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  #3181  
Old Posted Aug 17, 2019, 12:59 PM
the urban politician the urban politician is offline
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The Central Loop remains a strong destination for companies and may be staging a comeback:

https://www.chicagobusiness.com/joe-...-spot-business
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  #3182  
Old Posted Aug 19, 2019, 4:09 PM
the urban politician the urban politician is offline
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I thought this news belongs here as well:

Uber confirms huge lease at OPO:

https://www.chicagobusiness.com/comm...t-office-lease

Quote:
it will become Uber’s second-largest office, behind its headquarters in San Francisco.
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  #3183  
Old Posted Aug 19, 2019, 4:44 PM
IrishIllini IrishIllini is offline
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Anyone know if Uber received any incentives to expand here? I’m not seeing anything after a quick search.

Last week the city of Dallas approved an incentives package totaling $9m. Seems like it may be as many as 3k jobs. Dallas County is voting on an additional package this week.

What public agency tracks incentives spending in North Texas? I want to know how much DFW has spent on incentive packages in the last 15-20 years. Seems like everyone has been paid to set up shop there.
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  #3184  
Old Posted Aug 19, 2019, 4:49 PM
the urban politician the urban politician is offline
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Originally Posted by IrishIllini View Post
Anyone know if Uber received any incentives to expand here? I’m not seeing anything after a quick search.

Last week the city of Dallas approved an incentives package totaling $9m. Seems like it may be as many as 3k jobs. Dallas County is voting on an additional package this week.

What public agency tracks incentives spending in North Texas? I want to know how much DFW has spent on incentive packages in the last 15-20 years. Seems like everyone has been paid to set up shop there.
I don't believe Chicago is offering any incentives
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  #3185  
Old Posted Aug 19, 2019, 5:20 PM
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I love it.





https://www.dallasnews.com/business/...-san-francisco

Uber's Dallas office could bring 3,000 jobs downtown, be company's biggest hub outside San Francisco

Filed under Technology at Aug 9



Uber could soon open a major office in Dallas and turn the city into its largest corporate hub outside of its San Francisco headquarters, according to city and county documents.


The transportation giant plans to spend about $125 million on its office buildout, create 3,000 full-time jobs and pay employees an average salary of at least $100,000, according to the agenda for the Dallas County Commissioners Court meeting on Aug. 20.


Uber has evaluated sites across the country and plans to move into two office buildings at the edge of Deep Ellum and downtown, the agenda says. The office would include engineers, finance executives, salespeople and other roles across Uber's business.

Uber looked at sites in Arizona and Dallas for the office, according to the agenda for the Dallas City Council meeting on Aug. 14.







Uber would not confirm whether it has decided on Dallas.

"Uber is evaluating adding a significant number of jobs in Dallas and investing directly in the community," Uber spokesman Travis Considine said in a statement. "Our team is currently discussing the opportunity with state and local leaders, and we hope to make a decision by the fall."

Officials will vote on economic incentives for the project this month. Uber could receive about $3.3 million in tax breaks from the city and county and up to $8.6 million in economic development grants from the city.

The city of Dallas plans to offer Uber about $746,000 in tax breaks through a 50% tax abatement over five years. The Dallas City Council is expected to vote Wednesday on its economic incentive package.

Dallas County plans to offer Uber a total of about $2.6 million in tax breaks. If county commissioners approve the deal, Uber would get a 50% tax abatement on real property and a 90% tax abatement on business personal property over 10 years. Dallas County would collect about $2.1 million from Uber during that time.


Uber must create at least 2,500 new jobs by Jan. 1, 2023, and a total of 3,000 or more new jobs by Jan. 1, 2025, to receive the tax breaks from Dallas County.

Through a spokesperson, the governor's office declined to say whether the state has offered Uber economic incentives.









Uber told The Dallas Morning News in May that Dallas was a leading contender for a major corporate campus. At the time, Uber said it was focused on space at The Epic, an 8-acre development near downtown Dallas.

The company plans to spend $25 million on business personal property and another $100 million to decorate and finish out the building, according to the agenda for the Dallas County Commissioners Court meeting.

Dallas Mayor Eric Johnson said in a statement that he is "thrilled that Dallas is a finalist for the company's planned expansion." He said the city is "offering a competitive, creative incentive package."

"I am confident that Dallas is the ideal city to foster Uber's future growth," he said.

Dallas County Judge Clay Jenkins said Uber's expansion in Dallas would inspire other companies, especially technology and transportation companies, to give the city a closer look. He said Uber's employees would stimulate the economy in and around downtown Dallas, too.

