NYTimes.com Article: JetBlue Backs Off on Move to Jamaica From Forest Hills

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This article from NYTimes.com
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These dumb idiots don't realize that JetBlue's headquarters are in Kew Gardens, not Forest Hills.

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JetBlue Backs Off on Move to Jamaica From Forest Hills

November 8, 2003
 By MIKE McINTIRE





Attempts to lure JetBlue Airways into moving its
headquarters to a planned $200 million office tower in
Jamaica, Queens, appear all but dead for now, with the
company saying the move would be too costly and would take
longer than expected to complete.

The three-year-old airline, based in Forest Hills, has been
negotiating for months with the city and the Greater
Jamaica Development Corporation about possibly relocating
to the 500,000-square-foot building. The tower is to be the
first phase of JFK Corporate Square, a major project hailed
by economic development officials as an engine of
commercial growth for Jamaica.

But yesterday, Richard Smyth, vice president of
redevelopment for JetBlue, splashed cold water on the
proposal, saying, "At this stage, it looks like it's not
going to happen."

"We were approached and we considered it," Mr. Smyth said
in a telephone interview. "However, the numbers did not
work out. The move was supposed to be financially neutral,
but it looks like it won't be."

Mr. Smyth added that the expected completion date for
construction of the office building was further away than
initially expected, causing additional complications. "The
timing of the development was not, at this time, meeting
our needs," he said. "The date had slipped from 2005 to
2006, and even beyond."

Still, Mr. Smyth would not rule out a move to the Jamaica
site at some point. He said JetBlue had no other plans to
leave its current headquarters.

Economic development officials reacted with puzzlement to
JetBlue's statements, and insisted that talks over a
possible move were still alive. Michael Sherman, a
spokesman for the city's Economic Development Corporation,
said city officials expected to meet with JetBlue
executives for further talks in the next two weeks.

"They did call us and said they had some concerns," he
said. "But we're optimistic. We're still hopeful that we
can make it work."

Mr. Sherman declined to comment on the negotiations with
JetBlue or on what financial incentives, if any, the city
might be prepared to offer. He called the airline "an
incredibly important company for New York City."

A spokesman for the Greater Jamaica Development
Corporation, Sam Samuels, issued a statement saying, "We
are still hopeful that the discussions the airline is
having with the city will be fruitful."

The problems with the JFK Corporate Square proposal are
unrelated to another major project by JetBlue and the Port
Authority of New York and New Jersey: the construction of a
26-gate terminal at Kennedy International Airport. That
project, expected to cost $600 million, would greatly
expand JetBlue's already dominant presence at the airport.

JFK Corporate Square, a 4.5 million-square-foot complex of
office and retail space, would be built next to the Long
Island Rail Road's Jamaica station and the new AirTrain
rail line to Kennedy Airport. The Metropolitan
Transportation Authority has tentatively agreed to lease
space in the first office tower to be built, and officials
had been hoping that JetBlue would be the other major
tenant.

http://www.nytimes.com/2003/11/08/nyregion/08JETB.html?ex=1069664122&ei=1&en=834df5504d1cccec


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