Mayor nutter to announce relocation of major*global company to philadelphia

[dr_gingivitis]

HMMM...
MEDIA ADVISORY -*MAYOR NUTTER TO ANNOUNCE RELOCATION OF MAJOR*GLOBAL COMPANY TO PHILADELPHIA
*WHO:
Mayor Michael A. Nutter
Governor Edward G. Rendell
Congresswoman Allyson Schwartz
Alan Greenberger, Deputy Mayor for Planning and Economic Development
Company representatives
City officials
*WHAT:*Mayor Nutter will announce the relocation of a major global company to Philadelphia. Chaired by the City’s Department of Commerce, the Developer Services Committee worked with company representatives to establish an efficient planning and development process. The Developers Services Committee includes representatives from a variety of City departments, professional development organizations and business organizations. Construction of a new $300 million facility is scheduled to begin in spring 2011 and will create hundreds of construction jobs. The company will employ between 250-500 full-time positions when the facility is completed. This is one of the biggest business attraction initiatives in the history of the City and part of the Nutter Administration’s*Smart City. Smart Choice.*campaign to retain and attract small and large businesses.
*WHERE:*City Hall, Mayor’s Reception Room Room 202
*WHEN:*Thursday, October 28, 2010 1:00 p.m.

[Burholme06]

Well, it can't be bad news! I wonder if this won't be another addition to the Navy Yard. I would love to see a big firm added to the Market West office district myself.

[Cya]

Wow! That's A LOT of people!! Any speculation as to who the company is? Global?
Pharmaceuticals?

[phillycat]

BlackRock.

[five apples]

BlackRock.

My first thought as well, its the right number of people and the building would be cira 2. Pure speculation but a good guess I think.

[Fishtown Phan]

Looks like Teva with an expansion on Red Lion in the Northeast. Pharma Company Expanding into Northeast Philly | Philly | 10/27/2010

[Cya]

HA!! What do I win???

And what's with Allison Schwartz trumping Nutter on the press release?

[dr_gingivitis]

Damn, I thought they were coming to the city! Oh well, that's still good news

[raider.adam]

HA!! What do I win???

And what's with Allison Schwartz trumping Nutter on the press release?

Election season.

[raider.adam]

Damn, I thought they were coming to the city! Oh well, that's still good news

I thought Northeast Philly is in the City.

[Cya]

Red Lion Rd. certainly is in the city. And the commute for those 250-500 workers is gonna be a hell of alot more pleasant than if they set up shop at the Navy Yard or Center City.

[dr_gingivitis]

Red Lion Rd. certainly is in the city. And the commute for those 250-500 workers is gonna be a hell of alot more pleasant than if they set up shop at the Navy Yard or Center City.

You know where they all live? Those 15 minute walks or shuttles are a bitch in Center City or the Navy Yard

[Cya]

I'm thinking lots of them will be commuting from the suburbs.
Besides, it would be quite the task to build a producing pharmaceutical company in center city.

[dr_gingivitis]

I agree with the second part. The recent report shows that the majority of cc workers live in Philly.

I'm thinking lots of them will be commuting from the suburbs.
Besides, it would be quite the task to build a producing pharmaceutical company in center city.

[Dayman]

Well, it can't be bad news! I wonder if this won't be another addition to the Navy Yard.

I've also heard through the grapevine that the Coast Guard is looking to move from Delaware Ave. to the Navy Yard as well. It'd be great for it to bustle again.

[Hospitalitygirl]

You know where they all live? Those 15 minute walks or shuttles are a bitch in Center City or the Navy Yard

Gingi--it's a distribution plant. There really is nowhere in CC to place such a company.

I'm thinking lots of them will be commuting from the suburbs.
Besides, it would be quite the task to build a producing pharmaceutical company in center city.

They'll commute from wherever they have to, and frankly a commute to Red Lion Rd. isn't that difficult. But you are correct in that having a building for what they're planning to do really isn't possible in CC.

[raider.adam]

At the end of the day, better than the burbs.

[dr_gingivitis]

Gingi--it's a distribution plant. There really is nowhere in CC to place such a company.



They'll commute from wherever they have to, and frankly a commute to Red Lion Rd. isn't that difficult. But you are correct in that having a building for what they're planning to do really isn't possible in CC.

I agree, it was half a like, and half a wish that it was downtown, but this clearly makes sense and is great news.

[ArcticSplash]

Just for a size reference, Sugarhouse planned for 900 jobs after its initial scale-out.

500 jobs is definitely welcome. It's a small dent in the 200,000 jobs Philadelphia has lost over the last 20 years.



If BlackRock came to Philadelphia, which I'm afraid Stan Shapiro and Alan Butkovitz helped scare away from Philly; probably for good, the very high salaries of BR employees would have pumped up a significant portion of Wage Tax revenue, although BR only wanted to move here if they could locate their offices entirely inside a KOZ building.

[ArcticSplash]

Looks like Teva with an expansion on Red Lion in the Northeast. Pharma Company Expanding into Northeast Philly | Philly | 10/27/2010

I wonder if having Teva move into town will cancel GSK's long-term... unwritten plans.... to locate out of the city?

Wyeth got a blow in the merger and I'm sure the merger didn't help Chesterbrook/Valley Forge at all, since M&A usually means downsizing and layoffs. Having a new competitor take up a lot of new space here in the city might act like a magnet for the NJ pharmas to pay visits to the City looking for the special tax breaks and kickbacks that Teva got.