U.S. Bank moving 1,600 St. Paul jobs ...

U.S. Bank moving 1,600 St. Paul jobs to Richfield

There are 21 comments on the TwinCities.com story from Feb 26, 2010, titled U.S. Bank moving 1,600 St. Paul jobs to Richfield. In it, TwinCities.com reports that:

For St. Paul, luring jobs to the city has been a slow process - a couple of dozen here and there.

Join the discussion below, or Read more at TwinCities.com.

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Debbi

Saint Paul, MN

#1 Feb 26, 2010
Who can blame them from moving to where business is welcomed. I hope all those folks who say St Paul in NOT anti business are reading.
Tax Payer

Minneapolis, MN

#2 Feb 26, 2010
Another business fleeing St. Paul. Can you say Detroit?
oakman

Saint Paul, MN

#3 Feb 26, 2010
well at least they are staying in minnesota and there should not be many people with out jobs
Bob the Bilderberg

Saint Paul, MN

#4 Feb 26, 2010
The people in city hall are happy today because now they can use that space for more government bureaucrats.
Comments

Saint Paul, MN

#5 Feb 26, 2010
oakman wrote:
well at least they are staying in minnesota and there should not be many people with out jobs
Explain that to the operators of the grocery stores, convenience stores, auto repair shops, florists, dry cleaners, restaurants on the west end who now have 1600 less people with money to spend passing by their businesses on a daily basis. Now compare Payne Ave and Arcade Street 'pre' and 'post' Whirlpool and 3M... you'll get a glimpse of the new W 7t St. And now none of those 1600 have even less reason to want to buy a house in that neighborhood.(Me thinks 'oakman' works on the mayor's staff- given his understanding of commerce.)
Demguy

Plymouth, MN

#6 Feb 26, 2010
Who would want to buy a house in St.Paul.That would mean your children would attend a St.Paul school. That's the very reason I left the city.
Arthur Carlson WKRP

Saint Paul, MN

#7 Feb 26, 2010
Bob the Bilderberg wrote:
The people in city hall are happy today because now they can use that space for more government bureaucrats.
Yep, the vultures are still circling the Ford plant. Real bummer that sales have picked up and people are still employed there.
too bad

Minneapolis, MN

#8 Feb 26, 2010
I worked in that building for 4 years and mostly enjoyed it. The parking lot sucked but being right across the street from a great network of walking paths along the river was a huge plus for me. The building had showers too, not something you see too often. Those of us who enjoyed a noon time run really appreciated that.
Runner

Saint Paul, MN

#9 Feb 26, 2010
too bad wrote:
I worked in that building for 4 years and mostly enjoyed it. The parking lot sucked but being right across the street from a great network of walking paths along the river was a huge plus for me. The building had showers too, not something you see too often. Those of us who enjoyed a noon time run really appreciated that.
I agree, get in a nooner and be able to take a shower. Hard to find that.
Property taxes

AOL

#10 Feb 26, 2010
The article didn't discuss the impact of property taxes on this decision and I would like to see some discussion of that. St. Paul just keeps jacking up property taxes time after time with no regard for business retention. It's not 'free money' anymore, businesses seek out the best deal and St. Paul just doesn't cut it.
Read the article

Saint Paul, MN

#11 Feb 26, 2010
Not one of the previous posters seems to have actually read through the article.

"I think that it reflects the current market conditions," said the Shepard Road building's owner, Jerry Trooien of JLT Group in St. Paul. "They could get an incredible 'A' property for way below market price, including their sign on the No. 1 intersection in the Twin Cities."

This isn't about property taxes or being chased out by city hall, it is simply a matter of a company seeing the opportunity to save some money through buying instead of leasing, finding a bargain property and buying it.
Win Twins

Saint Paul, MN

#12 Feb 26, 2010
Read the article wrote:
...to save some money through buying instead of leasing, finding a bargain property and buying it.
Ummm. US Bank is LEASING at the new location. While I agree with your general comment that they are getting better property for less, they are not buying the property.

In your defense, to find that out I did have to read the StarTribune.com article since this writer did a bang up job on it...
Willl the last one out

Delano, MN

#13 Feb 26, 2010
please turn off the lights!!

Leasing the new building, they are getting ready to leave the brainpower state.

