Atlanta Economic Development Thread

[Ric 0_0]

Often times job announcements or job reductions throughout Atlanta are posted on different threads. This makes it extremely hard to find a specific announcement you are looking for. I thought making a compilation thread would keep things more organized. After all, jobs are what keep Atlanta going.

[Ric 0_0]

To start off, some Atlanta tech companies are expanding in Atlanta.
(Paid Article)
https://www.bizjournals.com/atlanta/...nd-adding.html

I got this from the Atlanta Inno weekly newletter.

"Looking to make a move in the tech sector? Well, two local tech companies have announced plans to expand their headquarters and add hundreds of new positions. Mailchimp appears to be staying at its headquarters in Ponce City Market, but told the Atlanta Business Chronicle it could add up to 200 jobs in the city by the end of this year. It's likely to expand its offices or maybe even take over another floor at the former Sears plant.

Evident ID Inc., a cybersecurity software startup in Buckhead, could add more than 100 jobs, according to the ABC. The startup is moving from a mid-rise building on Piedmont Rd. to Resurgens Plaza, the building connected to the Lenox MARTA station."

[smArTaLlone]

Good idea.

[smArTaLlone]

Emory University has overtaken Delta Air Lines Inc. as metro Atlanta's largest employer.

Full-time employees at the end of 2018

• Emory 31,214
• Delta 30,714

https://www.bizjournals.com/atlanta/...source=twitter

[Ric 0_0]

https://www.businesstoday.in/current...ry/365392.html
"Ebix Inc, the US-based supplier of on-demand software and e-commerce services to the insurance, healthcare, financial and e-learning industries, has acquired Yatra Online Inc, for an enterprise value of $337.8 million (Rs 2,323.6 crore) in an all-stock deal. The two companies have entered into a definitive agreement under which Ebix will acquire Yatra via merger.The transaction will create India's largest and most profitable travel services company.The transaction has been approved unanimously by each of Ebix's and Yatra's Boards of Directors, and it is expected to close by the fourth quarter of 2019."

[Ric 0_0]

"Atlanta based Cortland Partners has reached an agreement with Canada’s Pure Multi-Family REIT to acquire it in an all-cash transaction of $1.2 billion, including net debt. The REIT’s apartment portfolio is located in Texas and Arizona, allowing Cortland to double down on its own Sunbelt-based market strategy. Specifically, Pure Multi-Family owns and operates 22 apartment communities consisting of 7,085 apartment units in these two states. Cortland’s portfolio consists of 155 apartment communities with over 50,000 units in the US and has regional offices in Charlotte, Dallas, Denver, Houston, and Orlando"
https://www.globest.com/2019/07/19/c...20190619161434

[smArTaLlone]

https://www.bizjournals.com/atlanta/..._news_headline

Only San Francisco, New York and Toronto saw greater increases over that period, based on research released by commercial real estate services company CBRE Group Inc.

Atlanta, which gained 31,880 technology jobs between 2013 and 2018, ranked 9th overall in CBRE's Tech Talent scorecard.

Atlanta produced 28,362 tech degrees while adding almost 32,000 jobs.

[Ric 0_0]

https://www.prnewswire.com/news-rele...300889047.html
Graphic Packaging

"Q2 Net Sales were $1,552.8 million versus $1,510.9 million in the prior year period."
"Q2 Net Income was $63.8 million versus $49.4 million in the prior year period."

"Graphic Packaging Holding Company also announced today that it has reached an agreement to acquire substantially all the assets of Artistic Carton Company through a subsidiary, subject to standard closing conditions. The business includes one coated recycled paperboard (CRB) mill located in White Pigeon, Michigan with annual production capacity of approximately 70,000 tons and two converting facilities located in Auburn, IN and Elgin, IL. The business generated $63 million in revenue during the twelve months ended June 30, 2019. The business is expected to generate approximately $10 million in annualized EBITDA including anticipated synergies over the next 12-18 months. The transaction is expected to close in the third quarter of 2019."

[Ric 0_0]

I'm going to try posting the earning reports of some companies from the area starting now. Sorry I'm a little late. 0_0

Also, if there is something that y'all wanna contribute, please go ahead and do so.

[atlwarrior]

"Delta’s adjusted operating revenue of $12.5 billion for the June quarter improved 8.7 percent, $1 billion higher than prior year quarter. This revenue result marks a record for the company, driven by improvements across Delta’s business, including a ten percent increase in premium product ticket revenue and double-digit percentage increases in loyalty and third-party maintenance revenue."


https://news.delta.com/delta-air-lin...er-2019-profit

[Ric 0_0]

Earning reports for thre Atlanta companies:

Pulte Group
https://www.businesswire.com/news/ho...ancial-Results

Asburry Automotive
https://www.prnewswire.com/news-rele...300891506.html

Equifax
https://www.prnewswire.com/news-rele...300890622.html

[Ric 0_0]

While not headquartered in Atlanta, we should share some love with Columbus and their bank Synovus.

