Latest news with #Jessup
Business Insider
2 days ago
- Business
- Business Insider
Elon Musk urged businesses to ditch Delaware. Nevada saw an opportunity.
Elon Musk has made his feelings about the state of Delaware clear. "Companies should get the hell out of Delaware," Musk wrote last August on X. Although Delaware's Secretary of State told Business Insider its role as the "corporate capital of the world" is not under threat, states like Wyoming, Texas, and Florida — and especially Nevada — have emerged as popular alternatives. Musk's unhappiness with Delaware began in 2024 after a judge for the state's Court of Chancery denied his multi-billion-dollar pay package. In response, Musk attacked the court on X and advised others to avoid incorporating in Delaware. The billionaire has since moved Tesla and SpaceX to Texas. Musk wasn't the only business leader ready to ditch Delaware, as it turns out. VC firm Andreessen Horowitz announced its departure from the state in July, saying recent rulings in the Court of Chancery undermined its "reputation for unbiased expertise." Roblox, Dropbox, and Trump Media have also left Delaware. Delaware is considered a premier state for businesses to incorporate, in part, because of the Delaware General Corporation Law. The business-friendly statute is the foundation of its corporate law. While there are various reasons a business might incorporate outside Delaware, Musk and companies like Andreessen Horowitz said they are seeking a more favorable legal landscape. Nevada sees an opening Some of the companies that have left Delaware have chosen Nevada as their new corporate home. Andreessen Horowitz is one. The company said in its blog post that Nevada law provided less "legal uncertainty" than Delaware. Bill Ackman, the billionaire CEO of Pershing Square Capital Management, said in February that his firm would also move from Delaware to Nevada. "Top law firms are recommending Nevada and Texas over Delaware," Ackman posted to X at the time. Nevada isn't just seeking companies to incorporate there, however, it also wants to attract their offices and workers. "What it's about is making sure that we're not just getting those businesses to incorporate on paper, but we also want their physical assets here," Clark County Commissioner Michael Naft told Business Insider. Clark County is home to Las Vegas. Len Jessup, a general partner with Desert Forge Ventures, which is based in Las Vegas and invests in early-stage companies, told Business Insider that he's seen more corporations choose Nevada as a home. "We've seen founders moving here — a lot of them from California because it's adjacent — but they're coming from all over," Jessup said. They're being drawn to Nevada for a variety of reasons, including no state income tax on individuals, no capital gains tax, and what Jessup described as lighter regulations. While Nevada doesn't have an individual income tax, it does enforce a commerce tax on businesses earning more than $4 million in gross revenue. Lindsey Mignano, a founding partner of SSM Law PC who represents emerging tech companies, said the different tax structures "may make less of a difference" in the early stage because "revenue is not yet high, but at the later stages of a company's lifecycle, this can absolutely add up." Clark County is hoping to draw more companies to the region by developing what it's calling an "innovation district." "It has been something that we've been really methodical about. We've gotten stakeholders together, but at the end of the day, Clark County's innovation district is really about lifting up what's happening here organically and using those assets to attract more like-minded businesses and individuals to be part of that space," Naft said. For Jessup, getting companies to incorporate in Nevada is a way to expand the state's economy, which mostly relies on its hospitality and tourism industries. "My goal is, 10 years down the road, I want to have helped to create companies in tech and biotech — so, outside of gaming, hospitality, sports, and entertainment — that add to the ecosystem and help to diversify the economy," Jessup said. The Las Vegas Convention and Visitors Authority reported that the number of visitors declined 11.3% this June compared to the same time last year. "The state still does these cycles of boom and bust. I'd like to see us add more companies locally, like Switch's data center company, that are a little bit more recession-resistant," Jessup said, referring to the AI, cloud, and data center company. Naft said officials are still determining details about the Clark County innovation district, but are hopeful it could help solidify it's foothold as a business capital. "We want to make sure that people understand that we are open to new ideas," he said.
