Entercom to move to the city?
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  1. #1

    Entercom to move to the city?

    From Tom Taylor's newsletter. (2 parts)

    Entercom will build its new corporate HQ along the waterfront in Philadelphia.
    And “in Philadelphia” is significant, because CEO David Field’s currently based in Bala Cynwyd, PA, literally across City Line Avenue from the City of Brotherly Love. That saves Entercom staffers from paying the city wage tax, among other benefits (like abundant free parking). But Philadelphia’s doing well economically and the Field family may like the idea of being a visible part of the city where they’ve lived for decades. (Company founder Joe Field has long been a local philanthropist.) The new headquarters location reported by the Philadelphia Business Journal will certainly be visible – right along the Schuylkill Waterfront, at 2400 Market Street. It’s an older building that was once an auto assembly plant and was recently used as a design center. It’s being rehabbed (and expanded) for the Aramark food services company, which is taking 300,000 square feet. The Business Journal says Entercom would lease about 60,000 square feet. But is that enough?

    Entercom’s new HQ will house Philadelphia stations now at three different sites.
    Sports WIP/94.1 is at Fourth and Market Streets in Philadelphia. All-news KYW/1060 is bunked down with former CBS sister KYW-TV. And country WXTU/92.5, classic hits WOGL/98.1, AC “Today’s 96.5” WTDY and talk WPHT/1210 are out on City Line Avenue – but not where Entercom’s existing headquarters is. Since its November 17 merger with CBS Radio, Entercom’s literally dealing with many different pieces of real estate (and leases) in Philadelphia. The Philadelphia Business Journal says Entercom’s using about 14,000 square feet at 401 East City Avenue – probably not enough for a growing company. The future corporate office/Philadelphia station space looks out onto the Schuylkill (“SKOO-kill”) River and its popular new River Trail. Across the river is the 30th Street Station used by Amtrak, which makes for a speedy 90-minute train ride into New York City or Washington DC. Pretty smart location. (Also convenient for staffers who use the local SEPTA train service.) Nothing official yet about the Schuylkill Waterfront location from Entercom – which may want to create a splash in the local media about committing to the city of Philadelphia.

  2. #2
    Why would they pick the most super liberal city in the country, with Kenney and Krasner at the helm. Unless they want enormous taxes and criminals allowed to roam the streets knowing the police can''t touch them.

  3. #3

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    Quote Originally Posted by Gunsmoke View Post
    Why would they pick the most super liberal city in the country, with Kenney and Krasner at the helm. Unless they want enormous taxes and criminals allowed to roam the streets knowing the police can''t touch them.
    From the article:

    But Philadelphia’s doing well economically and the Field family may like the idea of being a visible part of the city where they’ve lived for decades. (Company founder Joe Field has long been a local philanthropist.) The new headquarters location reported by the Philadelphia Business Journal will certainly be visible – right along the Schuylkill Waterfront, at 2400 Market Street.

  4. #4
    Quote Originally Posted by Gunsmoke View Post
    Why would they pick the most super liberal city in the country, with Kenney and Krasner at the helm. Unless they want enormous taxes and criminals allowed to roam the streets knowing the police can''t touch them.
    Perhaps because not everyone shares your hyperbolic view? Perhaps for the same reason many companies are in the city? Perhaps because they see value in that location? Perhaps because the city has continued to show many positive economic trends on the business front?

    Just spitballing.

  5. #5
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    Quote Originally Posted by AMRocks View Post
    From Tom Taylor's newsletter. (2 parts)
    An interesting article. Thanks for posting.

    We'd like to ask that any items copied from other sources always have a link to that source and be in compliance with "fair usage" considerations.

    So here is the link to the Tom Taylor site where the current issue and back issues are available. (And free!)

    https://mailchi.mp/tomtaylornow/tom-...1?e=f2d90fad38
    Last edited by DavidEduardo; 03-13-2018 at 09:06 PM.
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  6. #6
    Quote Originally Posted by Gunsmoke View Post
    Why would they pick the most super liberal city in the country, with Kenney and Krasner at the helm. Unless they want enormous taxes and criminals allowed to roam the streets knowing the police can''t touch them.
    You're disgusting.

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    Quote Originally Posted by Miguelito View Post
    You're disgusting.
    While Gunsmoke did not phrase the question in a perfectly PC manner, there is certainly a question of why a business would be moved into Philadelphia which does have higher taxes, a higher crime rate, and other negative considerations.

    The question is whether Entercom is getting incentives that over-weigh the downside aspects.
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  8. #8
    Quote Originally Posted by DavidEduardo View Post
    While Gunsmoke did not phrase the question in a perfectly PC manner.
    Part of a larger trend.

  9. #9
    The city also has more mass transit, access to significant talent pools, the “cachet” that can come with a city location in general, what looks like a heck of a building, cultural attractions and more. Suburbia isn’t always all it’s cracked up to be. 🙂

  10. #10
    Quote Originally Posted by DavidEduardo View Post
    The question is whether Entercom is getting incentives that over-weigh the downside aspects.
    I'm sure they are. For one thing, the article says they will be occupying an older building, and that qualifies for local as well as federal tax breaks. There are programs that encourage restoration of historic buildings, and this probably qualifies. The waterfront area doesn't have as much crime as other parts of center city. Employees will likely get commuter benefits from the company. They offer that in NYC. But the biggest benefit is bringing all of their stations together in one building. The CBS radio stations managed to do that in NYC, although it took a long time. And considering that David Field is a Philadelphian, moving his company into a showplace studio, with lighted signs that travelers will be able to see from I-95, will be a big source of pride.

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