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PostJun 14, 2023#201

quincunx wrote: ↑
Jun 12, 2023
Will they catch flack over high rents in Clayton?
Seems they're actually getting praise for it... 

STL Biz Journal: Emerson's headquarters move highlights Clayton's strength, continued 'flight to quality'

“The move to a new location is part of that redefinition of the company and rebranding of the company, so I think it makes perfect sense,” Katz said. “And since they are focused on state-of-the-art automation and electronics, the fact that they picked a building for their headquarters that is literally state-of-the-art electronics and automation is consistent with the brand image that they want to convey.”
"Katz" is Prof. Jerome Katz, Department of Management, Saint Louis University. 
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PostJun 14, 2023#202

MRNHS wrote: ↑
Jun 14, 2023
 *much analysis and math* . . .

They would be almost $1M better off downtown, all else equal.  Or put another way, they would have to have an average wage of $364,000 on their 400 employees to make it a "wash".  OR, you could could spend $33.46/sqft downtown and make it a "wash".
While I have no problem with Emerson moving to Clayton I do like the math you're doing here and I think that's an interesting analysis. Are any of our downtown boosters carrying this sort of math in to the meetings where they pitch relocation? (Or try and talk AT&T out of their latest insanity.) Not sure how much good it would really do. Maybe corporate execs are less concerned with money and math than a musician. But the idea is interesting.
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PostJun 14, 2023#203

symphonicpoet wrote: ↑
Jun 14, 2023
MRNHS wrote: ↑
Jun 14, 2023
 *much analysis and math* . . .

They would be almost $1M better off downtown, all else equal.  Or put another way, they would have to have an average wage of $364,000 on their 400 employees to make it a "wash".  OR, you could could spend $33.46/sqft downtown and make it a "wash".
While I have no problem with Emerson moving to Clayton I do like the math you're doing here and I think that's an interesting analysis. Are any of our downtown boosters carrying this sort of math in to the meetings where they pitch relocation? (Or try and talk AT&T out of their latest insanity.) Not sure how much good it would really do. Maybe corporate execs are less concerned with money and math than a musician. But the idea is interesting.
I mean, that was very basic math and I'm sure companies are smart enough to look at all costs when making a decision like this.  I bet there a whole heck of a lot more costs that I didn't factor in.  It was interesting here as we know how many employees are moving, the square footage they are taking and the rents "listed" at each building so even with a completely made up average salary number, we could at least see the differences.

All I was really saying is that the earnings tax argument isn't valid here.  At all.  Especially under the guise of being a good steward to shareholders.
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PostOct 28, 2024#204

https://www.stltoday.com/news/local/bus ... ffcd9.html
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PostOct 28, 2024#205

It’s behind the paywall but here is an interesting quote:

“But it’s not clear how many leaders have taken Karsanbhai’s op-ed to heart, nor if their work has been successful.

The region has not experienced significant growth in the number of jobs or employers”

At least half of the second sentence here is categorically false. The region had addded an enormous number of jobs since the op-ed.

The “St. Louis” sucks crowd lives in an echo chamber.
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PostOct 28, 2024#206

I’ve already sent an email to the journalist calling BS on that. It’s a lazy and now outdated take.
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PostOct 28, 2024#207

Kukuljian used the same tactics when she wrote for the BJ. It’s sad
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PostFeb 05, 2025#208

Emerson donated $2M each to GRG, FP Forever, and the Zoo. It'd also be great if they moved some of their other 69,600 here.

KMOV - Emerson moved into its new global headquarters in Clayton on Tuesday.

https://www.firstalert4.com/2025/02/04/ ... s-clayton/
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PostFeb 07, 2025#209

So I am confused. I see that Emerson opened up their new "global HQ" in Clayton, but the Biz Journal is now saying in a "breaking news" article today that they are searching for a new HQ and keeping "a significant presence in STL". So are they moving their HQ out of STL or keeping it in Clayton? 
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PostFeb 07, 2025#210

DogtownBnR wrote:So I am confused. I see that Emerson opened up their new "global HQ" in Clayton, but the Biz Journal is now saying in a "breaking news" article today that they are searching for a new HQ and keeping "a significant presence in STL". So are they moving their HQ out of STL or keeping it in Clayton? 
Copeland, their Climate Tech Division that was spun off of Emerson and is now the owner of the Ferguson campus, is vacating that space and looking for a new HQ.
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PostFeb 07, 2025#211

Emerson spun off a company called Copeland. Copeland took over the NoCo campus when Emerson moved to Clayton. Now Copeland is also looking to move its HQ from the NoCo campus to another location in the region.

I’m sure their search will focus on DT given our business community’s deep concern for the core of our region.
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PostFeb 07, 2025#212

Thanks for the clarification! I knew about Copeland, but couldn’t read the full article behind the paywall.
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PostFeb 07, 2025#213

Honestly, the Ranken campus would be a great fit. If they wanted to make a difference, going to Vandeventer would be a huge show of support. I think that neighborhood is on the verge of a comeback.

