 2012, 02:49:19 PM
How is 100 people coming downtown not substantive? That's 20,000 square feet of office space or more. If we can regularly have announcements like this, we'll have a considerably larger DT workforce by this time next year.
I meant substantive to the point leading the Mayor, City Council president, and company to throw a party over the news. 50 new people is wonderful, but it's hardly the kind of thing that requires a press conference.
Quote from: Tacachale on September 20, 2012, 03:04:43 PM
Quote from: Captain Zissou on September 20, 2012, 02:49:19 PM
How is 100 people coming downtown not substantive? That's 20,000 square feet of office space or more. If we can regularly have announcements like this, we'll have a considerably larger DT workforce by this time next year.
I meant substantive to the point leading the Mayor, City Council president, and company to throw a party over the news. 50 new people is wonderful, but it's hardly the kind of thing that requires a press conference.
I disagree. Even though it's a small number, by holding the presser, it gets the word out that people are moving back to the core. I see it as advertising, and that's not a bad thing in my book.
But after a few 50 here, 25 there, 100 over there, maybe that will be the jumpstart we need to get the 500, 1,000 person business to move as well.
Every person who moves downtown, whether to live or work, is a net plus for the city. How the mayor's office wants to handle that is within their discretion. Personally, I think press conferences should be saved for bigger events, but hell, in this day and age and with the rate downtown is progressing, 100 people IS a big event.
I actually think publicizing prominent firms making the move is a good thing. Everybody wants a positive news story written about them and I think the city is doing the right thing by over exaggerating every deal that comes downtown. It's like a public pat on the back, a "welcome to the club" kind of thing that maybe means more and more companies will want the same press and same pat on the back and to be part of the same thing as Everbank and MassMutual.
^ Excellent point. It isn't as much about the administration patting themselves on the back as it is giving the company moving to downtown a chance for some free PR. Others will take notice and want a piece of that.
A whopping 50 more people coming downtown?!? Quick, we need more parking spaces. ;D Just kidding, I agree with announcing the move because hopefully it will start a trend, and it makes companies picture their names in the headlines for moving downtown. Its just another step closer to where we want to be as it relates to downtown. The more workers downtown, the more chances ppl will utilize the FREE (atleast for the moment) Skyway. I really would like to see the Skyway extented in all of it's directions (Sports complex, San Marco, Riverside, Springfield).
I don't think the Mayor has press conferences when someone creates 50 jobs on the suburban fringes of the city...so in that regard, it shows that he does actually value Downtown and is placing importance on its comeback.
I'd also be interested to know a little more about the type of jobs Mass Mutual is bringing and planning on creating. If they are moderate to high paying jobs, this is definitely newsworthy for Downtown and the urban core.
Downtown isn't going to magically comeback overnight. We need to celebrate every incremental improvement that happens...because over time the incremental increases will add up to large scale changes.
Everbank to move 400 more jobs downtown:
http://www.jaxdailyrecord.com/showstory.php?Story_id=543612
QuoteEverBank to move 400 more jobs Downtown
Friday, August 8, 12:26 PM EDT
By Karen Brune Mathis, Managing Editor
EverBank Financial Corp. will move about 400 more jobs Downtown, the Jacksonville-based company confirmed Friday.
Upon the move, the company will employ more than 1,800 associates in the Downtown EverBank Center at 301 W. Bay St.
EverBank spokeswoman Kipin Alexander said the latest move is in the planning stages and details weren't available about which group would be moving and when.
^^^Excellent news.
JBJ story says they will all be coming from Cypress Plaza and this will make it that all employees are either here or in the Riverside Ave facility.
Wow! This is excellent news! 400 more bodies + the foot traffic Sweet Pete's will generate + the Barnett (assuming it's still moving forward, still haven't seen any activity recently). This will be great for the core.
Things are a chang'n!
I'm hearing some really bad things out of TIAA Bank today.
Sounds like some major cuts are taking place :(
Quote from: KenFSU on February 20, 2019, 02:47:13 PM
I'm hearing some really bad things out of TIAA Bank today.
Sounds like some major cuts are taking place :(
(https://media.tenor.com/images/85a71a5fd64e490919cb3a848777ca62/tenor.gif)
They may have to let go of their naming rights to Municipal Stadium. Could we have a Waffle House stadium in our future?
Quote from: Tacachale on February 20, 2019, 02:55:41 PM
Quote from: KenFSU on February 20, 2019, 02:47:13 PM
I'm hearing some really bad things out of TIAA Bank today.
Sounds like some major cuts are taking place :(
(https://media.tenor.com/images/85a71a5fd64e490919cb3a848777ca62/tenor.gif)
Weird that it hasn't hit the press, but the ENTIRE retail branch side has apparently been killed.
Wonder how many total jobs that is.
Weird, I thought retail branch was one of the reasons TIAA bought Everbank to begin with.
i thought that TIAA wanted their online banking channel.
Quote from: KenFSU on February 20, 2019, 09:30:24 PM
Weird, I thought retail branch was one of the reasons TIAA bought Everbank to begin with.
