Wonder how long it will remain "New Era Field"?

[\GoBillsInDallas/]

New Era closing Buffalo plant, moving production to Florida:

 

http://buffalonews.com/2018/11/13/new-era-plans-closure-of-derby-manufacturing-plant-in-march-2019/

 

 

[YoloinOhio]

The Buffalo HQ is not affected. So I doubt it will have impact on stadium name.

It’s just the Derby site that is moving. 

[KD in CA]

That sucks.  I was on the plant floor when they announced the Smith Corona factory in Cortland was closing (long time ago).  It's a really ***** event to witness.

[Irv]

Thanks Cuomo!  I'm still scratching my head on why New Era would bother being a sponsor.  Unlike shoe and clothing companies I have never bought a hat based on the brand.  If it was a Stetson - maybe.  But these are baseball hats.  I couldn't tell one brand name on mine. 

[gjv001]

Not good for WNY.. Was there any warning of the plant moving? Any negotiations?

[fansince88]

1 hour ago, gjv001 said:

Not good for WNY.. Was there any warning of the plant moving? Any negotiations?

Yes. Election day. Businesses cant afford to do business in NYS 

[PromoTheRobot]

Just now, fansince88 said:

Yes. Election day. Businesses cant afford to do business in NYS 

 

So why did Amazon locate their HQ2 in NYC?

[Pine Barrens Mafia]

1 minute ago, PromoTheRobot said:

 

So why did Amazon locate their HQ2 in NYC?

 

An excellent question. Bezos must have learned NOTHING from HQ1 being in Seattle.

 

[Lurker]

1 hour ago, Irv said:

Thanks Cuomo! 

 

This has nothing to do with Cuomo or NYS.   

 

New Era is no longer a manufacturer.   Full stop.    They are a design and branding house.    Having a token production facility in Derby became irrelevant once they passed $500 million in revenue, on their way to a billion...

[fansince88]

7 minutes ago, PromoTheRobot said:

 

So why did Amazon locate their HQ2 in NYC?

 

5 minutes ago, joesixpack said:

 

An excellent question. Bezos must have learned NOTHING from HQ1 being in Seattle.

 

Oh, just this.

Incentives from New York state: $1.525 billion, including:

• $1.2 billion in refundable tax credits from state’s Excelsior Program over 10 years, based on the creation of 25,000 jobs that pay an average of $150,000.
• $325 million from Empire State Development based on how much space Amazon takes over the next decade.

• Incentives from New York City:

• Amazon said it would apply for a New York City subsidy program that would provide it property-tax abatements for up to 25 years.
• The company also is to seek incentives under a city program that could provide $3,000 in tax credits per eligible employee over 12 years, implying a $900 million benefit if all 25,000 workers are eligible. Amazon may also be eligible for other tax credits.

[Pine Barrens Mafia]

Just now, fansince88 said:

 

Oh, just this.

Incentives from New York state: $1.525 billion, including:

• $1.2 billion in refundable tax credits from state’s Excelsior Program over 10 years, based on the creation of 25,000 jobs that pay an average of $150,000.
• $325 million from Empire State Development based on how much space Amazon takes over the next decade.

• Incentives from New York City:

• Amazon said it would apply for a New York City subsidy program that would provide it property-tax abatements for up to 25 years.
• The company also is to seek incentives under a city program that could provide $3,000 in tax credits per eligible employee over 12 years, implying a $900 million benefit if all 25,000 workers are eligible. Amazon may also be eligible for other tax credits.

 

And when an ocasio-loonez pops up like's happened in Seattle and calls for a head tax because Amazon is "stealing money from the poor?"

 

[dave mcbride]

11 minutes ago, fansince88 said:

Yes. Election day. Businesses cant afford to do business in NYS 

You should read the story before making claims like this.

[jimmy10]

3 minutes ago, Lurker said:

 

This has nothing to do with Cuomo or NYS.   

