Orrick Global Operations Center case study

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Case study of the creation of the Orrick Global Operations Center in Wheeling, WV. This project consolidated technology, finance and human resources in one location, increased productivity and saved millions of dollars annually.

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Orrick Global Operations Center case study

  1. 1. Case Study Wheeling Stamping Building, Wheeling, WV Regional Economic Development Partnership PO Box 1029 Wheeling, WV 26003 304-232-7722 / 232-7727 www.redp.org
  2. 2. Wheeling, West Virginia <ul><li>Population 35,000 </li></ul><ul><li>“ Victorian Wheeling” </li></ul><ul><li>Original “Gateway to the West” </li></ul><ul><li>Junction of Ohio River, Baltimore & Ohio Railroad, and National Road </li></ul><ul><li>Wheeling Suspension Bridge first bridge to cross Ohio River (1849) </li></ul>
  3. 3. Wheeling Warehouse District <ul><li>Just south of the Central Business District </li></ul><ul><li>Large vacant industrial buildings </li></ul>
  4. 4. Wheeling Warehouse District <ul><li>Enormous potential for redevelopment </li></ul><ul><li>Ohio River </li></ul><ul><li>15-mile Heritage Trail </li></ul><ul><li>Infrastructure and utilities </li></ul><ul><li>Easy access to the Downtown and Interstate 70 </li></ul>
  5. 5. Wheeling Stamping Building <ul><li>Originally three separate buildings </li></ul><ul><li>Built between 1890 and 1905 by the Nail City Lantern Company (kerosene lanterns and aluminum specialty products) </li></ul><ul><li>Four stories with a total of 88,000 square feet </li></ul>
  6. 6. Original Development Team <ul><li>Regional Economic Development Partnership </li></ul><ul><li>City of Wheeling </li></ul><ul><li>Wheeling National Heritage Area Corporation </li></ul><ul><li>State of West Virginia </li></ul><ul><li>ALL GOVERNMENT OR NON PROFIT! </li></ul>
  7. 7. Regional Economic Development Partnership <ul><li>Private non-profit development corporation </li></ul><ul><li>Established 1961 </li></ul><ul><li>Mission to create jobs and stimulate the local economy </li></ul><ul><li>Manage 626,500 sq.ft. of real estate, and over 117 acres of land </li></ul>
  8. 8. The Tenant <ul><li>Orrick, Herrington & Sutcliffe, an international law firm based in San Francisco </li></ul><ul><li>Creating a “Global Operations Center” to house all of their support staff for the firm’s 14 offices </li></ul><ul><li>Up to 250 financial and technology jobs </li></ul>
  9. 9. Financing Plan <ul><li>Commitment to Tenant for $7 million </li></ul><ul><li>City of Wheeling: $1 million BEDI grant, $2.25 million HUD Section 108 Loan Guarantee. </li></ul><ul><li>WNHAC: $2 million in construction money from the National Park Service </li></ul><ul><li>RED: $3 million loan through the State </li></ul><ul><li>“ Church Group”: $1 million loan </li></ul>
  10. 10. Financing Plan <ul><li>“ Gap” created by $200,000 reduction in Church loan and construction contingencies </li></ul><ul><li>HRTC to close the gap and cover contingencies </li></ul><ul><li>New members added to team </li></ul>
  11. 18. Results: <ul><li>Orrick productivity increase </li></ul><ul><li>Serving the customer better </li></ul><ul><li>Saving over $5 million per year </li></ul>
  12. 19. Next: <ul><li>Stone Center @ Market Plaza </li></ul><ul><ul><li>Former department store </li></ul></ul><ul><ul><li>Phase 1: $6,000,000 </li></ul></ul><ul><ul><li>180,000 square ft </li></ul></ul><ul><ul><li>HRTC </li></ul></ul><ul><ul><li>Completion 2006 </li></ul></ul>

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