Business Relocations to Jacksonville (Daily Record)

[finehoe]

Are you really "creating" jobs if your goal is to get businesses to move here from somewhere else?  How about incentives that target existing businesses and encourage them to grow.

And how much will this cost the state/city coffers?  You know there must be a taxpayer-funded bribe in there somewhere to get these businesses to move.

[Steve]

^If there are economic incentives tied to job creation, I'm fine with it.  For example, FNF got a total of $12 million to move their headquarters to Jacksonville.  Nationwide, it was probably a net growth of 0 jobs, however it was a very good deal for the city.  The incentives were tied to FNF creating 750 jobs, 500 of which had to be local hires, with a total average salary of $62,000.  I'm fine with that deal.

[ronchamblin]

Thanks Ock.  Will get back.  Going south Duvaldude?  Well… sort of.  Sometimes however, teasing possibilities, almost joking, will lead to something solid.  If the pressure of need exists in an environment, resolution and success can sometimes emerge from the exchange of ideas and proposals, even though some are tongue in cheek. 
In my original post contained wishful thinking and possibilities, few will argue that the suggestions are not a partial match for the needs in the core environment.  Within most situations of need, all that is needed for progress toward solution is a vision of solid description, one that is viable and of reasonable probability of success.   To implement and carry through, all that is needed is individuals who have the desire, tenacity, and the resources of time and funds.  Lack of funds can sometimes be resolved with the right creativity.  After the viable vision exists, the two most important of the required attributes is desire and the tenacity.   
Of course, in the interest of occasional humor, and of exercising our abilities to stretch our imaginations, we may waste a few digital megabits.  However, I am always optimistic.  The Great and Magnificent Oak Sleeps Within the little Acorn. 

[duvaldude08]

^^^I know. I think it is a natural for us to jump to the negative sometimes because they are always dangling the carrot in front of us. Great post also.

[Captain Zissou]

I agree with Steve.  While moving companies to Jax won't get America out of this economic slump, it will significantly help our local economy.  Also, and I say this often, look at Charlotte.  I imagine if BOA and Wachovia never relocated there, their downtown would be in as bad of shape as ours.  A great corporation headquartered in Jacksonville that is a supporter of the city can do wonders.  Right now I don't think that our big companies are reciprocating the good treatment that the city has given them.  We have Deutsche Bank with 1,000+ employees, Merrill Lynch with 1,000+, BCBS with untold thousands, BOA, CSX, FNF, LPS, Vistakon, PSS.......etc.  Other than LPS and Everbank, I can't think of a single one that has given back to the city to further QOL lately.

Another thing to think about is that the more companies you have in your city, the more you'll get.  I'm sure DB's decision to come here had a lot to do with Merrill and BOA already being here.  Why does everyone go to NYC, ATL, Charlotte, San Fran...etc?  They go because similar companies are already there and there are synergies and benefits to building a critical mass of similar corporations.  It's not like two mom and pop shops battling over the lunch crowd.  The reach of these companies is global, so they focus more on infrastructure being in place to support an office and services already being there before they relocate.

[finehoe]

The reach of these companies is global, so they focus more on infrastructure being in place to support an office and services already being there before they relocate.

The talent pool available to a company is just as important.  If your business depends on, say, software programmers, you are not going to relocate to a place where programming skills are few and far between.

[duvaldude08]

I agree with Steve.  While moving companies to Jax won't get America out of this economic slump, it will significantly help our local economy.  Also, and I say this often, look at Charlotte.  I imagine if BOA and Wachovia never relocated there, their downtown would be in as bad of shape as ours.  A great corporation headquartered in Jacksonville that is a supporter of the city can do wonders.  Right now I don't think that our big companies are reciprocating the good treatment that the city has given them.  We have Deutsche Bank with 1,000+ employees, Merrill Lynch with 1,000+, BCBS with untold thousands, BOA, CSX, FNF, LPS, Vistakon, PSS.......etc.  Other than LPS and Everbank, I can't think of a single one that has given back to the city to further QOL lately.

Another thing to think about is that the more companies you have in your city, the more you'll get.  I'm sure DB's decision to come here had a lot to do with Merrill and BOA already being here.  Why does everyone go to NYC, ATL, Charlotte, San Fran...etc?  They go because similar companies are already there and there are synergies and benefits to building a critical mass of similar corporations.  It's not like two mom and pop shops battling over the lunch crowd.  The reach of these companies is global, so they focus more on infrastructure being in place to support an office and services already being there before they relocate.

+++10 Captian. And about Charolette, I actually spoke with an insurance agent from up there and he stated that they fear since Wells Fargo has taken over they may leave Charlotte. Maybe theyre the company relocating here and are setting up shop in the MODIS building (ok yeah Im dreaming dont judge me. Whats wrong with wishful thinking  )

And yes you are correct about charolette. BOA and Wachovia pumped ALOT of money into that city. If it wasnt for them, their downtown would be dead as a door knob.

[fsujax]

Duval its ok to dream....the Wells Fargo relocation would be awesome!

[pwhitford]

The reach of these companies is global, so they focus more on infrastructure being in place to support an office and services already being there before they relocate.

The talent pool available to a company is just as important.  If your business depends on, say, software programmers, you are not going to relocate to a place where programming skills are few and far between.