 

New Era is no longer a manufacturer.   Full stop.    They are a design and branding house.    Having a token production facility in Derby became irrelevant once they passed $500 million in revenue, on their way to a billion...

 

Ain't nobody got time for that ivory tower nuance! Now excuse me, I'm off to buy ALL the  GUN-UC-GUN CUOMO stickers. 

[Lurker]

6 minutes ago, fansince88 said:

 

Oh, just this.

Incentives from New York state: $1.525 billion, including:

• $1.2 billion in refundable tax credits from state’s Excelsior Program over 10 years, based on the creation of 25,000 jobs that pay an average of $150,000.
• $325 million from Empire State Development based on how much space Amazon takes over the next decade.

• Incentives from New York City:

• Amazon said it would apply for a New York City subsidy program that would provide it property-tax abatements for up to 25 years.
• The company also is to seek incentives under a city program that could provide $3,000 in tax credits per eligible employee over 12 years, implying a $900 million benefit if all 25,000 workers are eligible. Amazon may also be eligible for other tax credits.

 

Nope.   $1.5 billion over ten years is equivalent to a five minute squat in the Amazon executive washroom.   

 

NYC has the talent pool needed to add 25,000 jobs from.   That's invaluable to a trillion dollar company.     $1.5 billion in tax credits?    Not so much... 

 

 

 

4 minutes ago, dave mcbride said:

You should read the story before making claims like this.

 

Much better to never read or know anything.   It always makes your initial gut reaction be right!...

 

Edited November 13, 2018 by Lurker

[fansince88]

4 minutes ago, dave mcbride said:

You should read the story before making claims like this.

Touched a nerve I see?

[Augie]

7 minutes ago, fansince88 said:

 

Oh, just this.

Incentives from New York state: $1.525 billion, including:

• $1.2 billion in refundable tax credits from state’s Excelsior Program over 10 years, based on the creation of 25,000 jobs that pay an average of $150,000.
• $325 million from Empire State Development based on how much space Amazon takes over the next decade.

• Incentives from New York City:

• Amazon said it would apply for a New York City subsidy program that would provide it property-tax abatements for up to 25 years.
• The company also is to seek incentives under a city program that could provide $3,000 in tax credits per eligible employee over 12 years, implying a $900 million benefit if all 25,000 workers are eligible. Amazon may also be eligible for other tax credits.

 

I’m good with Atlanta not outbidding THAT. 

[dave mcbride]

9 minutes ago, fansince88 said:

Touched a nerve I see?

No. I simply inferred that your post indicated that you hadn't actually read the piece, which focuses on manufacturing process mismatches. NYS's unemployment rate is 4.1 percent right now (NYC's is 4.0), which is roughly average for the country. 

Edited November 13, 2018 by dave mcbride

[fansince88]

4 minutes ago, dave mcbride said:

No. I simply inferred that your post indicated that you hadn't actually read the piece. NYS's unemployment rate is 4.1 percent right now (NYC's is 4.0), which is roughly average for the country. 

1)Unemployment rate has nothing to do with business moving out. People are too. NYS is #2 in the nation people are leaving.

2) Your assumption was incorrect. 

Edited November 13, 2018 by fansince88

[dave mcbride]

Just now, fansince88 said:

1)Unemployment rate has nothing to do with business moving out. People are too.

2) Your assumption was incorrect. 

NY is doing pretty well, driven largely by high-tax NYC, which generated roughly 3/4 of a million new jobs in the last 12 months. So I don't really understand your point. 

As for why the Derby plant is closing, New Era has a new business model that focuses more on branding and isn't tied to hats. It wants a manufacturing facility that can handle that. Derby ain't it. There is also the union issue, although New Era (somewhat implausibly) denies it played a role. 

[OldTimeAFLGuy]

2 hours ago, YoloinOhio said:

The Buffalo HQ is not affected. So I doubt it will have impact on stadium name.

It’s just the Derby site that is moving. 

 

 

...Koch/New Era has right of first refusal on naming rights for a new stadium.......increased cost though as expected.....