"Synovus Financial Corp. (SNV) on Tuesday reported second-quarter profit of $156.2 million. The bank, based in Columbus, Georgia, said it had earnings of 96 cents per share. Earnings, adjusted for one-time gains and costs, were $1 per share. The results exceeded Wall Street expectations. The average estimate of 10 analysts surveyed by Zacks Investment Research was for earnings of 99 cents per share. The holding company for Synovus Bank posted revenue of $605.9 million in the period. Its revenue net of interest expense was $487.1 million, also exceeding Street forecasts. Seven analysts surveyed by Zacks expected $479 million."

https://www.sfchronicle.com/business...t-14098435.php

[Ric 0_0]

While this may have taken place in April 2019, I still find this to be quite important. Rollins Inc, a home grown Atlanta company, has been doing very well lately. It seems that they might even bump into the Fortune 1000 for 2020.


https://www.rollins.com/news/2019/04-30-2019-214444561

"Rollins, Inc. (NYSE: ROL), a premier global consumer and commercial service company announced today that it completed the purchase of Clark Pest Control of Stockton, Inc. Clark is a family owned company established by Charlie Clark in 1950 and is headquartered in Lodi, CA. It is the leading pest management company in California and the nation's 8th largest pest management company according to PCT 100 rankings. Additionally included in this acquisition are real estate properties and Geotech Supply. Currently, the company operates in 26 locations and offers both residential and commercial pest control throughout California and northwestern Nevada. Clark's Robert Baker will stay on to run day to day operations in California. With this acquisition, Rollins, Inc.'s total customer count is now approximately 2.4M."

The PTC 100 Rankings if anyone is interested.
https://giecdn.blob.core.windows.net...ter%202019.pdf

Rollins 2018 Revenue $1,821,565,000
Clark Pest Control 2018 Revenue $136,390,162

Fun fact, Atlanta based Arrow Exterminators is also on the list as well.
Arrow Exterminators 2018 Revenue $225,115,000

Northwest Exterminators (another Atlanta establisment) used to be in the top 20 I believe, but it was bought by Rollins Inc. What is up with companies in Atlanta cannibalizing each other?

[Sura]

If there was a like feature you'd get one from me with each post. Please keep the news coming.

[Ric 0_0]

Zodiac Data Systems (Safran Aerosystems), a provider of testing instrumentation, telemetry and space communications, will relocate and expand to 3005 Business Park Drive in Norcross. The company will be adding 6 new jobs bringing the total employment at this location to 25 to 31 employees.

“Our expansion of operations here in Georgia continues the 40-plus-year Safran legacy in the United States of supporting U.S. customers and emphasizes our commitment to support U.S. National Defense with U.S. employees and U.S. suppliers. Our customers have recognized the value of our products and have facilitated the rapid growth in revenue since 2016 that is driving our need for this larger facility here in Norcross,” said Jeff Huggins, CEO of the American subsidiary.

https://www.ajc.com/news/local/aeros...t4mf1cannFVlJ/

[Ric 0_0]

UPS Revenue rose 3.4% to $18.05 billion.
UPS reported second-quarter net income of $1.69 billion, or $1.94 per share, compared with $1.49 billion, or $1.71 per share, a year earlier.
https://www.cnbc.com/2019/07/24/ups-earnings.html

[Ric 0_0]

https://www.bizjournals.com/atlanta/...cross-its.html
"CoStar Group announced it is expecting to layoff up to 173 employees across its two Atlanta offices due to company realignment and consolidation of its research unit.

The Washington D.C.-based commercial real estate research firm is eliminating its community research business unit, resulting in layoffs for up to 119 employees from its 3333 Piedmont Road location, the company said in a WARN notice filed with the Georgia Department of Labor.

The terminations are expected to go into effect Sept. 9.

CoStar also expects to layoff up to 54 employees from its office located at 3438 Peachtree Road as it moves its multifamily research business unit from Atlanta to Richmond, Va., the company said in a separate WARN notice."

It's definitely a sizeable loss. I hope that those who are laid off will be able to find employment elsewhere and provide for themselves and their families (if they have one).
It is ironic however. When RockTenn and MeadWestVaco merged and moved the HQ here to Atlanta, they laid off hundreds of people. That left the new WMV HQ that had just been built quite empty. CoStar is moving their employees into this same building.

[tturner39]

Originally Posted by Ric 0_0

https://www.bizjournals.com/atlanta/...cross-its.html
"CoStar Group announced it is expecting to layoff up to 173 employees across its two Atlanta offices due to company realignment and consolidation of its research unit.

The Washington D.C.-based commercial real estate research firm is eliminating its community research business unit, resulting in layoffs for up to 119 employees from its 3333 Piedmont Road location, the company said in a WARN notice filed with the Georgia Department of Labor.

The terminations are expected to go into effect Sept. 9.

CoStar also expects to layoff up to 54 employees from its office located at 3438 Peachtree Road as it moves its multifamily research business unit from Atlanta to Richmond, Va., the company said in a separate WARN notice."

It's definitely a sizeable loss. I hope that those who are laid off will be able to find employment elsewhere and provide for themselves and their families (if they have one).
It is ironic however. When RockTenn and MeadWestVaco merged and moved the HQ here to Atlanta, they laid off hundreds of people. That left the new WMV HQ that had just been built quite empty. CoStar is moving their employees into this same building.

I wouldn't worry too much about it. ABC is kind of sensationalizing the news. CoStar is expanding in Atlanta still with high-paying jobs across different departments at Phipps Tower. Laying off research positions is an effort to combine all of the Research department under one roof in Richmond.

[Ric 0_0]

Originally Posted by tturner39

I wouldn't worry too much about it. ABC is kind of sensationalizing the news. CoStar is expanding in Atlanta still with high-paying jobs across different departments at Phipps Tower. Laying off research positions is an effort to combine all of the Research department under one roof in Richmond.

I'm not particularly worried at all. I just hope the employees will figure their situation out. If one set of layoffs killed Atlanta, then we wouldn't be here at all.

[tturner39]

Originally Posted by Ric 0_0

I'm not particularly worried at all. I just hope the employees will figure their situation out. If one set of layoffs killed Atlanta, then we wouldn't be here at all.

Yeah, that's true. I hope the same for the employees impacted by it too.