Finding a Site For Houghton Mifflin Harcourt (HMH)
Services: Site Selection
Services: Site Selection
Houghton Mifflin Harcourt (HMH) has been a notable employer within the city of Austin for decades. Located in downtown Austin, the company has employed more than 200 people and is one of the city’s more respected employers. However, the real estate market has changed significantly over that time period, and in 2015, HMH’s long-term lease expired and put them at current market rates. This presented HMH with sticker shock, to say the least.
It was no longer feasible to be located in downtown Austin, but HMH wanted to remain within the Austin region. Working with a real estate broker, HMH found a site they liked in a northern suburb of Austin and received an offer of approximately $150,000 in incentives. In March of 2015, HMH reached out to AngelouEconomics as a way to increase the incentives being offered. However, we at AngelouEconomics were starting from a limited position due to the prior engagements that the client and their real estate broker had had with the community; the competitive process had been subverted.
At our consultation, the client gave AngelouEconomics the lead position on the site relocation project. From there, we were able to reincorporate competitive aspects back into the projects and renegotiate the incentives being offered. By the end of the process, AngelouEconomics had negotiated $1.2 million in incentives for HMH, an incentive package approximately eight times larger than the original package offered to the client.
Nunc neque nulla, eleifend eu rhoncus eget, interdum eu odio. Proin sit amet mauris tincidunt, commodo mi a, sollicitudin nulla. Aenean scelerisque turpis sed risus auctor, nec malesuada risus congue. Praesent sagittis nulla sit amet augue porta, vitae tempor odio sodales. Fusce convallis porta commodo. Vestibulum nec turpis vitae purus pulvinar tincidunt eget ac nisl. Praesent vulputate viverra malesuada. Aenean varius mi sed felis venenatis convallis. Nullam iaculis imperdiet ullamcorper. Morbi placerat in libero nec ullamcorper. Donec mattis consectetur aliquam.
Title and company
Case Study: Citgo Petroleum
AngelouEconomics was engaged by CITGO to assist the CITGO Petroleum project team in the evaluation of Texas for its corporate headquarters and new refinery investments. The firm performed an economic impact study of the headquarters and manufacturing projects, and assisted CITGO with its incentives negotiations.
Case Study: Conoco Phillips
AngelouEconomics was engaged by Conoco Philips to conduct a site location analysis for the development of a global technology and corporate learning center. The center will serve as the company’s hub for research and development of renewable and alternative energy and high-tech carbon fuels recovery. The project selected a location in the Denver, Colorado region.