PHILADELPHIA | Schuylkill Yards Future Phases | 1,095 - 375 FT | 70 - 28 FLOORS

[iheartphilly]

Originally Posted by mcgrath618

When you have the city giving billions of dollars in tax breaks to a single entity, you tend to get a bit of an imbalance.
At least, that's how I'll console myself.

I understand the tax credits. It's not really coming out of the city's bank accounts. However, if the city offered to write a check to pay for something, then that is totally different and a return on investment analysis would need to be calculated to see if there is a break even point and better yet a net tax gain by the city. Further, what they are going to take in from other taxes like wage tax, PA state income tax, and whatever other city taxes are collected that are exempt as part of the tax credit would be a net gain for the city. Also, other taxes will be generated by the use of consumables in the city like electricity and other utilities in the new/existing high-rises, dining out, leasing an apartment, buying a home, supporting local business. I think all of this needs to be accounted for over x number of years x the number of people the company would of employed. These taxes from an individual working at the company would compound year over year.

[mellon23]

Now that we're 99% certain that HQ2 won't be in Philly, but very likely in the DC area, do we think there are any indirect economic benefits of being a 2.5 hour drive away from Amazon (and shorter via Amtrak)? Surely because of Philly's location between NYC and DC, any economic growth in either of those two cities is a positive for Philly too. Trying to think optimistically here.

[Nova08]

Originally Posted by mellon23

Now that we're 99% certain that HQ2 won't be in Philly, but very likely in the DC area, do we think there are any indirect economic benefits of being a 2.5 hour drive away from Amazon (and shorter via Amtrak)? Surely because of Philly's location between NYC and DC, any economic growth in either of those two cities is a positive for Philly too. Trying to think optimistically here.

None. And I still think NoVa is not certain yet.

I'm tired of the HQ2 antics as well, but I was really pushing for an outside player to shake up Philadelphia's slow and steady approach.

I have to go back and look at the SY building breakdown. I know there is quite a bit of planned lab, residential and (hotel?) components, but my short term optimism for SY goes down if they cannot land several anchor tenants likely needing to be from outside the area to take 500,000+ sq ft of space. HQ2 was a great first run and it sounds like we've landed some small players because of it. But everyone involved from the city needs to put their money where their mouth was and make it happen for another company, not just forget about it all.

I mean the big FAANG tech players have just about 0 presence in Philadelphia when many of the competitor cities have them, some with 500-1,000+ employees.

[Philly Fan]

Originally Posted by Nova08

And I still think NoVa is not certain yet.

Agreed. And that's supported by two quotes from the Inquirer article about this latest NoVa/Crystal City speculation:

Mike Grella, Amazon's economic development director, reacting to the Post's story, posted on Twitter: "Memo to the genius leaking info
about Crystal City, VA as #HQ2 selection. You're not doing Crystal City, VA any favors."

John Boyd, a Princeton-based corporate-location adviser whose company has helped Boeing Co., PepsiCo Inc., and others with site searches, said he was especially interested in what Bezos had meant last week when he said in an onstage interview that he planned to rely on his intuition alongside the quantitative data Amazon is compiling for his HQ2 site deliberations.

"You immerse yourself in that data, but then you make the decision with your heart," Bezos told journalist Walter Isaacson during the Thursday event in New York hosted by the education nonprofit FIRST.

The comment was "very significant and indicative of this idea of social impact," Boyd said, "and I think that's something for Philadelphia and Chicago and Newark, N.J., to feel good about."

Amid reported Amazon HQ2 talks for Northern Va. site, Philly not counting itself out of the running

And as I've stated previously, Amazon appears to be placing a heavy premium on the secrecy of its ultimate choice so that it can make the biggest PR splash--and perhaps social impact--with the big announcement.

[Boku]

Amazon Plans to Split HQ2 Evenly Between Two Cities

https://www.wsj.com/articles/amazon-...ies-1541446552

It's behind a paywall but the headline sums it up.

[Urbanthusiat]

Originally Posted by Boku

Amazon Plans to Split HQ2 Evenly Between Two Cities

https://www.wsj.com/articles/amazon-...ies-1541446552

It's behind a paywall but the headline sums it up.

It'm 95% sure it'll be Dallas and Nova. Official announcement expected as soon as this week.

[Boku]

Originally Posted by Urbanthusiat

It'm 95% sure it'll be Dallas and Nova. Official announcement expected as soon as this week.

Safe and boring, lol, why would we expect anything else?

