Home Depot v Cobb County Development Officials
Home Depot has had a footprint in Atlanta’s commercial real estate market, and Atlanta in general, for years. Headquartered in Atlanta, their positive economic impact is noticed. They recently asked Cobb County development officials for $200 million, over the next 10 years, to renovate their Cumberland area headquarters and on a potential building lease in Marietta. The $200 million would come in the form of tax abatements.
The Atlanta commercial real estate market would be abuzz if Home Depot decided to pull out of their current location in search of a new one. Home Depot will not sign a lease unless it receives the tax abatements from the development committee.
Their economic and job impact will be large wherever they go. The potential building lease in Marietta would be for Home Depot’s massive IT center. The move would bring 1,200 jobs to the site, an immediate economic boost to the area. Jim McCarthy, Home Depot’s senior real estate director, estimates 525 new jobs and 675 existing employees relocating to the area.
New jobs are always an important aspect in these decisions and certainly something the development committee will take into consideration in the matter.