Cool News (Birmingham, Mobile, Tuscaloosa: townhome, deposits, wealthy)

[bhamblazer]

Yeah that is still a concern. It looks like they're focused on doing targeted acquisitions in specific markets (construction loans for contractors, equipment financing, wealth management) rather than buying a rival bank. These acquisitions are nice and give them some growth opportunities, but I still think that eventually they'll have to either acquire another regional bank to become larger or be acquired.

[magiccity3]

Yeah I agree with both of you. At least this pushes them from being bought out down the road, I doubt they would be acquired in the middle of the process of acquiring another bank. I could see someone like Fifth Third Bank acquiring them as a way into the South.

[MinivanDriver]

I typically take The Comeback Town with a grain of salt, but this was a pretty amazing post.



Upshot? 35 JeffCo mayors have codified their previous agreement in principle to not poach businesses from one another and start working on ways to create economies of scale and greater value for the citizens of the county. Some of those efforts include consolidation of trash and recycling, ambulance services, 911, jails, and interstate lighting.



As someone who has lived in this burg almost 59 years, this is pretty jaw-dropping stuff.



https://comebacktown.com/2021/06/08/...minor-miracle/

[bhamblazer]

That's awesome. It seems like it's being followed too. I don't recall in intra-metro incentives being given that didn't add headcount since this pledge was signed.

[OldBankhead]

I don't either, and to be adding names this far down the road is huge. I didn't expect it to last.

[TimCity2000]

i had wondered if this was a possibility. and, given the success of Shipt starting up here, was surprised he launched it in SF to begin with.

Shipt founder’s Landing relocating from California to Birmingham, bringing 816 jobs


Bill Smith’s newest creation is coming to Alabama.

Landing, the nationwide membership network of fully-furnished apartments, is relocating its headquarters from San Francisco to Birmingham.

The company also plans to create 816 new full-time jobs as it continues to grow in a time when housing is at a premium nationwide.

Gov. Kay Ivey announced the move this morning.

“This is great news for Birmingham and for the entire state because it shows that we have the workforce and capabilities needed by a cutting-edge company that is blazing new trails,” Ivey said.

Landing’s new headquarters will be located in downtown Birmingham at the John Hand Building. People interested in applying for jobs can visit the website.

Smith, the creator of Birmingham-based Shipt, founded Landing in late 2019 as a startup targeted at supplying housing needs for on-the-go professionals.

Since the COVID-19 pandemic began with the need for remote work, the company has seen exponential growth, surging from operating in nine cities a year ago to more than 80. Its seen 1,250% growth in a year’s time.

Landing offers a flexible membership leasing model for fully-furnished apartments. with on-call concierge service and housekeeping through an app.

For an annual membership fee of $199, Landing members can access fully-furnished one and two-bedroom apartments in urban centers, without strict leases, security deposits, utility set-ups or furniture moving. It offers more than 10,000 available apartments nationwide.

Birmingham Business Alliance CEO Ron Kitchens said the move “will undoubtedly be one of the largest headquarter relocations in the nation this year.”

Landing’s move is made possible by a partnership between the state, Jefferson County and the City of Birmingham. According to an announcement from Ivey’s offices, state officials committed funds through the Alabama Jobs Act and training services through AIDT, the state’s primary workforce development agency.

Pending approval by the Birmingham City Council, the City of Birmingham has committed funds through its Talent Investment Program (TIP), Talent Acceleration Program (TAP), and Talent Optimization Program (TOP) – programs aimed at professional skill development, hiring local talent, and attracting talent.

Jefferson County has committed funds tied to new job creation, pending approval by the county commission. Those totals were not disclosed in this morning’s announcement.

“As a Birmingham native, relocating our headquarters and expanding our Alabama team was a natural transition,” Smith said.

“I’m excited by the opportunity to continue to scale Landing and bring new jobs and economic opportunities to my community. As we continue to expand across the country, we’re committed to the vibrant cities we operate in and will strive to have a positive impact on all of Landing’s communities.”

An analysis by the Alabama Department of Commerce estimates Landing’s relocation and expansion project over 20 years will create a total new payroll of $1.3 billion, bringing in $112 million in state revenue and a 356% return on investment to the state.

Birmingham Mayor Randall Woodfin said Landing’s arrival “couldn’t come at a better time.”

“As our city continues to rebound from the COVID-19 pandemic, the new jobs and revenue Landing will bring to our community will be a boost to our recovery efforts,” he said.

“The financial incentive we offer, pending the City Council’s approval, will help to hire and train our citizens for the more than 800 new jobs, and the revenue generated by the project will provide funding for city schools and infrastructure.”

Jefferson County Commissioner Steve Ammons, Chairman of the County Commission’s Economic Development Committee, said the move is an “example of how we are working together toward common goals and improving the access to quality jobs at an above-average wage.”

[MinivanDriver]

Originally Posted by TimCity2000

i had wondered if this was a possibility. and, given the success of Shipt starting up here, was surprised he launched it in SF to begin with.