And believe it or not, schools are a big issue as well.  I know of one corporate relocation consultant, who works primarily in the insurance industry, and she confided one of the biggest problem Jax had as a relocation candidate was its schools.  She claimed it was near impossible to sell Jax as a relocation point to a board room full of potentially transplanting executives if any of them would have children in tow.  Nothing distressed them more than the prospect of all the headaches of relocating compounded by the very real possibility of a negatively affected home life.  Whether it's real or imagined the perception that Duval schools are downright detrimental to a child's education or development is deadly. Needless to say, the quality of the education also dramatically affects the quality of the work force.

[Jdog]

Wouldn't be surprised if it is NAFH National Bank based in Charlotte, North Carolina. 

[simms3]

If Jacksonville attracts this HQ, which I'm all for and hope for, it will go against everything I have been saying on here and on FTU.  I have been saying our taxes are too low to support the kind of environment that many F500 companies desire to be in.

Granted, while I think Jacksonville should take whatever it can get at this point, with incentives if necessary, I won't be giddy over many of the potential companies relocating here.  Some large companies may bring jobs to the area, but that does not mean that most of those jobs will be high paying or that the company will build a new tower and become a city benefactor.

I would be shocked if Jacksonville attracted a financial institution or a company requiring class A office space and a population of Ivy League MBAs.

Brian Moynihan of BofA has been one of the most influential people in Charlotte's history, as well as Duke Energy president Jim Rodgers.  Both can be credited with bringing LYNX, a slew of new museums and cultural venues, several office towers, virtually all of the new residential towers in Uptown, and almost anything else that we give credit to Charlotte for (including the DNC).  Of course as great as some of our own CEOs are, none are near the same level as Moynihan and Rodgers in terms of significance/press/influence.  Perhaps Rummell is the closest we have.

Garden Guy, when we talk about America and certain micro-economies being service oriented, that's usually a good thing (as in white collar jobs, not McDonald's jobs).  Just because a person works the drive through window does not mean that that person is part of the service oriented economy, but is in the "services" industry...kinda'.  The services industry is more akin to hotels, retail, resort, bars/clubs, and full service restaurants.  99% of McDonald's employees are either young and in school or blue collar, and McDonald's is neither part of the service oriented economy or the services industry, but rather the massive fast food industry.  And truth be told, with semantics, there is the chain-hotel industry which is part of the overall "service industry sector."

[Jimmy]

Duval its ok to dream....the Wells Fargo relocation would be awesome!

Wells Fargo would be awesome indeed.  However, senior WF brass has been reticent to move to Jacksonville in the past.  Shelley Freeman wasn't interested in living in our area because it's often seen as unfriendly to gays and lesbians. So she and her partner moved to the Miami area.

This is where the rubber of winning new industry for Jacksonville meets the road of our hostility to difference.  (And probably lots of other quality of life issues in the mix, as well.)  This Creative Class stuff matters.

[mtraininjax]

Why does everyone go to NYC, ATL, Charlotte, San Fran...etc?

Duh, follow the money. Those cities have huge amounts of blue bloods and new money as well. Money contributes to the arts which contributes to new social programs allowing the governments more money for (well waste for one thing) but other capital projects. They are not perfect, but money helps grease all wheels.

Manufacturing? Its dead in the US. Plain and simple. If the unions did not have two hands around Detroit, all cars would be made overseas, where you can pay a 3rd world 10 cents on the dollar compared to the American labor force. Any manufacturing job where labor is 60% or more of the cost can be shipped overseas. Don't look for a resurgence in manufacturing anytime soon in the U.S.

So what does that leave us with, here in Jax? Well, how about logistics? What if Landstar took over a building AND parking and moved from their over-crowded campus on the southside for a downtown residence? Crowley just renovated their buildings in Regency, so they are probably out, but Trailer Bridge could be enticed to move as could other logistic suppliers and companies here in Jax. Why not turn Jacksonville into a Logitistics town, and get away from the paltry service jobs of servicing mortgages?

[finehoe]

Manufacturing? Its dead in the US. Plain and simple.  ...  Don't look for a resurgence in manufacturing anytime soon in the U.S.

Don't be so sure:

"United States manufacturers expanded at the fastest pace in nearly seven years in February, as factories continue to bolster economic growth. "  http://www.nytimes.com/2011/03/02/business/economy/02econ.html?_r=1&scp=2&sq=manufacturing&st=cse

"For the first time in many years, American manufacturing is doing better than the rest of the economy. "  http://www.economist.com/node/18332894?story_id=18332894&CFID=165364178&CFTOKEN=90039116

[fieldafm]

B/c companies have been so good with increasing productivity from less workers... labor costs have actually gone down in this country, which is the exact opposite of what has happened in Europe.  China is beginning to see this trend as well, which is why Brazil has become a burgeoning manufacturing base.  Brazil's economy is also helped by its natural resources for sure... but a blanket statement about US manufacturing such as MTrain is simply not true.

Manufacturing in the US is far from dead.

You would be suprised at the amount of goods(both end consumer products and 2nd stage products) manufactured here in Jax.



I can assure all of you... Wells Fargo is not relocating its corporate HQ here. 


Captain is absolutely right about our current Fortune 500 companies that do far too little to reinvest in Jax.  Perhaps though they see that we are too cheap to reinvest in ourselves, so why should they?  It's a very fair point.