Yahoo
12-06-2025
- Business
- Yahoo
Lackawanna County community addresses zoning ordinances as data centers come to NEPA
JESSUP, LUZERNE COUNTY (WBRE/WYOU) — Soon, the landscape in northeastern Pennsylvania will look a lot different. Data centers are popping up all over the area, and Lackawanna County is a hot spot. On Wednesday, one of the county's communities took steps in addressing its zoning ordinance for a proposed data center coming to its area. Wednesday night, Jessup Borough officials held a meeting to address zoning ordinances in order to govern these data centers and enact stricter legislation. Municipalities must make sure of proper legislation, or these data centers could bring about negative effects. Data centers coming to NEPA could offer significant tax revenue and high-paying jobs. But without them being properly legislated, residents like Bonnie Urzen are concerned the opposite of that could happen. 'How much would they put a strain on us versus how much would they benefit our community?' Jessup resident Bonnie Urzen said. In front of the Jessup Borough Council Wednesday evening, project officials presented different elements of Jessup's zoning ordinances in regards to the proposed data center. New state health clinic opens in Wyoming County The power plant, transmission infrastructure, and ground in Jessup make it a good fit, according to project leaders. 'We're really focused on this effort, and they are working expeditiously to make projects like this come to fruition, and this site seems perfect and in line for that,' CBRE Executive Vice President Jake Terkanian told 28/22 News. Not the site that the borough council originally proposed, which was above the Casey Highway, but instead, project officials say somewhere more 'powerful.' They say they evaluated Jessup to decide where the best location would be, and feel near the power station makes the most sense. PennDOT announces rolling slowdowns coming to Interstate 81 According to the proposed plans, the center would be a multi-storied building at nearly 85 feet tall and 550-100,000 square feet. Officials say the setback regarding residential areas would be around 200 feet. 'I was concerned about another big facility coming,' Urzen added. Those heading the big project say these measurements and proposed developments are typical to that of others in the commonwealth. Urzen says that's exactly what she wants to know more about before it comes to her town. 'I would really be interested in knowing what other towns done, what they found, what they would do over again, but I think it's a we'll see,' Urzen continued. The council did not vote on it on Wednesday. Project officials say many more meetings and steps still need to happen, but the land development project is next. Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
Yahoo
05-06-2025
- Yahoo
Kentucky man accused of not registering as a sex offender with ties to NC, Vermont at large
KENTUCKY (FOX 56) — A Kentucky man is at large after reportedly not registering as a sex offender, and Kentucky State Police (KSP) is asking for help tracking him down. In a Facebook post just after 6 p.m. on Wednesday, June 4, KSP said that Robert Jessup, 44, is wanted for failing to comply with sex offender registration. Court records show that he was indicted in December 2023 for failing to register. Lexington man gets 28 years for cocaine trafficking, laundering Kentucky man accused of not registering as a sex offender with ties to NC, Vermont at large Lexington emergency 911 system down: What to dial in an emergency KSP noted that Jessup has ties to both Vermont and North Carolina. He stands 5 feet, 9 inches tall and has brown eyes. Anyone with information about his whereabouts is asked to contact KSP Post 2 in Madisonville at 270-676-3313. Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
Yahoo
26-05-2025
- Business
- Yahoo
Jessup to join Lackawanna County Land Bank to combat blight
The Lackawanna County Land Bank will soon have its newest member. Jessup is joining the county land bank to address abandoned properties and combat blight, Councilman Gregg Betti said Monday. 'The reason we want to join the land bank is in case there's situations where there's abandoned properties that aren't maintained — they're blighted, and they get onto the tax sale, then the borough can take them if it seems appropriate,' Betti said. Jessup joins 15 other municipalities and nine school districts to work with the land bank, according to the county. Established in 2015, the Lackawanna County Land Bank's mission is 'to foster economic and community development by eliminating blight and returning properties to productive use,' according to its website. To achieve that goal, the land bank works with partnering municipalities to get properties back onto the tax rolls by gaining control of tax-delinquent, abandoned land and buildings that don't sell at upset or judicial sales, which are real estate auctions held to pay off unpaid property taxes. It cuts through the red tape, said Ralph Pappas, Lackawanna County's business relationship manager and land bank administrator. 