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Cincinnati: Downtown: The Banks

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Here is some info on the business unit. Looks like it will be 1 of the 5 new global shared service centers. Finance and IT are mentioned in the article.

 

<update> and now the enquirer http://www.cincinnati.com/story/news/2014/04/09/ge-project-bring-jobs/7518947/

 

http://www.streetinsider.com/Press+Releases/GE+New+Shared+Services+Center+Bringing+1,400+Jobs+To+Greater+Cincinnati/9370087.html

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I hope Cranley doesn't f this up like he does everything else.  If he can help brings this to the Banks, (or at least Oakley) it will be a major win for the City.  He needs to offer every incentive in the City's arsenal to brings this to the Banks.

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Looks like it's Oakley or The Banks!

 

GE picks Cincinnati for 1,400 job center

Chris Wetterich Staff reporter- Cincinnati Business

 

General Electric will bring 1,400 new jobs to Greater Cincinnati for a facility devoted to information technology, finance and other shared services, JobsOhio and the company announced today.

 

The multinational giant expects to break ground on a site to be located in Cincinnati this summer – either in Oakley or downtown at the Banks. The likely Oakley location is at the Oakley Station development.

 

http://www.bizjournals.com/cincinnati/news/2014/04/10/ge-picks-cincinnati-for-1-400-job-center.html

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Glad to hear Mason is out off the list of potential sites.

 

I'm obviously biased in wanting this for The Banks, but in all reality it really would be a better site for workers. Oakley Station is devoid of life and isn't a good example of recent strengths within our city for people who will be moving to Cincy for these 1,400 jobs. By placing them Downtown in the middle of everything it's a lot more likely they'll become integrated into the progress the city is seeing and this will help continue building a support network for said progress.

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Here is some info on the business unit. Looks like it will be 1 of the 5 new global shared service centers. Finance and IT are mentioned in the article.

 

<update> and now the enquirer http://www.cincinnati.com/story/news/2014/04/09/ge-project-bring-jobs/7518947/

 

http://www.streetinsider.com/Press+Releases/GE+New+Shared+Services+Center+Bringing+1,400+Jobs+To+Greater+Cincinnati/9370087.html

 

That is a "Big" deal

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Now the interesting thing with The Banks and Oakley is that both are in the city, but the city/county also own a piece of the banks.

They are also a taxing authority so they have an advantage over Oakley. They can say come here for a large payroll tax cut that we

won't give you at Oakley, a bit of a conflict of interest.

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The office tower for 180 Walnut is expected to have 233,500 square feet according to http://www.180walnut.com/facts.html.

 

Not sure if they can build it higher or occupy a second building in phase 2 or 3, but it seems to be pretty limiting to GE and I wouldn't be surprised if they choose Oakley. Though I think the little bit about GE supporting the Freedom Center's conference space conversion is an interesting detail. Hopefully they choose The Banks. Either way it is positive for the city.

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Maybe related, maybe unrelated, but hasn't GE expressed interest in renovating the conference rooms at the Freedom Center recently?

 

The Banks would offer some great amenities to a GE office- a huge park for your front yard, walking distance to restaurants and a future hotel for out of town business travelers.  Plus, putting a GE logo on the Cincinnati skyline would impressive for business travelers coming in from the airport.

 

This was in reference to the Freedom Center proposing to move offices out of the upper floors of their structure and convert them into rentable conference space. You can read about it here. GE has announced financial support of this conversion.

 

From the article posted:

 

The plan: Turn top-floor executive offices – which have sweeping views of the Ohio River – into conference space that can be rented out to generate ongoing revenue for the Freedom Center.

 

General Electric Aviation has offered to help pay for the conversion, which will cost $2.6 million. The project won't start until all the money has been raised.

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Maybe they will completely re-work one of the phases at the banks to accommodate the larger office building... For example not doing the phase 2 apartments and put the office building there and move phase 2 apartments to the phase 1 office building or completely redo phase 3 and push it up in schedule.

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There is no reason that there should be a size/space limit at the Banks.  There is a parking lot the size of small country West of the Freedom Center.  This is more than enough room for whatever size building GE wants.  If they have to rework the master plan for that area, then rework the master plan. 

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Did they ever say how many square feet the phase 2 office building could end up being? It appears to be a larger building than the Phase 1 office building.

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Looks like it's Oakley or The Banks!

 

GE picks Cincinnati for 1,400 job center

Chris Wetterich Staff reporter- Cincinnati Business

 

General Electric will bring 1,400 new jobs to Greater Cincinnati for a facility devoted to information technology, finance and other shared services, JobsOhio and the company announced today.

 

The multinational giant expects to break ground on a site to be located in Cincinnati this summer – either in Oakley or downtown at the Banks. The likely Oakley location is at the Oakley Station development.

 

http://www.bizjournals.com/cincinnati/news/2014/04/10/ge-picks-cincinnati-for-1-400-job-center.html

 

I wonder how he knows it's down to those two, or if he just accidentally left off Mason?

 

I assume they would have to decide relatively quickly if they are going to break ground this summer.

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GE to lease temporary space for hundreds of jobs in downtown Cincinnati

Tom Demeropolis - Cincinnati Business Courier

http://www.bizjournals.com/cincinnati/news/2014/04/10/ge-to-lease-temporary-space-for-hundreds-of-jobs.html

 

That is good news for downtown in and of itself since it'll fill some vacant office space for the next couple of years. Also makes it seem like The Banks would be GE's preferred long term location.