"They'll buy homes. They'll eat here. They'll shop here. They'll go to the dry cleaner's and the movies here," he said. "The spending goes well beyond the tiny number of what we get or don't get on property taxes."



....



Uber would be one of the largest corporate expansions in the Dallas-Fort Worth area in at least the last decade
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  #3186  
Old Posted Aug 19, 2019, 5:24 PM
the urban politician the urban politician is offline
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^ What the hell does this have at all to do with Chicago?

Anyhow, we don't need to offer incentives. Downtown Chicago is the incentive
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  #3187  
Old Posted Aug 19, 2019, 5:37 PM
Chisouthside Chisouthside is offline
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based from the article and a quick search it seems chicago might've been in competition with Dallas for the expansion, especially as nothing has been confirmed in Dallas?
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  #3188  
Old Posted Aug 19, 2019, 5:38 PM
marothisu marothisu is offline
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It's possible that Chicago beat Dallas for this, but not sure. Regardless, 450,000 sq ft is more than 3000 employees. In terms of new jobs, there could be as many new ones added in Chicago as Dallas.
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  #3189  
Old Posted Aug 19, 2019, 5:46 PM
the urban politician the urban politician is offline
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Originally Posted by marothisu View Post
It's possible that Chicago beat Dallas for this, but not sure. Regardless, 450,000 sq ft is more than 3000 employees. In terms of new jobs, there could be as many new ones added in Chicago as Dallas.
Gotcha.

Well, regardless of what happens in Dallas, this is a huge boost locally and a signed lease, so cheers
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  #3190  
Old Posted Aug 19, 2019, 5:53 PM
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Originally Posted by the urban politician View Post
^ What the hell does this have at all to do with Chicago?

Anyhow, we don't need to offer incentives. Downtown Chicago is the incentive

I think it means they didn’t choose Dallas but Chicago intead
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  #3191  
Old Posted Aug 19, 2019, 6:12 PM
Via Chicago Via Chicago is offline
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Originally Posted by marothisu View Post
I wouldn't say pyramid scheme, but they are scammy.. As of last year it owed $18B in back rent. The CEO was also doing some really shady stuff.
I mean, the idea is called subleasing and that they’re making people think it’s anything else is VC brain rot at the absolute worst





https://www.cbsnews.com/news/wework-...2xplhm1OHK6-XY


also responsible for this dystopian concept

https://www.gq.com/story/inside-welive

Last edited by Via Chicago; Aug 19, 2019 at 6:37 PM.
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  #3192  
Old Posted Aug 19, 2019, 6:19 PM
the urban politician the urban politician is offline
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Originally Posted by bnk View Post
I think it means they didn’t choose Dallas but Chicago intead
Well, I think you may be right. See bolded part below:

Quote:
Uber joins corporate parade to Chicago’s Old Main Post Office
The tech giant will occupy 463,000 square feet in the renovated landmark.

By David Roeder@RoederDavid Aug 19, 2019, 11:43am CDT

Uber Technologies has signed a lease for 463,000 square feet in Chicago’s Old Main Post Office, making it the largest tenant for the revived landmark, the property’s leasing agent said Monday.

Telos Group, in confirming the deal, said the building at 433 W. Van Buren St. now has tenants committed for more than 1 million square feet. Uber will join Walgreens, Ferrara Candy, HomeChef and AbelsonTaylor in the building.

The lease covers 10 years. Uber said it will officially take over the space Jan. 5, 2020, with construction to start the following spring. It said it will be the company’s second largest office behind its San Francisco headquarters.

“Uber is excited to deepen its roots in Chicago,” spokeswoman Kelley Quinn said. “The city continues to attract the top talent that Uber needs to continue to thrive, and we remain committed to working together to have a positive impact in the local community. This is just the first of several announcements to be made in the coming weeks that we look forward to sharing with the people of Chicago.”

The company chose Chicago over office options in Dallas and New York City, Telos said.
https://chicago.suntimes.com/busines...in-post-office
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  #3193  
Old Posted Aug 19, 2019, 6:36 PM
IrishIllini IrishIllini is offline
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Originally Posted by the urban politician View Post
Well, I think you may be right. See bolded part below:



https://chicago.suntimes.com/busines...in-post-office
Well ain’t that something. I’m sure the city of Dallas will find another company to bribe, but great to see the beloved win the prize without handing over $9m. Still suspect of Uber’s long term viability, but I’ll take the W.
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  #3194  
Old Posted Aug 19, 2019, 8:16 PM
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Chicago getting the HQ over Dallas and NYC emphasizes the trend of West Coast companies wanting to open in dense, urban settings that are also relatively affordable

