RBC Centura Plans To Move Headquarters To Downtown Raleigh
Posted August 30, 2005 8:59 a.m. EDT
Updated June 20, 2011 12:32 p.m. EDT
RALEIGH, N.C. — RBC Centura executives announced plans Tuesday to move its Rocky Mount headquarters to downtown Raleigh, saying they recognized the need for a more central location that provides quick access to other parts of the state and the region.
"We have looked at the benefits over a long period of time, and we know that moving our headquarters to Raleigh will help us keep our positive momentum going," said RBC Centura CEO Scott Custer. "That's good for us in North Carolina and in every one of our markets across the southeastern U.S."
Custer said that the decision to locate had everything to do with the business environment. He also said he liked the idea of being in the capital and being able to leverage state leaders under the dome.
"I expect that locally our new headquarters will become a center for our banking business and a vibrant hub that draws families, businesses and the community as a whole together."
Many community leaders and businesses in the downtown area also believe the news will help boost Raleigh's image as a center for business. With the new Progress Energy headquarters and companies such as staffing software company Peopleclick, Raleigh Mayor Charles Meeker said downtown's base is changing.
"Raleigh has been a state capital and education center. Now, we are becoming a commercial center where companies are headquartered," Meeker said. "It broadens the economic base of the area. It creates a lot of job opportunities and affects the economic strength all together."
Raleigh's gain is not necessarily Rocky Mounts loss.
RBC Centura said several hundred jobs would stay to the east. About 400 positions that are spread out across the Triangle would be consolidated at the bank's new headquarters and new-hires are a guarantee.
While RBC Centura has not said where the location for its new headquarters office will be in downtown Raleigh, sources say the bank is looking at a few sites between the 300 and 500 blocks of Fayetteville Street to build a new 130,000 square-foot high-rise building. The bank plans to make its final decision on a location within the next 60 days.
The company hopes to complete construction and be stationed downtown by 2008.
The bank is also pledging $1 million over five years for downtown revitalization. The company will also hold a major conference at the new Raleigh Convention Center in 2008.
Raleigh beat out Atlanta and Orlando for RBC's headquarters. The bank never really considered Charlotte as a location. Leaders said the company did not think it could stand out in Charlotte, which is already a banking hub.
Wake County and Raleigh pledge up to $1 million to help the company relocate.