Author Topic: Intercontinental Exchange Inc. to expand in Brooklyn  (Read 6797 times)

Ken_FSU

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Re: Intercontinental Exchange Inc. to expand in Brooklyn
« Reply #15 on: December 18, 2024, 11:13:25 AM »
If they move everyone over from Brooklyn, I wonder who takes their current building there.  Would Fidelity National or FIS have an expansion need for it?  Recruit another big catch to locate here?

Residential conversion is Plan A, with a buyer potentially already lined up.

Really??

All I can say for sure is that what I've been hearing for months is:

1) ICE was planning to bring 500 corporate jobs to Jax for cheaper labor, and planned to ask for city incentives
2) ICE was relocating their headquarters from Brooklyn to Deerwood in the Merrill Lynch spot
3) The Brooklyn Black Knight building was being sold for residential conversion

First two parts seems to be tracking, so I feel pretty good that the third part wouldn't have been pulled from thin air.

There's also a potential not-so-great element to this whole thing (having nothing to do with downtown development or ICE specifically) that may tie in and explain some of the vagueness, but kinda hoping it ain't true and def something I'm not comfortable mentioning without more context or evidence.

All that said, really hoping none of it is true and ICE expands in Brooklyn or picks a spot in the urban area.
« Last Edit: December 18, 2024, 12:12:28 PM by Ken_FSU »

Jax_Developer

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Re: Intercontinental Exchange Inc. to expand in Brooklyn
« Reply #16 on: December 18, 2024, 11:45:40 AM »
If they move everyone over from Brooklyn, I wonder who takes their current building there.  Would Fidelity National or FIS have an expansion need for it?  Recruit another big catch to locate here?

Residential conversion is Plan A, with a buyer potentially already lined up.

Really??

All I can say for sure is that what I've been hearing for months is:

1) ICE was planning to bring 500 corporate jobs to Jax for cheaper labor, and planned to ask for city incentives
2) ICE was relocating their headquarters from Brooklyn to Deerwood in the Merrill Lynch spot
3) The Brooklyn Black Knight building was being sold for residential conversion

First two parts seems to be tracking, so I feel pretty good that the third part wouldn't have been pulled from thin air.

There's also a potential not-so-great element to this whole thing (having nothing to do with downtown development or ICE specifically) that may tie in and explain some of the vagueness, but kinda hoping it ain't true and def something I'm not comfortable mentioning without more context of evidence.

All that said, really hoping none of it is true and ICE expands in Brooklyn or picks a spot in the urban area.

I could really see all three steps happening. That building is kinda skinny, no clue what the inside looks like but that's an interesting thought. It tracks with the DIA's new approach to give incentives to office to residential conversions - so what you're saying makes a lot of sense. I'm not sure what other office buildings DT really have that as a feasible option. Not sure that building even makes sense in all honesty but would be interesting to see it play out.

We all know the suburb play is unfortunately very likely. Although, curious how this plays into things.

https://www.jaxdailyrecord.com/news/2024/feb/15/ice-upgrading-former-black-knight-hq/
« Last Edit: December 18, 2024, 11:47:45 AM by Jax_Developer »

Steve

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copperfiend

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Re: Intercontinental Exchange Inc. to expand in Brooklyn
« Reply #18 on: January 15, 2025, 09:43:53 AM »
I worked last year in the Merrill buildings on that campus. Great location but it was like a 90’s time warp inside. They need alot of work.

Ken_FSU

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Re: Intercontinental Exchange Inc. to expand in Brooklyn
« Reply #19 on: January 15, 2025, 01:27:52 PM »
Hot take: Deerwood is a prime location for businesses like ICE, free of the downtown challenges that necessitate subsidies. The city shouldn't be surrendering $16 million in property taxes (90% over the next 13 years) for any business to leave an area that needs investment for an area that does not. Would also argue that it goes against the spirit of the REV program (the Merrill campus is not net new, it's already there) and puts even more strain on an already stretched general fund to start getting in the business of handing out REV grants to local companies who want to move or upgrade their facilities within Jacksonville. That should be a normal cost of doing business, not passed on to the taxpayers.

Charles Hunter

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Re: Intercontinental Exchange Inc. to expand in Brooklyn
« Reply #20 on: January 15, 2025, 03:22:41 PM »
Ken_FSU, I agree completely, we shouldn't be subsidizing a move away from the Core.

I guess the counterargument will be, "They might have left Jacksonville completely."

Ken_FSU

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Re: Intercontinental Exchange Inc. to expand in Brooklyn
« Reply #21 on: January 15, 2025, 03:28:19 PM »
Ken_FSU, I agree completely, we shouldn't be subsidizing a move away from the Core.

I guess the counterargument will be, "They might have left Jacksonville completely."

We're an awesome, tax-advantageous market with a lot to offer, including reasonable skilled labor costs and relatively low cost of living & doing business.

If this keeps happening, I'd call their bluff and let the cards fall where they may.

Would rather let 1 or 2 walk than create the expectation that every large company headquartered here is going to get a handout when their leases run up.

Ken_FSU

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Re: Intercontinental Exchange Inc. to expand in Brooklyn
« Reply #22 on: January 22, 2025, 05:47:35 AM »
Speaking of Deerwood, sounds like a massive round of layoffs is hitting Florida Blue today.

Positive vibes that no one here is affected. 

Ken_FSU

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Re: Intercontinental Exchange Inc. to expand in Brooklyn
« Reply #23 on: January 22, 2025, 06:15:38 PM »
https://www.bizjournals.com/jacksonville/news/2025/01/22/florida-blue-guidewell-layoffs.html

Anyone hear a number?

I’ve heard 600+ in Jax.

Hoping that’s not true, feels like a VERY big number.