Not sure if anyone noticed Avaya’s HQ move. I just learned about it today but it was announced a couple weeks ago. Also saw the 650 job announcement today about the vaccine maker.
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Durham has been scoring major economic development projects left and right recently. Great for them, and that’s good for us too!
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Sounds like Durham “County/RTP”…?
RTP so a combined Triangle effort.
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…so DTR gets credit… 
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Rising tide floats all boats
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Wonder where in RTP the Vaccine plant is going.
We’ll see this start conflicts with the Raleigh Chambers of Commerce!!! Which shows there a weak chamber and that a city more than half Raleigh size is getting big corporate HQs when Raleigh isn’t shows red flags, while it’s good for the metro areas portfolio it’s bad for Raleigh since we’re forefront at the stage most of the time. That quietly why I was against the Durham-Orange Light Rail shouldn’t Wake County the forefront county should get it too and first!!! I think it’s time the Raleigh Chamber of commerce partner with Developers like John Kane lúxese leases and buy buildings for big companies to move into , like who knows the tenants for 121 Fayetteville could be a major corporate office that probably why they aren’t building it now. Or other projects like 401H whenever that happens or Smoky Hollow, and 401 Zimmer. Hmm if we partner with and strengthen developers ties with the chamber of commerce well big get big corporate offices in no time!!! And get more competitive Raleigh Chamber Of Commerce!!!
Avaya was already in place, weren’t they? It sounds like they just decided to move their HQ operations to there. It sort of sounds like a tax move to me.
…or did they pick a new location and move there?
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The truth is these companies don’t see Durham, Raleigh, Cary, Morrisville, etc. They see a region with a ton of talented people and fair operating costs. The final location decision simply comes down to available real estate.
Regardless, we’re all better off no matter which municipal boundary (or RTP proper) they choose.
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It turns out Johnston County competed to be the permanent home of the new Space Force (and met all the requirements!? …including being “close to a major urban center”). Even our rural neighbors ultimately don’t care if Durham or Raleigh is the region’s main leader, either, as long as they both bring in huge regional benefits.
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Avaya was just making it official. TBJ points out that "[Jim] Chirico, CEO since 2017, is a long-term resident of Chapel Hill. But three other locations were considered before deciding on Durham… ‘The real differentiator was the talent.’ "
Yes, sir, your talent for minimizing your commute.
They inherited an office on Meridian Parkway (near Woodcroft) in Durham when they bought some Nortel assets.
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Moving HQ Downtown…
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Kind of cool, but from what I read they aren’t moving any new people here or leasing new space, so there won’t be much impact. They have a small existing office. This is a kind of “on paper” move. Still neat to be the hq of a new company, and maybe if they expand their footprint in the future it will be here.
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From reading that article, it seems that they are now a 100% work from home company. And as a healthcare company, they should find good workers in the Triangle should they choose to add more staff. Other than that I wonder if it is more about paying lower taxes?
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Maybe they’ll move into 121 Fayetteville???
I really don’t want to splash cold water on this announcement, bc it is already great to have a business put its HQ here.
However the title is slightly misleading, and can conflate some things:
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Phreesia has a $2b Market Capitalization which is the value of the overall stock. While that is a great number to see, don’t expect it to crack any Fortune 500 or 1000 lists.
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Revenue is about $100m which is small compared to the $2b needed to crack the F1000 list
All this being said, just wanted to clarify parts of the article that might be buzzwordy for people. It’s still a massive gain for the City. Corporate HQs are great in attracting workers, more companies, and even enhanced transportation assets.
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It’s also great to attract HQs that are more likely to be in their infancy and have chosen your city to grow. I just don’t see any downside to this announcement.
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Absolutely. My post wasn’t to bring down the announcement, just to ground it in the reality. It’s a great announcement, especially as the area continues to become a burgeoning tech hub.
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One effect may be is if they ask people they are thinking of hiring to come to corp office for final assessment. Even if WFH some may decide to move to area, and some may do so even if do not get hired.
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