Has anyone heard rumors about going back to Texas in 2021?
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Hans supposedly made a mention of previously being in TX so there might be some truth to this rumor. I also wonder how long Verizon leased back the Basking Ridge space after selling it a few years ago?
I wonder if and how long Verizon is obligated to stay in NJ doe to the tax incentives VZ was given? TX would be a lot cheaper to live in vs, NJ.
@VQtWizj-1afi. Correction. BR has been chopped up and open floor plan with an expanded parking to make it easier to sell or rent to multiple companies. All of the ties to AT&T, NYNEX, and Bell Atlantic have been severed. HQ is in New York City and there is no reason to have anything HQ related to any high cost, high tax states. A move would not surprise me, only after they have trimmed the populations that will be moving, which will again trim the population.
New regime, anything is possible. Technically, VZ HQ is in NY, not NJ. In either case, if VZ wants to shed itself of direct ties wireline and reduce its tax burden, moving to TX makes sense. Companies of late are doing the same; CT is a high tax state and are loosing corp HQs for that reason.
Besides the fact that money has been spent on upgrades to BR, it isn't the easist building to get too.
VZ is build a huge complex in Texas, the nations telecommunications center, and will eventually be moving it's headquarters and back office operations to Texas.
vz consistently pulling out of high tax, non-RTW states. Las Colinas TX is where GTE went to VZ. Logical move. TX has low corporate tax rates.
Another Offer soon after the first offer? Hmmm, that doesn't sound likely.
Why did they recently start that hotel if they plan to close it?
The rumors of moving HQ to TX have been circulating for years. I first heard about it during the last strike. Don't know if it's reality or just hogwash.
If the company could afford it they should offer this enhanced package every couple of years but let you choose from several exit dates. They would get more volunteers. At some point they would have to put some structure around it. If they would show more flexibility they would get more takers.
doubt this would EVER happen
Yup . Rumor going around is shutting down basking ridge but not sure it was 2021 . Also heard another offer going out soon .