CACI International

[jonny d]

http://m.newsok.com/article/5586315

This is not a bad deal for the city. No concrete details mentioned in the article, but sounds promising.

[HangryHippo]

Does sound promising. Hope it's a substantial number of jobs for OKC.

[Pete]

I had heard 550 jobs.

[jonny d]

I had heard 550 jobs.

That would be awesome!

[Pete]

CACI Establishes Shared Services Center in Oklahoma
Company Expands Existing Business and Employee Population in the State

March 08, 2018 05:00 PM Eastern Standard Time
ARLINGTON, Va.--(BUSINESS WIRE)--CACI International Inc (NYSE: CACI) announced today it will be establishing a Shared Services Center (SSC) in Oklahoma City, Oklahoma with the expectation of an operational SSC by July 1, 2018. By locating its SSC in Oklahoma City, CACI will be expanding its current business and employee population in the state. Oklahoma City provides cost advantages and high-quality talent to support CACI’s business operations.

By centralizing some of its transactional business operations in one location, CACI expects to optimize the delivery of cost-effective, quality services with greater reliability and consistency across the company.

CACI President and Chief Executive Officer Ken Asbury said, “We welcome the opportunity to expand our operations in Oklahoma City. The Center will focus on delivering high-quality business support services throughout our company. The efficiencies it creates are another example of CACI investing in the employee experience and providing value to our customers. It further improves our competitiveness and our delivery of long-term shareholder value.”

CACI Chief Operating Officer John Mengucci said, “The standardization and automation of fully integrated business systems and processes will greatly benefit our company and our customers. Through new tools, the concentration of talent, and synergies at our Shared Services Center, we will increase productivity and quality services supporting the company.”

“I am excited to welcome CACI International Inc to Oklahoma City and the Oklahoma community,” said Oklahoma Governor Mary Fallin. “Today’s announcement of CACI’s new operation center is one more indication that our commitment to pro-business policies is helping to attract a wide variety of jobs and businesses to the state. Oklahoma is proud to host CACI, and we look forward to a long and successful partnership with the company and its employees.”

According to Oklahoma City Mayor Mick Cornett, “We are proud to welcome CACI to our community. The economic impact of the jobs CACI is adding is significant. One of the benefits of an Oklahoma City location is our long history and commitment supporting our nation’s military and our federal operations such as the FAA, a commitment we both share with CACI in its work. The City of Oklahoma City and all of our partners look forward to working with CACI.”

CACI provides information solutions and services in support of national security missions and government transformation for Intelligence, Defense, and Federal Civilian customers. A Fortune World’s Most Admired Company, CACI is a member of the Fortune 1000 Largest Companies, the Russell 2000 Index, and the S&P SmallCap600 Index. CACI’s sustained commitment to ethics and integrity defines its corporate culture and drives its success. With approximately 18,700 employees worldwide, CACI provides dynamic career opportunities for military veterans and industry professionals to support the nation’s most critical missions. Join us! www.caci.com.

There are statements made herein which do not address historical facts, and therefore could be interpreted to be forward-looking statements as that term is defined in the Private Securities Litigation Reform Act of 1995. Such statements are subject to factors that could cause actual results to differ materially from anticipated results. The factors that could cause actual results to differ materially from those anticipated include, but are not limited to, the risk factors set forth in CACI’s Annual Report on Form 10-K for the fiscal year ended June 30, 2017, and other such filings that CACI makes with the Securities and Exchange Commission from time to time. Any forward-looking statements should not be unduly relied upon and only speak as of the date hereof.

[Pete]

They are currently in a warehouse + office space at 3700 S. MacArthur.

[theanvil]

Pete, do you have any idea if they are going to expand at this location on S. MacArthur or look elsewhere for office space? An additional 500+ employees would sure help fill some of that empty office space downtown.

[Pete]

Pete, do you have any idea if they are going to expand at this location on S. MacArthur or look elsewhere for office space? An additional 500+ employees would sure help fill some of that empty office space downtown.

I believe they will find / build new space in West OKC.

[Rover]

This company will help any number of OKC companies grow and will attract some here as well. That is a large part of what they do....aiding companies get govt. contracts.

[Pete]

On Tuesday, the Economic Development Trust will consider a resolution recommending $1.25 million in incentives for CACI International which plans to create up to 550 jobs and locate at 7725 W Reno in the OKCWorks complex, just east of Council and north of the Outlet Mall.

[king183]

Money to Costco, money to CACI, to Chesapeake, Continental, etc...

I'll just post this article again.

There is little evidence that such subsidies bring sustainable economic benefit to cities. Research suggests that firms receiving incentives are statistically no more likely to generate new jobs than similar firms that don’t.
...
Public funds generate far better—and more immediate—returns when they are prioritized for smaller, Main Street-scale economic development efforts. The most cost-effective and promising path for bettering the lives of city residents begins at home, via encouraging growth from within the city by building local capacity, leveraging existing assets, and creating quality places that can attract entrepreneurs and investors

[acumpton]

Any idea what will happen with the companies that are already in that building? I believe it is currently Intermedix and Weatherford.

[Pete]

Any idea what will happen with the companies that are already in that building? I believe it is currently Intermedix and Weatherford.

I don't believe it is completely full.

It's 2 million SF which is bigger than the entire Devon complex.

[Bellaboo]

Money to Costco, money to CACI, to Chesapeake, Continental, etc...

I'll just post this article again.