Shipt founder’s Landing relocating from California to Birmingham, bringing 816 jobs


Bill Smith’s newest creation is coming to Alabama.

Landing, the nationwide membership network of fully-furnished apartments, is relocating its headquarters from San Francisco to Birmingham.

The company also plans to create 816 new full-time jobs as it continues to grow in a time when housing is at a premium nationwide.

Gov. Kay Ivey announced the move this morning.

“This is great news for Birmingham and for the entire state because it shows that we have the workforce and capabilities needed by a cutting-edge company that is blazing new trails,” Ivey said.

Landing’s new headquarters will be located in downtown Birmingham at the John Hand Building. People interested in applying for jobs can visit the website.

Smith, the creator of Birmingham-based Shipt, founded Landing in late 2019 as a startup targeted at supplying housing needs for on-the-go professionals.

Since the COVID-19 pandemic began with the need for remote work, the company has seen exponential growth, surging from operating in nine cities a year ago to more than 80. Its seen 1,250% growth in a year’s time.

Landing offers a flexible membership leasing model for fully-furnished apartments. with on-call concierge service and housekeeping through an app.

For an annual membership fee of $199, Landing members can access fully-furnished one and two-bedroom apartments in urban centers, without strict leases, security deposits, utility set-ups or furniture moving. It offers more than 10,000 available apartments nationwide.

Birmingham Business Alliance CEO Ron Kitchens said the move “will undoubtedly be one of the largest headquarter relocations in the nation this year.”

Landing’s move is made possible by a partnership between the state, Jefferson County and the City of Birmingham. According to an announcement from Ivey’s offices, state officials committed funds through the Alabama Jobs Act and training services through AIDT, the state’s primary workforce development agency.

Pending approval by the Birmingham City Council, the City of Birmingham has committed funds through its Talent Investment Program (TIP), Talent Acceleration Program (TAP), and Talent Optimization Program (TOP) – programs aimed at professional skill development, hiring local talent, and attracting talent.

Jefferson County has committed funds tied to new job creation, pending approval by the county commission. Those totals were not disclosed in this morning’s announcement.

“As a Birmingham native, relocating our headquarters and expanding our Alabama team was a natural transition,” Smith said.

“I’m excited by the opportunity to continue to scale Landing and bring new jobs and economic opportunities to my community. As we continue to expand across the country, we’re committed to the vibrant cities we operate in and will strive to have a positive impact on all of Landing’s communities.”

An analysis by the Alabama Department of Commerce estimates Landing’s relocation and expansion project over 20 years will create a total new payroll of $1.3 billion, bringing in $112 million in state revenue and a 356% return on investment to the state.

Birmingham Mayor Randall Woodfin said Landing’s arrival “couldn’t come at a better time.”

“As our city continues to rebound from the COVID-19 pandemic, the new jobs and revenue Landing will bring to our community will be a boost to our recovery efforts,” he said.

“The financial incentive we offer, pending the City Council’s approval, will help to hire and train our citizens for the more than 800 new jobs, and the revenue generated by the project will provide funding for city schools and infrastructure.”

Jefferson County Commissioner Steve Ammons, Chairman of the County Commission’s Economic Development Committee, said the move is an “example of how we are working together toward common goals and improving the access to quality jobs at an above-average wage.”

He never really left Birmingham (For example, he owns controlling interest in the John Hand Building), but I'd heard whispers that he thought CA wasn't all that it was cut out to be.

[magiccity3]

Originally Posted by MinivanDriver

He never really left Birmingham (For example, he owns controlling interest in the John Hand Building), but I'd heard whispers that he thought CA wasn't all that it was cut out to be.

He probably realized that he could be based here for cheaper and still get all the employees he wants here / through remote work. Doesn't hurt that he has a plane and can still be almost wherever he wants whenever he wants.

[bhamblazer]

Big time. I thought it was odd he didn't start it here to begin with, but they've had an office here all along with about 50 people or so. Maybe he wanted easier access to VC funding in the Bay Area. They raised $30M in a series A round last year and an additional $100M in January of this year in a series B (plus Smith put in $15M of his own money). So they now have a nice bank roll to fuel their growth.

Regardless, that's a big win for Birmingham. This will make national business headlines and be another thing that shines a light on our tech ecosystem. Plus it brings exactly the type of growth we've been saying Birmingham needs more of: 800+ office HQ jobs downtown. Should help continue filling up all those apartments.

[bhamblazer]

Bill Smith is still pretty young. Given his success at Shipt and now Landing, I wonder if he might be in a position to eventually become a Daddy Warbucks type person for Birmingham. Most big cities have at least one very wealthy person that brings their financial weight to bear for the city's benefit. Things like buying a pro sports franchise and moving them here, donating huge sums of money to arts/culture institutions, etc. He seems passionate about Birmingham and seeing it grow. We already have that to a degree via Raymond Harbert, but could always use more.