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Originally Posted by IrishIllini View Post
Well ain’t that something. I’m sure the city of Dallas will find another company to bribe, but great to see the beloved win the prize without handing over $9m. Still suspect of Uber’s long term viability, but I’ll take the W.
Same here. Uber may not last in the long term, but it is a signal for other tech businesses to set up shop in the city. Those businesses will continue to contribute the city's tech environment even if Uber goes bankrupt.
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  #3195  
Old Posted Aug 19, 2019, 8:17 PM
marothisu marothisu is offline
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Originally Posted by Via Chicago View Post
I mean, the idea is called subleasing and that they’re making people think it’s anything else is VC brain rot at the absolute worst





https://www.cbsnews.com/news/wework-...2xplhm1OHK6-XY


also responsible for this dystopian concept

https://www.gq.com/story/inside-welive
Their IPO is going to be a shit show.
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  #3196  
Old Posted Aug 19, 2019, 8:19 PM
the urban politician the urban politician is offline
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Originally Posted by Randomguy34 View Post
Chicago getting the HQ over Dallas and NYC emphasizes the trend of West Coast companies wanting to open in dense, urban settings that are also relatively affordable



Same here. Uber may not last in the long term, but it is a signal for other tech businesses to set up shop in the city. Those businesses will continue to contribute the city's tech environment even if Uber goes bankrupt.
This article is saying that Uber is still considering opening its Dallas office:

https://www.dallasnews.com/business/...ansion-chicago
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  #3197  
Old Posted Aug 19, 2019, 8:48 PM
LouisVanDerWright LouisVanDerWright is offline
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Originally Posted by Via Chicago View Post
I mean, the idea is called subleasing and that they’re making people think it’s anything else is VC brain rot at the absolute worst





https://www.cbsnews.com/news/wework-...2xplhm1OHK6-XY


also responsible for this dystopian concept

https://www.gq.com/story/inside-welive
Somehow they've mannaged to turn subleasing and interior decorating into a speculative "tech" industry. How they count as a "unicorn" is beyond me...

As a commercial landlord I would not rent to them in a million years no matter how much money they offer me. They will go bankrupt at the first signs of economic distress.

Quote:
Originally Posted by the urban politician View Post
Well, I think you may be right. See bolded part below:



https://chicago.suntimes.com/busines...in-post-office
The sunbelt can get bent. Icing on the cake to see them turn down NYC and Dallas despite their best bribe.

I'm not worried about Uber lasting, they too suffer from the Free Money VC bubble, but at least they've truly changed an industry and added real value. Even if they have a day of reckoning I don't think the company will disappear, I think it will just have to restructure. I think their real goal is to hold out long enough to be able to eliminate drivers and just provide their service with self driving vehicles. That would make them profitable real quick...

If I recall their biggest issue right now is a driver shortage, at least at the prices they are willing to pay drivers.

Quote:
Originally Posted by marothisu View Post
Their IPO is going to be a shit show.
I hope it starts with a skyrocking price so I can subsequently short the shit of them...
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  #3198  
Old Posted Aug 19, 2019, 10:17 PM
marothisu marothisu is offline
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Originally Posted by the urban politician View Post
This article is saying that Uber is still considering opening its Dallas office:

https://www.dallasnews.com/business/...ansion-chicago
Regardless it's awesome news for Chicago. And regarding Dallas, there's more tech talent there than many people realize so it's not surprising. It's just not necessarily in the form of tons of startups - more big business, and people are less vocal about it.

As far as Chicago goes, these types of things should hopefully snowball more and more into greater expansions/relocations/etc. I think I read somewhere that there's 1000 or so people in Chicago corporate wise, so this type of space I'm estimating would add another at least 3000. Old Post Office has high ceilings and what not, so I'm sure they'll go with the open floor plan type of thing.
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  #3199  
Old Posted Aug 19, 2019, 10:40 PM
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Originally Posted by marothisu View Post
Regardless it's awesome news for Chicago. And regarding Dallas, there's more tech talent there than many people realize so it's not surprising. It's just not necessarily in the form of tons of startups - more big business, and people are less vocal about it.
My knowledge of the Dallas tech scene comes exclusively from Office Space. Hope they get more Miltons.
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  #3200  
Old Posted Aug 19, 2019, 10:44 PM
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My knowledge of the Dallas tech scene comes exclusively from Office Space. Hope they get more Miltons.
LOL - we have a sizable office in Dallas. The reality is that there's a lot of tech people in the area and it's growing. And while they have startups and whatever, Chicago still beats it when it comes to that. Dallas is more corporate but still many people work in the industry.
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