That article is talking 'Billions' in incentives. Personally, I think 1 and a quarter million is worth the 550 jobs with a beginning salary of 57,000. Plus were talking industry diversification. Just my opinion.

[Pete]

That article is talking 'Billions' in incentives. Personally, I think 1 and a quarter million is worth the 550 jobs with a beginning salary of 57,000. Plus were talking industry diversification. Just my opinion.

Remember, millions add up fast.

Also, those in charge of economic development always frame such deals as "spending money to make it" but the truth is they never can prove if these expenditures are even needed. The huge percentage of new businesses and new jobs are done without any economic incentives at all, and the problem is that once you start giving this money out, lots of companies know how to ask for it.

I've said it before but when you set aside billions (and this is true just for OKC) it is money that often goes looking for a problem to solve.

And when you add up all these programs from the state, counties and cities in Oklahoma, I bet you'd find you could easily fix the budget problems and lots of the school funding issues if you just stopped this altogether or at least cut these programs way back and put the same burden of proof of need on those in economic development as anyone else going before the government and asking for millions and millions.

This always gets framed as "It's probably worth $3 million to get Costco" where the better question is "Where could we better spend that same $3 million?" (and bet that Costco would come anyway).

[Bellaboo]

^^^ Pete, my question is do you think that CACI would have located this center here with zero incentive ? Yes or No ?

[Pete]

^^^ Pete, my question is do you think that CACI would have located this center here with zero incentive ? Yes or No ?

Yes.

You really think $1.25 million over a very long term commitment would be a deciding factor?

[Bellaboo]

Yes.

You really think $1.25 million over a very long term commitment would be a deciding factor?

I look at it as icing on the cake, and as stated in post # 9, if true, then it's money well spent.

[Pete]

I look at it as icing on the cake, and as stated in post # 9, if true, then it's money well spent.

And what I'm saying is that is exactly the wrong way to look at it.

When all this adds up to billions and there is a very, very strong case that almost none it needs to be spent in the first place, then you have to think in terms of the cost in tax dollars at a time when the state is in economic crisis and we are on the the verge of mortgaging our entire future due to absurd education cuts; and I'm not sure that we haven't already guaranteed some very contrary economic development fallout down the road based on what has already happened.

This all comes out of the same bank and you have to think of where that money would have gone otherwise.

It's not about this $1.25 million; it's about the billions being spent in the name of economic development the need and benefit absolutely cannot be proven. In fact, there is now a ton of evidence that this type of trickle down approach has led us to the place we are now.

[Bellaboo]

At times you spend money to make money, classic example is MAPS, without MAPS Devon has stated they would have gone to Houston. Our quality of life would have been the same as pre 'the lost United Airlines maintenance facility'.

I'm not for back door crooked handouts and politics, but for money well spent. Just kind of look around, pre 1990, and I can't think of much that would make some business want to show up, other than the O & G industry.

[Pete]

I'm not talking about MAPS, I'm talking about corporate welfare.

BTW, MAPS was actually a tax increase to provide specific improvements. These types of incentives come straight out of existing budgets and at the expense of many other huge needs.

[Celebrator]

From today's WSJ--interesting graphic about halfway down the story showing the largest tax incentive packages current and proposed around the country. Was interested to see more Blue states than Red states in the graphic--not what I would have predicted https://www.wsj.com/articles/in-thei...nds-1521115200

[gopokes88]

From today's WSJ--interesting graphic about halfway down the story showing the largest tax incentive packages current and proposed around the country. Was interested to see more Blue states than Red states in the graphic--not what I would have predicted https://www.wsj.com/articles/in-thei...nds-1521115200

Without a national congressional ban on incentives states and cities are damned if they do, damned if they don’t.

I read the other day the state of Oklahoma forgoes 1.6 billion dollars a year in tax revenue from all the corporate welfare. That would fix every budget issue imaginable. However, last year when the legislature started talking of cutting some, Boeing came out and basically threatened to leave. It’s abusive, it sucks, but it’s the game you have to play to win sometimes.

Need a national ban.

[king183]

Without a national congressional ban on incentives states and cities are damned if they do, damned if they don’t.

I read the other day the state of Oklahoma forgoes 1.6 billion dollars a year in tax revenue from all the corporate welfare. That would fix every budget issue imaginable. However, last year when the legislature started talking of cutting some, Boeing came out and basically threatened to leave. It’s abusive, it sucks, but it’s the game you have to play to win sometimes.

Need a national ban.

I remember hearing Boeing made a threat like that, too. I doubt they would actually leave, because they came here due to more than the incentives; however, if incentives are the only thing keeping them here, let them leave and let us reinvest their incentives--all incentives--in initiatives such as our education system that will be much better for us in the long term. If the incentives are all that keep them here, then the moment another state offers them something better--and right now a lot of states have that capacity over us--they'll leave and we'll have ended up just giving away millions to a billion dollar company for a short term benefit.

We are fighting a long term war with short term tactics.

[gopokes88]

I remember hearing Boeing made a threat like that, too. I doubt they would actually leave, because they came here due to more than the incentives; however, if incentives are the only thing keeping them here, let them leave and let us reinvest their incentives--all incentives--in initiatives such as our education system that will be much better for us in the long term. If the incentives are all that keep them here, then the moment another state offers them something better--and right now a lot of states have that capacity over us--they'll leave and we'll have ended up just giving away millions to a billion dollar company for a short term benefit.

We are fighting a long term war with short term tactics.

You really wanna call their bluff? I wouldn’t. And an elected official for damn sure isn’t going too.