QuoteThe code-named fintech company plans to base 673 jobs in Jacksonville and invest $6.4 million in Downtown office space.
Full article: https://www.jaxdailyrecord.com/article/miami-beach-based-nymbus-inc-matches-project-end-game
What would downtown be without VyStar?
Quote
Nymbus' Jacksonville investment partner is VyStar Credit Union.
On April 27, Jacksonville-based VyStar announced a $20 million investment in the Nymbus Credit Union Service Organization. Nymbus lists VyStar as a lead investor in Nymbus CUSO.
Nymbus CUSO was formed in March to connect "credit unions with trusted fintech offerings that enable opportunities for generating new revenue streams while deepening connections and value to members," according to a news release on the Nymbus website.
End Game told the city it plans to lease existing Downtown office space and is willing to consider moving its headquarters here.
Vystar is recreating some of what Downtown use to have in the 1980's and earlier: A workforce largely centered around financial services.
In those days it was Barnett Bank, Atlantic Bank, Florida National Bank, Duval Savings and Loan, First Federal Savings and Loan, SWD, Charter Mortgage, Florida Title, Independent Life, American Heritage Life, etc. - all HQ'd downtown even though they were throughout the region, state or Southeast U.S. Every one acquired over the years and moved from the City or to the suburbs. Vystar is the first significant player to bring back those days.
Quote from: jaxlongtimer on September 27, 2021, 12:18:58 PM
Vystar is recreating some of what Downtown use to have in the 1980's and earlier: A workforce largely centered around financial services.
In those days it was Barnett Bank, Atlantic Bank, Florida National Bank, Duval Savings and Loan, First Federal Savings and Loan, SWD, Charter Mortgage, Florida Title, Independent Life, America Heritage Life, etc. - all HQ'd downtown event though they were throughout the region, state or Southeast U.S. Every one acquired over the years and moved from the City or to the suburbs. Vystar is the first significant player to bring back those days.
Hopefully they don't get bought out and the HQ jobs sent elsewhere.
I just Googled the Nymbus Miami Beach HQ. Doesn't look very glamorous despite the location so can see the move to DT Jax being a positive for their profile.
I guess the next question is where is the space to accommodate them? Do the VyStar Tower or 100 W Bay next door have it?
Quote from: landfall on September 27, 2021, 02:12:56 PM
I just Googled the Nymbus Miami Beach HQ. Doesn't look very glamorous despite the location so can see the move to DT Jax being a positive for their profile.
I guess the next question is where is the space to accommodate them? Do the VyStar Tower or 100 W Bay next door have it?
I'm fairly confident neither of these buildings have space for 700 employees. Heck, there were rumors that VyStar would need more space themselves.
To me the obvious candidates are either One Enterprise Center or the current JEA HQ, after a thorough renovation.
^ There may be some space, too, in the TIAA Bank Tower following the sale/closure of a business operation they had there.
Nice get!
https://www.news4jax.com/news/local/2021/10/05/financial-technology-company-nymbus-moving-headquarters-from-miami-to-jacksonville/
Question is how many actual relocations to Jacksonville this would create or is it more taking advantage of incentives to break a lease or offloading office space no longer needed these days?
Looks like they'll be going to the VyStar Tower initially. From WJCT.
QuoteVyStar Chief Member Experience Officer Joel Swanson, who sits on Nymbus' board, said the credit union would initially rent out 4,000 square feet to Nymbus, serving the first few dozen employees who move to the downtown headquarters.
Swanson said he hopes all 600 jobs will eventually be located at the VyStar building. More space will be rented out in phases as Nymbus hires more personnel. It would need tens of thousands of square feet to house 400 or more employees. VyStar's Downtown campus has over 380,000 square feet.
Nymbus also will develop VyStar's new online banking system, which Swanson said will tentatively begin service in January for both mobile and computers.
Nymbus' identity was secret until the announcement Tuesday. The company was called only "Project End Game" when City Council approved its resolution in August.