A Virginia-based railway company looks to make Georgia its headquarters as part of their plan to consolidate business operations.
Last week, the Atlanta City Council approved an agreement with the railway giant to move it’s headquarters after the company threatened to take it’s business elsewhere if the council did not make a vote.
The $575 million building to house the company is slated to be located near Ponce de Leon Avenue and West Peachtree Street in Midtown. The new office building is expected to be 750,000 square feet of space and bring 850 jobs to Georgia in addition to the current 2,000 employees are ready in Atlanta. The site could also include a daycare center for their employees.
According to Invest Atlanta, the city’s economic development agency, said the new headquarters could bring an economic impact of $811 million and bring along with it a $600 lease purchase bond.
Norfolk Southern’s decision to move to Georgia has not gone without a fight. The Mayor of Norfolk, VA, Kenny Alexander, has tried to persuade the railway giant to keep their headquarters in Norfolk. The Mayor of Norfolk said at the time that Virginia’s schools, healthcare, and educational assessments are better than Georgia’s.
The Atlanta City Council approved a $2 billion public financing package to the developer group CIM to develop “the Gulch” property in Midtown. Norfolk Southern owns land near “the Gulch” property.
The goal of Norfolk Southern is to consolidate their operations with the land they already have near the “the Gulch” Midtown site. Norfolk Southern is expected to close on the nearby “Gulch” property at the first part of 2019. Executives of Norfolk Southern have said to local news outlets that other concerns must be finalized before a final decision is made.
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