Hello everyone,
The past 24 hours have led to a tidal wave of news.
In addition to the increasingly contentious process of reopening Delaware, we had two stories that at any other time would have led to big headlines.
First off, Amtrak, the passenger railroad owned by the federal government, bought the Renaissance Center a few blocks away from the train station in downtown Wilmington.
The railroad will relocate 200 employees in the building, a move that will fill up the remaining space.
The Renaissance Center, hemmed in by a location along King Street, struggled in a tough downtown office market, even with a convenient but low-visibility location next to the increasingly busy area along lower Market Street.
As leases expire, Amtrak may move more jobs to the site. The railroad is headquartered in Washington, D.C., but might could move some positions to a lower-cost area.
Under hard-nosed former airline executive Richard Anderson, Amtrak consolidated offices and other operations as a way to cut costs.
His successor William Flynn is continuing a focus on the bottom line. Up until the coronavirus crisis, Amtrak had been moving toward a break-even point on operations. No passenger railroad makes money, once capital costs (track, equipment, etc.) are considered.
Secondly, it was confirmed that Amazon will indeed build a new fulfillment center at the former General Motors Boxwood site west of Wilmington.
As you might remember, some people were upset about Amazon’s plans that included a $4.5 million grant from the state.
In today’s environment, it’s excellent news for the Delaware economy in terms of construction and full-time jobs.
Enjoy your day and check out the 14 (and counting) stories that have been posted in the past day or so on our website, delawarebusinessnow.com. – Doug Rainey, chief content officer.