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I really think this quote is promising for downtown from the above article:

 

 

 

 

"Allen and Roger Lobo, global project and quality leader at GE, said downtown Cincinnati has undergone a transformation in the past couple of years and will be able to attract a “great demographic.”

 

“It’s really about the demographic draw there,” Lobo said."

 

 

Source:  http://www.bizjournals.com/cincinnati/news/2014/04/10/ge-to-lease-temporary-space-for-hundreds-of-jobs.html

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GE to lease temporary space for hundreds of jobs in downtown Cincinnati

Tom Demeropolis - Cincinnati Business Courier

http://www.bizjournals.com/cincinnati/news/2014/04/10/ge-to-lease-temporary-space-for-hundreds-of-jobs.html

 

That is good news for downtown in and of itself since it'll fill some vacant office space for the next couple of years. Also makes it seem like The Banks would be GE's preferred long term location.

 

Playing devils advocate, it could also be a test run to see how they like working downtown, which could be good or bad.

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Yes, a couple of those quotes in the business courier article are promising.... if they want to recruit people to work downtown at their temporary location, then it would only make sense to put the permanent building a few blocks away..

 

Also they said they want a high profile place in the city with ample parking... the banks provides all of these attributes.  thousands of parking spots directly beneath their building and within a very short distance to streetcar line.

 

It all just seems to fit together so well.  I will be satisfied with oakley, but downtown would be hitting the jackpot out of nowhere.

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GE to lease temporary space for hundreds of jobs in downtown Cincinnati

Tom Demeropolis - Cincinnati Business Courier

http://www.bizjournals.com/cincinnati/news/2014/04/10/ge-to-lease-temporary-space-for-hundreds-of-jobs.html

 

That is good news for downtown in and of itself since it'll fill some vacant office space for the next couple of years. Also makes it seem like The Banks would be GE's preferred long term location.

 

Playing devils advocate, it could also be a test run to see how they like working downtown, which could be good or bad.

 

But they are expected to make an announcement in about 90 days according to the article. Definitely not enough time for a test run with feedback about employees' experiences.

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Yes, a couple of those quotes in the business courier article are promising.... if they want to recruit people to work downtown at their temporary location, then it would only make sense to put the permanent building a few blocks away..

 

Also they said they want a high profile place in the city with ample parking... the banks provides all of these attributes.  thousands of parking spots directly beneath their building and within a very short distance to streetcar line.

 

It all just seems to fit together so well.  I will be satisfied with oakley, but downtown would be hitting the jackpot out of nowhere.

 

Also, why not have a temp location in the burbs before deciding on a perm location. Office space is cheaper out there anyway.  On top of that, placing the temp location downtown will get the workers accustomed to paying parking, etc. which would be a bit of a shock if it were moving from the burbs to city. My bet is that the perm location is the banks.

 

 

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GE to lease temporary space for hundreds of jobs in downtown Cincinnati

Tom Demeropolis - Cincinnati Business Courier

http://www.bizjournals.com/cincinnati/news/2014/04/10/ge-to-lease-temporary-space-for-hundreds-of-jobs.html

 

That is good news for downtown in and of itself since it'll fill some vacant office space for the next couple of years. Also makes it seem like The Banks would be GE's preferred long term location.

 

Playing devils advocate, it could also be a test run to see how they like working downtown, which could be good or bad.

 

But they are expected to make an announcement in about 90 days according to the article. Definitely not enough time for a test run with feedback about employees' experiences.

 

Good point.

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Depends when this interview was done, but he mentions sites throughout greater Cincinnati, which is different than downtown or Oakley.  The temp space downtown and "a high profile space" is very telling though IMO.

 

 

Meet Joe Allen, the man who will run GE's huge new Cincinnati operation

Rob Daumeyer Editor- Cincinnati Business Courier

 

 

Joe Allen will run General Electric’s new U.S. Global Operations Center, based in Cincinnati.  Allen is already in town, having worked for the past six years in Evendale as chief financial officer for GE Aviation’s supply chain operations. I spoke to Allen by phone from Columbus, where he was at the Ohio Statehouse for the joint announcement with the state’s JobsOhio initiative.

 

Q: How many jobs are we talking about?

 

A: There will be 1,400 jobs that will be new to the state of Ohio. When it’s all said and done, we’ll have between 1,500 and 2,000 jobs here. We’ll start in Atrium II until we pick a permanent space.

 

Q: Where will this new facility go? What kind of space are you looking for?

 

A: We’re looking at a number of competitive packages from all around Greater Cincinnati. Hamilton County and the surrounding counties are all in play. We want to be in the kind of location that will help attract people to General Electric. We absolutely want it to be a high-profile space ... with ample parking. These are backbone jobs. And we need to be able to scale up in one location.

 

http://www.bizjournals.com/cincinnati/news/2014/04/10/meet-joe-allen-the-man-who-will-run-ges-huge-new.html

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Poured concrete on northern side of 2nd Street are complete in between Main and Walnut. I hope they plant some trees and flowers in the dirt area between the sidewalk and the wall.

 

What is up with the wood utility pole seen in this pic? Also one at the Main St. intersection. Unusual for downtown...


"It's just fate, as usual, keeping its bargain and screwing us in the fine print..." - John Crichton

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Looks like Kaisch may have sealed his re-election with this news.

 

For Cincinnati/SW Ohio?  Remember, there are still 8.5 million people elsewhere in the state not even close to Cincy.

 

Here's to hoping The Banks gets a new tenant!

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