Cortex or downtown would obviously be great too
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PostFeb 07, 2025#214

Cynicism aside, I hope the Cardinals and Cordish  are all over this but I doubt it. Lots of major firms have moved in the last 5 years, HB, Polsinelli, Emerson, Advantage Solutions, EY, Sandberg Phoenix, Fleishman Hilliard, Rawlings, Energizer, Build a Bear and the list goes on and the only name I’ve heard BPV in on is Thompson Coburn.
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PostFeb 07, 2025#215

^Yea we can’t seem to stop the bleeding out to Clayton

Not having some kind of deal in place for the Rawlings HQ and flagship store was really sad to me. That would have been an outstanding storefront for BPV. Seeing all the players and cardinals reps out at the westport plaza for the opening just made me really sad. How how how. I’m still hoping it will be on the table again.

I can understand Clayton beating downtown sometimes but Westport???? Beat downtown for Rawlings and World Wide Technologies and got its massive AHM project first…just ugh. Make me understand
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PostFeb 07, 2025#216

I just dont think they try very hard. BPV should have been fully built out by 2018. Here we are still waiting in 2025 and it’s only half done.
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PostFeb 07, 2025#217

delmar2debaliviere2downtown wrote: ↑
Feb 07, 2025
^Yea we can’t seem to stop the bleeding out to Clayton

Not having some kind of deal in place for the Rawlings HQ and flagship store was really sad to me. That would have been an outstanding storefront for BPV. Seeing all the players and cardinals reps out at the westport plaza for the opening just made me really sad. How how how. I’m still hoping it will be on the table again.

I can understand Clayton beating downtown sometimes but Westport???? Beat downtown for Rawlings and World Wide Technologies and got its massive AHM project first…just ugh. Make me understand
That was Rawlings and WWT making independent decisions. WWT never even looked downtown as far as I'm aware and Rawlings said that the BPV rent was too high.....so they chose a emesurably shittier location that no one really knows about and very few people will ever actually go.

Just find it tough to blame the Cardinals or Cordish for those.

PostFeb 07, 2025#218

We know there's plenty of cheap office space downtown. So naturally they will, in all likelihood, not look downtown.
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PostFeb 07, 2025#219

Auggie wrote: ↑
Feb 07, 2025
We know there's plenty of cheap office space downtown. So naturally they will, in all likelihood, not look downtown.
Right!? They owe it to their shareholders to overpay for a lease in Clayton. Honestly these guys have Outer 40 written all over them. Maybe even St. Charles.
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PostFeb 07, 2025#220

Emerson stayed in the inner ring, then put their name on the soccer Stadium, and no reason why we should expect Copeland to do different.  

I think they end up at Met or take Fleishman's old digs.   They are obviously downsizing, though I think the HQ hand off from Emerson and now claiming the campus is too large seems disingenuous, as people would have freaked at Emerson if they were abandoning it.  Now, an unrecognizable name is claiming their gorgeous (it is) campus is to large, allowing them to unload it without much fanfare.  Emerson got to offload the depreciation and maintenance to absorb their high rent digs in Clayton, and now Copeland will have a wash as they unload the property at very low market rates while also being able to transition to triple net lease life. 

Got a couple strategic thinkers at that group.  
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PostFeb 07, 2025#221

I would love to see it. I hope you’re right
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PostFeb 07, 2025#222

TheWayoftheArch_V2.0 wrote: ↑
Feb 07, 2025
Emerson stayed in the inner ring, then put their name on the soccer Stadium, and no reason why we should expect Copeland to do different.  

I think they end up at Met or take Fleishman's old digs.   They are obviously downsizing, though I think the HQ hand off from Emerson and now claiming the campus is too large seems disingenuous, as people would have freaked at Emerson if they were abandoning it.  Now, an unrecognizable name is claiming their gorgeous (it is) campus is to large, allowing them to unload it without much fanfare.  Emerson got to offload the depreciation and maintenance to absorb their high rent digs in Clayton, and now Copeland will have a wash as they unload the property at very low market rates while also being able to transition to triple net lease life. 

Got a couple strategic thinkers at that group.  
^Energizer, not Emerson
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PostFeb 07, 2025#223

Appreciate that, you are obviously correct on the stadium. 

Still, I have some modicum of belief that someone will start the positive trend for corporate downtown soon. 
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PostFeb 08, 2025#224

Shouldn’t it be Enterprise?
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PostFeb 08, 2025#225

TheWayoftheArch_V2.0 wrote: ↑
Feb 07, 2025
Appreciate that, you are obviously correct on the stadium. 

Still, I have some modicum of belief that someone will start the positive trend for corporate downtown soon. 
Though it's true that both Emerson and Energizer moved to Clayton as opposed to even further out. Which is a good thing.
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