The Good News Report

[atlrvr]

2 bits of investment banking news.

Cortview Capital - a broker/dealer and investment banking upstart that is HQed in Richmond but has about a dozen people here acquired Tannery Brook Partners, which was an real estate investment advisory firm based in Charlotte that is headed by the former heads of Wachovia's commercial real estate capital markets and investment banking group. Cortview has temporary space by South Park, and Tannery Brook is in the BofA Plaza downtown. Hopeful they will merge operations into larger downtown space. I have a strong feeling that Cortview will be growing quite a bit, and their new real estate capital markets group will be based in Charlotte.

Piper Jaffray - A middle market investment bank that had an office for about a year in 2007 and closed in the recession just reopened a Charlotte office in the Transamerica Building in Uptown. I don't know how big the office will grow to.

[cltbwimob]

I'm surprised no one has mentioned this...Paramount Lending and New American Mortgage are merging and are expected to create 130 jobs in Charlotte.

Also the National Board of Examiners in Optometry is adding a clinical testing site in Charlotte.

[kermit]

New announcement from the Chamber:

Governor Bev Perdue announced today that HVM, L.L.C., manager of the Extended Stay Hotel chain, will relocate its corporate headquarters to Charlotte.

HVM’s relocation of U.S. and international headquarters from Spartanburg, SC is expected to generate 170 new jobs in Charlotte over the next three years with an average salary of $83,580.

HVM expects soon to sign a lease for 63,000 sq. ft. in the Everett Building at Ballantyne Corporate Park in south Charlotte.

Only in Charlotte is an announcement of 170 new jobs and a corp HQ relocation shrugworthy.....

[KickinChicken23]

I had thought the Seimens facility here just made gas turbines so it was entirely non-nuclear. (this is actually more of a question since I am not certain about nuclear applications for the turbines).

The other local 'nuclear risk' is the Duke / Progress merger. I had thought that part of its economics were driven by the need to reduce capital costs for future nuke construction.

Correct, Siemens Energy in Charlotte does not do Nuclear. They service and manufacture generators and turbines, for Steam, Gas and Air Cooled units. The recent events in the Nuclear world have only boosted future growth for these types of power. The large amounts of hiring being done over the next two years is for the new Gas Turbine division they have just relocated to Charlotte.

[cltbwimob]

American Honda Finance will be using 25000 sf of space in Ballantyne for 125 employees (new employees I presume).

[go_vertical]

Also, Extended Stay Hotels is relocating its headquarters from Spartanburg to Ballantyne.

[Urbanity]

I'm going to put this in this thread because ultimately it will funnel some money into the local economy and adds to Charlotte's ability to attract more productions:

Homeland, a new Showtime Series has been picked up for a full season. The pilot was shot in Charlotte as will the principle exterior filming for the series.

http://www.sho.com/site/announcements/view.do?articleid=1742

[cltbwimob]

Tack this up to speculation:

The Shaw Group is looking for up to 350K SF of space in the Charlotte area over the next 5 years according to the bizjournal. Although I can't find hard numbers, I would estimate this is roughly twice the square footage in their HQ tower in Baton Rouge. I don't know what it actually means for employment but I think it's a lot more space than they currently occupy which could portend a major uptick in employment numbers for the local Shaw operation.

[HopHead]

The Shaw Group has been hush on further expansion here. Though, I think the fact they are looking for more office space only adds fuel to that fire. Would be a huge coupe if can add that in uptown. Though, I doubt that much space is available in one building with exception to maybe the Nascar tower?

[HopHead]

Electrolux will be bringing an additional 200 jobs to it's North American HQ in Charlotte. To accomodate the expansion, Electrolux will be investing $14 million for it's University area campus.

Electrolux Expansion

EDIT: These are also high paying jobs. Average salary is $90k!

Edited April 19, 2011 by dbull75

[bchris02]

The Shaw Group has been hush on further expansion here. Though, I think the fact they are looking for more office space only adds fuel to that fire. Would be a huge coupe if can add that in uptown. Though, I doubt that much space is available in one building with exception to maybe the Nascar tower?

I've heard Bank of America is looking into moving one of its divisions down to Ballantyne from uptown, so if that happens that will open up more uptown space.

[kermit]

I've heard Bank of America is looking into moving one of its divisions down to Ballantyne from uptown, so if that happens that will open up more uptown space.

Why?

I don't doubt you, it just sounds odd given their history and the nature of their business. (can you provide any information about which division?)

[HopHead]

Why?

I don't doubt you, it just sounds odd given their history and the nature of their business. (can you provide any information about which division?)

I'm with you. That doesn't make any sense. Especially since BofA recently built a 32-story tower uptown.

[kermit]

The chamber has announced a "Special Economic Development Press Conference presented by the State of North Carolina."

Anyone have the early news?

I certainly hope this isn't just delayed electrolux news....

[HopHead]

The chamber has announced a "Special Economic Development Press Conference presented by the State of North Carolina."

Anyone have the early news?

I certainly hope this isn't just delayed electrolux news....

They actually announced the Electrolux news yesterday... Where did you see this?

[kermit]

They actually announced the Electrolux news yesterday... Where did you see this?

Chamber listserv [[email protected]] (no special source)

[HopHead]

^Ok, so looks like you're on to something. According to Bob Morgan's (CLT Chamber member) Twitter page, there will be an announcement of some kind this morning at 10am.

[HopHead]

Alright, so the job announcement is for Connextions. It's a Florida-based callcenter services company that works with health insurance firms. They will hire 1,200 in the Charlotte area. About 800 of those jobs will be at their Arrowood facility and the other 400 will be in Concord. Average pay is between $40k-$50k.

[kermit]

^Thanks for breaking the news. Much appreciated.

Its a very large, but weird, announcement.

A call center (shrug)

Medical billing services (perks up)

Salary (not bad)

I do wonder if we are developing a bit of a health insurance back office cluster in town? (what was the name of that corp HQ that relocated to Btyne from San Diego a couple years ago?) Premier. Are there any others?

Edited April 21, 2011 by kermit

[krazeeboi]

Well that's good to hear. About a year or so ago, Connexions lost its Sprint contract and had to let a lot of people go from what I heard.

[New Name]

Northeastern closer to Charlotte campus

If and when the school is approved, the classrooms will be located in what Richards describes as “a prominent uptown location.”

she hopes the school will win approval from the N.C. Board of Governors within the next several months. She has been hired as the lead executive in the bid for a Charlotte location.

[tozmervo]

Wow, very cool. I'm not sure why they need approval from the Board of Governors, but whatever. Now if we could just land that RISD expansion...

[HopHead]

The 2011 Fortune 500 list has been released. If you include Fort Mill, SC there are TEN Fortune 500 companies that are headquartered in the Charlotte metro area:

9. Bank of America Corp

50. Lowe's

157. Nucor

173. Duke Energy

302. Family Dollar Stores

337. Goodrich

339. Sonic Automotive

394. Domtar *Fort Mill

460. SPX

498. Ruddick

Edited May 5, 2011 by dbull75

[krazeeboi]

Ruddick appears to be a newcomer to the list for Charlotte, no? If so, that helps to keep Charlotte in double digits with the loss of Wachovia.

[HopHead]

Ruddick appears to be a newcomer to the list for Charlotte, no? If so, that helps to keep Charlotte in double digits with the loss of Wachovia.

Yea, it's the first time I've noticed them on the F500. Ruddick is actually the parent company for Harris Teeter (in case anyone didn't know).