Polsinelli Shughart & J.P. Morgan

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Re: Polsinelli Shughart & J.P. Morgan

Post by KCPowercat »

JP Morgan moving to Sprint campus.  Thanks for building the empty monster Sprint. 

sucks.
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Re: Polsinelli Shughart & J.P. Morgan

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See, OneKC works.  It really works!
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Re: Polsinelli Shughart & J.P. Morgan

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"This project is a great example of the public and private sector teaming together to help maintain Overland Park?s reputation as the Midwest?s leading suburban business community," Lavern Squier, senior vice president for the Overland Park Chamber of Commerce said in a statement.
/facepalm
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Re: Polsinelli Shughart & J.P. Morgan

Post by ComandanteCero »

two out of the three locations they were looking at were in JOCO...  and their present location is suburban KC right on the state line.

As much it would have been awesome to pull a surprise move and go for urban digs, the writing was on the wall for that move.
KC Region is all part of the same animal regardless of state and county lines.
Think on the Regional scale.
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Re: Polsinelli Shughart & J.P. Morgan

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I'd love to hear what their lease rate is...I can't even imagine how low Sprint gave it to them just to get something out of it.
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Re: Polsinelli Shughart & J.P. Morgan

Post by dangerboy »

I think Sprint also has to keep a certain level of occupancy in the campus in order to meet their TIF agreements with the city of OP. So it's probably better for them to sublease very cheaply than to give back subsidies.
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Re: Polsinelli Shughart & J.P. Morgan

Post by Gretz »

The NPR blip I heard on the way home said something about 14 million and change in incentives for the move to the Kansas side.  Not sure from what level or levels of government that money comes from.  And so our tax break shrinks a little more.  They did note that expansion at whatever the big engineering tenant there is was expected to fill the vacated space.
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Re: Polsinelli Shughart & J.P. Morgan

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There is no fifth destination.
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Re: Polsinelli Shughart & J.P. Morgan

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?Missouri needs to step up its incentive programs,? said Jeff Kaczmarek, president and CEO of the Kansas City Economic Development Corp. ?We are in danger on the western frontier ? look at all the deals going across the river.?

Mayor Mark Funkhouser believes a major overhaul of the city?s development agencies also may be in order.

?It?s very disappointing news,? he said. ?We clearly have to improve our focus on business retention. Maybe we have to consider relooking at our entire process for economic development.?
it's depressing that what folks mean by "economic development" is essentially "tax incentives for existing businesses".  It's a no-win situation for local municipalities and tax-payers, no gain for the local regional economy, and an all-win situation for these businesses.

I don't think the Town Pavilion location was a serious alternative.  From the point of view of the business though, it makes sense to throw that in just for the heck of it.  How aggressive would the KS side authorities been if JPMorgan had come to them with only two locations, both in JOCO.  Why would they care about giving incentives then, when they know they'll get the company either way.  But throw in a Missouri site, and then the whole idiotic process gets reframed as "oh, but we have to give them money, cause we might just miss out" and the business gets phantom leverage from nothing.
?The drivers behind their decision were not the incentive package,? he said. ?We put together a strong package and Pam (Popp) felt it was equal to what they received at the Sprint campus.?
that pretty much sums it up.  JP Morgan gets the JOCO location they wanted in the first place, except with a nice tax incentive thrown in for absolutely no real reason (other than to give ec. development officials and other public officials a chance to pack themselves on the back for a job "well done").
Last edited by ComandanteCero on Wed Dec 16, 2009 9:13 am, edited 1 time in total.
KC Region is all part of the same animal regardless of state and county lines.
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Re: Polsinelli Shughart & J.P. Morgan

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Some things never change...
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Re: Polsinelli Shughart & J.P. Morgan

Post by knucklehead »

That is what makes Funkhouser's blather about cross state line cooperation so laughable. It has been clear for decades that the Kansas side has no intention of cooperating on any regional efforts. Hell the Kansas legislature doesn't even give lip service to regional cooperation anymore. 

Johnson county is the poster child for balkenization. Its existance is based on the strategy of affluent people using political boundaries to segregate themselves financially from the rest of the population, while free loading on the cultural and economic advantages of being in a large urban area. (if you don't think being in a large urban area has economic advantages, check out Salina).

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Re: Polsinelli Shughart & J.P. Morgan

Post by bobbyhawks »

So, is the old Polsinelli Shughart & Kilroy side of things still staying downtown?

In other news, a major accounting firm is moving from one office building downtown to another office building downtown, both within the loop.
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Re: Polsinelli Shughart & J.P. Morgan

Post by dangerboy »

bobbyhawks wrote: So, is the old Polsinelli Shughart & Kilroy side of things still staying downtown?
As stated earlier in this thread, the combined firm intends to consolidate into a single location and is currently deciding between Downtown and the Plaza.
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Re: Polsinelli Shughart & J.P. Morgan

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Well, if anyone is interested in about 5 or 6 floors of 12 Wyandotte Plaza, enjoy.
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Re: Polsinelli Shughart & J.P. Morgan

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knucklehead wrote: Johnson county is the poster child for balkenization. Its existance is based on the strategy of affluent people using political boundaries to segregate themselves financially from the rest of the population, while free loading on the cultural and economic advantages of being in a large urban area. (if you don't think being in a large urban area has economic advantages, check out Salina).
sad but true.

I honestly think the future of the entire metropolitan area is bleak as Johnson County quickly approaches a population of 3/4 million people.

When the largest, most affluent county in your entire metro area doesn't give a rip about the city in general, doesn't contribute a dime of public revenue to regional issues or assets, grows economically almost entirely at the expense of KCMO (rather than bringing in new jobs from outside the region) all while producing a general population that is not only intimidated by KCMO, but totally and completely lacks any respect or civic pride for KCMO (or the entire MO side) whatsoever you have problems that go way beyond your typical urban vs suburban situations you find in most metropolitan areas.
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Re: Polsinelli Shughart & J.P. Morgan

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GRID wrote: I honestly think the future of the entire metropolitan area is bleak as Johnson County quickly approaches a population of 3/4 million people.
hmm...  It's going to take JoCo 20 years to reach 750,000. Johnson is adding 10,000 per year but is way back at 534,000.

And these are all pre-recession numbers that don't reflect the fact that new home permits have almost stopped in Johnson and Jackson and continue in big numbers in Clay.  It's very likely that Clay will be positioned for a huge boom in the recovery, and jobs will eventually follow rooftops.
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Re: Polsinelli Shughart & J.P. Morgan

Post by KCMax »

I don't know why anyone would be surprised at this. Its silly to think Johnson County is going to let KCMO have these jobs out of the goodness of their own heart, or vice versa.
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Re: Polsinelli Shughart & J.P. Morgan

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these econ-dev agencies are lazy.  Quit picking off jobs already in the metro and attempt to bring real growth with outside jobs, not simply pad your numbers and waste taxpayer money....and then put out press releases about how great you are.
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Re: Polsinelli Shughart & J.P. Morgan

Post by droopy »

Mayor Mark Funkhouser believes a major overhaul of the city?s development agencies also may be in order.

?It?s very disappointing news,? he said. ?We clearly have to improve our focus on business retention. Maybe we have to consider relooking at our entire process for economic development.?
I heard this quote on NPR this morning, I think.  "Maybe we have to consider relooking".....way to take the bull by the horns there Funk.
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Re: Polsinelli Shughart & J.P. Morgan

Post by KCPowercat »

to be fair he's focused on screwing up basic services to have this on his plate as well.
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