Finally, Quicken Loans made the announcement that Detroit boosters have
been waiting for: the company's headquarters will indeed relocate
downtown, bringing along its 4,000 employees.
Now speculation
will have to revolve around where the company will locate: the former
Hudson's site on Woodward or the Statler/Tuller/United Artists site on
Grand Circus Park.
Or both?
Of all the reasons to
celebrate CEO Dan Gilbert's decision, one pops out: he is planning to
try to fill both sites within the next twelve months he has been
alloted per his development agreement. One will certainly be for
Quicken and, as for the other, he aims to lure other "knowledge
economy" firms or create a business incubator.
After the year is
up, the city and state have given Quicken another 18 to 24 months to
finalize construction plans. Which begs the question, "Why so much
time?"
Well, pre-development is certainly a time-consuming process.
But Angelo Vitale, who serves as Quicken's vice president and
corporate counsel, has another perspective on why that time might be in
everyone's best interest. He is personally thrilled with the move, and
describes it in terms like "motivational," "morale booster,"
"exciting," and "incredible."
But he acknowledges that not all
Quicken employees are fully on the moving- from-Livonia-to-Detroit
boat. "Other people are just going to come along," he says. He believes
the time between announcement and move will be well-spent acclimating
employees to their new place of work.
Source: Quicken Loans press conference, Angelo Vitale, Quicken Loans
Writer: Kelli B. Kavanaugh