'When they sign that agreement, they allow the land bank to sell repository properties, or tax-delinquent properties, within their municipality,' Pappas said. Normally, a tax-delinquent property would be put up at an upset sale through the Lackawanna County Tax Claim Bureau, and if it doesn't sell, it goes through the judicial sale process, he said. If it still doesn't sell, it goes into a repository of unsold property, where someone could buy it through the tax claim bureau, Pappas said. However, if the municipality and its school district are members of the land bank, the property can be purchased directly through the land bank at a cheaper price, he said. The land bank's power to make preemptive bids at judicial sales is the major advantage, Pappas said, explaining the land bank is able to go into judicial sales with an option agreement in place with the tax claim bureau to purchase properties for the minimum bid price. The land bank has sold about 390 properties since its inception, Pappas said. Jessup was first approached by a land bank official several years ago, but the borough did not join at the time, Betti said. Betti, who previously spearheaded a borough effort to adopt International Property Maintenance Code standards to reduce blight, said he raised the idea of joining the land bank in March, and council subsequently voted to join. He attributed the decision in part to a condemned, vacant house on Lane Street that Jessup had petitioned the Lackawanna County Court of Common Pleas in October for permission to access and demolish. If Jessup had been a land bank member, they would already have taken the land and torn down the condemned home, Betti said. Instead, it was sold at a tax sale, and now the borough has to restart the process of trying to get the building torn down, he said. 'The land bank is just another tool to deal with blighted properties and properties that haven't paid their taxes,' Betti said. Joining the land bank involves an intergovernmental cooperation agreement involving the land bank, the county, Jessup and the Valley View School District. When the land bank was first established, county commissioners and the land bank passed legislation allowing any municipality to join the land bank in order to avoid having to vote each time a new town joins, Pappas said. Similarly, the Valley View School District previously passed a resolution allowing its three towns — Archbald, Blakely and Jessup — to join the land bank, but with a previous superintendent's signature on the document, it raised the question of whether the district would need to vote on anything new for Jessup to join, Pappas said. Valley View Business Manager Corey Castellani said he spoke with the district solicitor about it, and he expects the school board to approve it during their June meeting. Lackawanna County Commissioner Bill Gaughan, who is a board member at the land bank, was an early advocate for the land bank while serving on Scranton City Council. 'The idea behind the land bank was, 'Let's get these properties into the hands of neighbors, into the hands of people who want to develop them, and make it easier for people to develop them,'' Gaughan said in a phone interview. 'It really worked well in the city of Scranton and in other communities that had joined the land bank early on, and now we're starting to see boroughs like Jessup come on board, which is really great.' Prior to the land bank, if the city demolished a blighted home, the land would sit unused for years because neighbors weren't going to pay thousands of dollars in back taxes for land that wasn't worth it, Gaughan said. By selling the land to neighbors more cheaply through the land bank's side lot program, the city was able to get the land back on the tax rolls and beautify neighborhoods, he said. 'Let's get these properties back on the tax rolls,' Gaughan said. 'Let's get them into people's hands within the neighborhood, who are going to improve them and help beautify the neighborhoods and bring the neighborhoods back to where they should be.'
Yahoo
12-05-2025
- Yahoo
Woman killed in Howard County crash involving stolen car is identified
May 11—A 69-year-old Columbia woman died after a multi-vehicle collision in Jessup involving a car stolen by juveniles, police say. Subscribe to continue reading this article. Already subscribed? To log in, click here. Originally Published:May 11, 2025 at 8:31 PM EDT