It has always been my understanding that Everbank was built around Internet banking with customers nationwide. The area branches (only 11, per their web site, all between here and Orlando) were a byproduct of them buying various banks to accumulate deposits and/or other financial assets and maybe to help give them a little street cred by having a physical bank someone could see vs. a virtual bank in the cybersphere. Currently, the branches are probably a mere decimal point to TIAA.
With TIAA's greater recognition and longevity, their huge size and greater national reach and the ongoing evolution of Internet banking, the branches were probably expendable at this point. Not unusual as even the more branch-oriented mega banks are closing branches like crazy.
Quote from: JaxAvondale on February 20, 2019, 10:15:27 PM
i thought that TIAA wanted their online banking channel.
I am pretty sure that was it
They aren't closing their Banking Branches. They are closing their Retail Branch Mortgage Offices it appears.
https://www.jaxdailyrecord.com/article/tiaa-bank-leaving-retail-branch-home-loan-business-will-focus-on-internet
Funny - they got $4.8 million tax dollars 2 years ago to create 200 new jobs. I guess maybe these aren't the 'same' jobs. Wonder if the City will ask for any of the money back.
Quote from: Kerry on February 21, 2019, 05:01:55 PM
Funny - they got $4.8 million tax dollars 2 years ago to create 200 new jobs. I guess maybe these aren't the 'same' jobs. Wonder if the City will ask for any of the money back.
As part of the realignment of that business, the bank will eliminate 132 positions in Jacksonville, spokesman Michael Cosgrove said.
TIAA Bank employed 1,117 people in Jacksonville and 3,285 people in total at the end of 2018, Cosgrove said.
But they didn't get paid to eliminate positions.
These jobs were unlikely created from the incentives.
Quote from: JaxAvondale on February 22, 2019, 07:47:29 AM
These jobs were unlikely created from the incentives.
Usually incentives don't work that way. It is usually based net jobs. Either way, it would be interesting to know if the City is going to look into it. My guess is they aren't.
Quote from: Kerry on February 24, 2019, 03:30:07 PM
Quote from: JaxAvondale on February 22, 2019, 07:47:29 AM
These jobs were unlikely created from the incentives.
Usually incentives don't work that way. It is usually based net jobs. Either way, it would be interesting to know if the City is going to look into it. My guess is they aren't.
These were outside mortgage sales job. It is unlikely that these jobs impacted the Brooklyn or Downtown offices.
Quote from: JaxAvondale on February 24, 2019, 10:30:40 PM
Quote from: Kerry on February 24, 2019, 03:30:07 PM
Quote from: JaxAvondale on February 22, 2019, 07:47:29 AM
These jobs were unlikely created from the incentives.
Usually incentives don't work that way. It is usually based net jobs. Either way, it would be interesting to know if the City is going to look into it. My guess is they aren't.
These were outside mortgage sales job. It is unlikely that these jobs impacted the Brooklyn or Downtown offices.
Just curious, does it not concern anyone else that the City pays for job creation that doesn't happen, or at least doesn't last?
One of the private groups I am member of on Facebook asked the question if the situation with Amazon in NYC signaled and end to corporate welfare. My response was No, that far too many people still believed in globalism and globalist economics. Maybe there are even more believers in NE Florida than I thought.
Quote from: Kerry on February 25, 2019, 07:55:00 AM
Quote from: JaxAvondale on February 24, 2019, 10:30:40 PM
Quote from: Kerry on February 24, 2019, 03:30:07 PM
Quote from: JaxAvondale on February 22, 2019, 07:47:29 AM
These jobs were unlikely created from the incentives.
Usually incentives don't work that way. It is usually based net jobs. Either way, it would be interesting to know if the City is going to look into it. My guess is they aren't.
These were outside mortgage sales job. It is unlikely that these jobs impacted the Brooklyn or Downtown offices.
Just curious, does it not concern anyone else that the City pays for job creation that doesn't happen, or at least doesn't last?
One of the private groups I am member of on Facebook asked the question if the situation with Amazon in NYC signaled and end to corporate welfare. My response was No, that far too many people still believed in globalism and globalist economics. Maybe there are even more believers in NE Florida than I thought.
The jobs were tied to downtown employment. While some of these folks worked downtown, most did not.
Quote from: Steve on February 25, 2019, 08:29:42 AM
Quote from: Kerry on February 25, 2019, 07:55:00 AM
Quote from: JaxAvondale on February 24, 2019, 10:30:40 PM
Quote from: Kerry on February 24, 2019, 03:30:07 PM
Quote from: JaxAvondale on February 22, 2019, 07:47:29 AM
These jobs were unlikely created from the incentives.
Usually incentives don't work that way. It is usually based net jobs. Either way, it would be interesting to know if the City is going to look into it. My guess is they aren't.
These were outside mortgage sales job. It is unlikely that these jobs impacted the Brooklyn or Downtown offices.
Just curious, does it not concern anyone else that the City pays for job creation that doesn't happen, or at least doesn't last?
One of the private groups I am member of on Facebook asked the question if the situation with Amazon in NYC signaled and end to corporate welfare. My response was No, that far too many people still believed in globalism and globalist economics. Maybe there are even more believers in NE Florida than I thought.
The jobs were tied to downtown employment. While some of these folks worked downtown, most did not.
Thanks Steve.