[skyscraper]

Originally Posted by Philly Fan

Agreed. And that's supported by two quotes from the Inquirer article about this latest NoVa/Crystal City speculation:





Amid reported Amazon HQ2 talks for Northern Va. site, Philly not counting itself out of the running

And as I've stated previously, Amazon appears to be placing a heavy premium on the secrecy of its ultimate choice so that it can make the biggest PR splash--and perhaps social impact--with the big announcement.

wish I could share your optimism dude, but the inky, which sucks, sees its job to be a philly cheerleader. it is the only source I have seen that still thinks we have a chance for hq2. I hope you're right and I'm wrong, but I don't think so.

[Jayfar]

Originally Posted by Urbanthusiat

It'm 95% sure it'll be Dallas and Nova. Official announcement expected as soon as this week.

Could be. An earlier WSJ report put the top contenders as Crystal City, NYC and Dallas.

[Urbanthusiat]

Originally Posted by Jayfar

Could be. An earlier WSJ report put the top contenders as Crystal City, NYC and Dallas.

I figure if it's down to those three, and Crystal City is definitely one, then Dallas makes more sense than NYC for the other spot.

[mcgrath618]

It would make some sense for the two cities to be really close to one another *cough cough* Philly and NYC or Philly and NoVa *cough cough*

[Jayfar]

Originally Posted by mcgrath618

It would make some sense for the two cities to be really close to one another *cough cough* Philly and NYC or Philly and NoVa *cough cough*

OTOH, it would make some sense for the three HQs to be more evenly dispersed around the country, Seattle, NoVA and Dallas.

[iheartphilly]

^
I can't see Dallas being the choice. Bezos is too ultra of a liberal for Dallas.

[Urbanthusiat]

Originally Posted by iheartphilly

^
I can't see Dallas being the choice. Bezos is too ultra of a liberal for Dallas.

I think people are giving that factor too much weight. It's a business decision, nor would I call Bezos an "ultra liberal" at least with regards to economic issues. Even if you do look at it that way, he could make a big social impact by helping push the biggest red state blue by locating Amazon in Dallas. In any case, I don't think that's a factor.

[Philly Fan]

Originally Posted by skyscraper

wish I could share your optimism dude, but the inky, which sucks, sees its job to be a philly cheerleader. it is the only source I have seen that still thinks we have a chance for hq2. I hope you're right and I'm wrong, but I don't think so.

But the two quotes I cited are from a high-level Amazon exec. and a leading corporate location adviser, and not the Inquirer, although printed in the Inquirer. I know Philly's a bit of a long shot at this point, but there is a scenario in which Amazon would try to shock and awe with its decision, and not go where the media and safe money had been predicting all along. Can you imagine the PR jolt and buzz if after all of the speculation, Amazon announced that Philly were the winner?

[Jayfar]

Originally Posted by Philly Fan

I know Philly's a bit of a long shot at this point, but there is a scenario in which Amazon would try to shock and awe with its decision, and not go where the media and safe money had been predicting all along.

So Raleigh then?

[Londonee]

The city needs to really look at how it presents itself to the world. After landing at the Airport, Amazon workers would have been whisked in the back of a black SUV past oil refineries, factory shells, a massive TRIGEN plant and decaying neighborhoods all along a weed strewn, litter infested highway that hasn't seen any meaningful investment since the Kennedy Administration. First impressions pack a powerful punch: "This is where I'm going to ask thousands of vendors/clients/consultants/employees to travel in and out of? I don't think so."

I was shooting on Broad Street near the convention center one night last week around 10pm. There's a brand new Aloft hotel there that looks pretty nice. Next door, though, was a fairly large homeless encampment (and all the accompanying accoutrement) taking up residence at the Church and on the sidewalk. On the gameboard plaza in front of the MSB were several skateboarders, and turning the corner and speeding up broad street was a dirtbike gang - like, it felt incredibly lawless, 100 yards from City Hall. Meanwhile, I'm watching hotel guests with their luggage dodge the seedy homeless camp and watch in wtf awe at the dirtbike gang. I'd be like, "take my word for it, just a few blocks south are really nice and cosmopolitan" - but most people's minds would already have been made up and I don't blame them.

Until the city sweeps itself up and take itself seriously, it'll NEVER land these types of businesses.

[Philly Fan]

Originally Posted by Jayfar

So Raleigh then?

Exactly.

[iheartphilly]

Any takers on Crystal City and Philly with the HQ2 split? Basically 25k workers in each state or is it a joke now?

[MichaelScottsOffice]

I find it strange that the info about Crystal City was reported by Amazons own newspaper, almost seemed on purpose. Maybe I’m just a conspiracy theorist at heart.