A buck is a buck..
Arthur Carlson WKRP

Saint Paul, MN

#14 Feb 26, 2010
Read the article wrote:
Not one of the previous posters seems to have actually read through the article.
"I think that it reflects the current market conditions," said the Shepard Road building's owner, Jerry Trooien of JLT Group in St. Paul. "They could get an incredible 'A' property for way below market price, including their sign on the No. 1 intersection in the Twin Cities."
This isn't about property taxes or being chased out by city hall, it is simply a matter of a company seeing the opportunity to save some money through buying instead of leasing, finding a bargain property and buying it.
JLT who tries to do business in St Paul- by both leasing to the government, and development( the shot-down Bridges project), will be among the last to badmouth the current city government's handling of commerce issues, no matter how obvious they might be to most people.

And I agree:READ THE ARTICLE- they (the bank) will be renting, not "...seeing the opportunity to save some money through buying instead of leasing, finding a bargain property and buying it..."
Joe Merlot

United States

#15 Feb 26, 2010
Read the article wrote:
Not one of the previous posters seems to have actually read through the article.
"I think that it reflects the current market conditions," said the Shepard Road building's owner, Jerry Trooien of JLT Group in St. Paul. "They could get an incredible 'A' property for way below market price, including their sign on the No. 1 intersection in the Twin Cities."
This isn't about property taxes or being chased out by city hall, it is simply a matter of a company seeing the opportunity to save some money through buying instead of leasing, finding a bargain property and buying it.
Agreed, US Bank left primarily as a result of market conditions vs leaving because of property taxes. That said, why is it that they couldn't find an A property below market value in St Paul. There is a significant vacancy rate in St Paul and this move will absolutely represent a hardship to the employee's as most are probably commuting from reasonably close to the STP location and will now have a significantly extended commute. Although I agree that the market opportunities was likely the trigger that caused US Bank to look, I think it's niave to think that the tax liability didn' play into the ultimate decision of where they went to. I've made the point many times that businesses rarely move as a result of tax liability, however, when the need/opprtunities comes into play tax liability is absolutly a decision point in the ultimate destination which is why it is bad policy for a local government to be unconcerned about their competativeness in that regard.
Kay

United States

#16 Feb 26, 2010
too bad wrote:
I worked in that building for 4 years and mostly enjoyed it. The parking lot sucked but being right across the street from a great network of walking paths along the river was a huge plus for me. The building had showers too, not something you see too often. Those of us who enjoyed a noon time run really appreciated that.
Sorry, but if you don't see showers too often, you either aren't looking or haven't been in many large corporate buildings. They often have showers to go along with their exercise room, something Riverbank does not have. Three large companies I have worked for (but none as large as US Bank) have all had MUCH better facilities than Riverbank.
I didn't mind it when I worked there myself, but you can't say it compares well to other corporate facilities. Of course it is a thousand times better than one of USB's other large St. Paul buildings in Energy Park, but that's another story...
Good riddance

Saint Paul, MN

#17 Feb 27, 2010
The "Riverbank" property is a rundown dump. They took an employee survey and the survey responses were overwhelmingly in agreement. I ought to know. I have worked there. That place is ready for the wrecking ball as soon as US Bank leaves. It's a rundown dump without adequate parking and one pathetic bus route that absolutely NO ONE rides there. I don't why the stupid Metro Transit even bothered running a bus down to that dump. Another waste of taxpayer money.
Colt

Saint Paul, MN

#18 Mar 1, 2010
Good riddance wrote:
The "Riverbank" property is a rundown dump. They took an employee survey and the survey responses were overwhelmingly in agreement. I ought to know. I have worked there. That place is ready for the wrecking ball as soon as US Bank leaves. It's a rundown dump without adequate parking and one pathetic bus route that absolutely NO ONE rides there. I don't why the stupid Metro Transit even bothered running a bus down to that dump. Another waste of taxpayer money.
Like most US Bank facilities, it was nice and new at one time, but eventually USB stops caring and lets once-nice buildings fester away.
Priorities

Minneapolis, MN

#19 Mar 1, 2010
Banks ar ONLY interested in $$$$$$.

If ANYTHING cost $$$$ to fix they find something cheaper!!

Long term that is what will happen to the USA with Banks in control!
Really

Minneapolis, MN

#20 Mar 9, 2010
Neither Colt nor Priorities read the article. US Bank does not own that property, JLT Properties did. They had nothing to do with the condition of the building. That is up to the property owner. The Riverbank building is a dump and parking, since the long term airport parking ramp was built, is a nightmare. This is simply US Bank taking advantage of an opportunity, and listening to their employee's complaints.

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