Eastern Railroad Discussion > NS Expected to announce HQ move to ATL Wed 12/12

Full Article in Atlanta Journal Constitution

In part.....

Gov. Nathan Deal and Atlanta Mayor Keisha Lance Bottoms are expected Wednesday to formally announce a completed deal to relocate the headquarters of railroad giant Norfolk Southern to Atlanta, two people with knowledge of the situation told The Atlanta Journal-Constitution.Deal has called a 2 p.m. press conference at the State Capitol in what will mark the culmination of years of work to recruit the Fortune 500 railroad away from its home in Norfolk, Va.......Last week, the city of Atlanta’s development arm, Invest Atlanta, approved $23.6 million in tax breaks for Norfolk Southern’s future headquarters campus in Midtown at West Peachtree Street and Ponce de Leon Avenue. State tax credits for newly created jobs and other perks could increase the value of the incentive package by millions more.Norfolk Southern plans a 750,000-square-foot tower totaling about $575 million, according to an Invest Atlanta document. The company is expected to relocate or create 850 jobs and retain more than 2,000 jobs currently located in Midtown near the Woodruff Arts Center.



Edited 1 time(s). Last edit at 12/11/18 23:48 by nsrlink.

...Until they merge with BNSF; Until then: Atlanta Southern? === === = === JLH

$23,000,000.00 in tax breaks for a wealthy company.
Atlanta will have lots of empty office space to rent in whatever year the tax break
agreement ends.  NS will then be moving to some other chump city.

Seen this replay again and again in Chicago.  Huge companies move HQ into town after getting
huge tax breaks. Promise to create xxxxx number of jobs.  HQ people move in, low level
workers get laid off due to downturn of business (or PSR).  Tax breaks expire. Bye Bye. 

Yes this morning the local news was saying the move will bring "hundreds" of new jobs to Atlanta.  Really?? Hundreds??  And like the post above said, let's see what happens when the tax credis run out.

well, i would sure consider commute times and related property values if my job was moved...........

66

$23.6M to a rich company. So does this mean they are finally going to pay all those good penalty claims?? Hell no they won’t. Lots (not all) of those jobs aren’t being created. They are getting transferred to Atlanta. More hype from ambiguous Company press releases.

Norfolk Southern got a deal to move to Norfolk, and got a deal to move to Atlanta.

Amazon got a deal to move part of their growth to northern Virginia, where many expected they would go, regardless.

That bundle of cash would help with a lot of job training in Atlanta, improved schools, transportation, etc. 

And we all know by now that moving the HQ is a way to get rid of higher paid senior workers and replace them with lower paid ones without firing anyone, as many will not want to move.

Lackawanna484 Wrote:
-------------------------------------------------------
> Norfolk Southern got a deal to move to Norfolk,
> and got a deal to move to Atlanta.
>
> Amazon got a deal to move part of their growth to
> northern Virginia, where many expected they would
> go, regardless.
>
> That bundle of cash would help with a lot of job
> training in Atlanta, improved schools,
> transportation, etc. 

Gotta love this country:  Corporate welfare for the rich = GOOD!  Welfare and medical for the poor people = BAD!