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Snagging F500 corporate headquarters relocations is nice, but it certainly isn't the only way to grow an economy. For instance, Greenville, SC's economy is doing well right now and it has zero F500 headquarters and no airport offering hundreds of daily flights domestically and internatiomally. A big reason for that is the abundance of manufacturing jobs, successfully attracting regional corporate headquarters, and the region's success in growing its tech economy. And it doesn't hurt to be located within a state that's generous with incentives.
Cities like Greensboro and Winston-Salem can successfully land more back office-type operations for major companies which provide relatively well-paying jobs without the need to be in close proximity to a major airport. They can also invest in their more heavily in their start-up cultures to groom more homegrown companies that can eventually grow into major players. One thing is for sure: they aren't doomed to irrelevancy simply because F500 corporate headquarters aren't currently moving there. Those major corporations go through all sorts of changes like mergers and acquisitions, splits/spin-offs, loss of revenue, etc all of the time that affect the (re)location of their headquarters cities so that in and of itself isn't the best gauge to go by in determining the overall economic health or competitiveness of a city. For instance, Honeywell isn't a net gain in F500 headquarters for Charlotte because it just lost Family Dollar with the Dollar Tree acquisition. VF Corp's move to Denver may not necessarily be a F500 headquarters loss for Greensboro since the company will spin off its jeans division which will remain headquartered in Greensboro. And even if it does result in a F500 headquarters loss, there isn't expected to be a net loss of jobs because positions moving to Greensboro from Kansas City related to the Wrangler/Lee spin off will offset the VF jobs lost to Denver.
Certainly challenges remain, but progress is still very much possible. It really does seem as though some think the Triad should indeed be bulldozed and everyone should be forced to relocate to Charlotte or the Triangle.
Very very well said and explained. Would +1 again if I could.
Snagging F500 corporate headquarters relocations is nice, but it certainly isn't the only way to grow an economy. For instance, Greenville, SC's economy is doing well right now and it has zero F500 headquarters and no airport offering hundreds of daily flights domestically and internatiomally. A big reason for that is the abundance of manufacturing jobs, successfully attracting regional corporate headquarters, and the region's success in growing its tech economy. And it doesn't hurt to be located within a state that's generous with incentives.
Cities like Greensboro and Winston-Salem can successfully land more back office-type operations for major companies which provide relatively well-paying jobs without the need to be in close proximity to a major airport. They can also invest in their more heavily in their start-up cultures to groom more homegrown companies that can eventually grow into major players. One thing is for sure: they aren't doomed to irrelevancy simply because F500 corporate headquarters aren't currently moving there. Those major corporations go through all sorts of changes like mergers and acquisitions, splits/spin-offs, loss of revenue, etc all of the time that affect the (re)location of their headquarters cities so that in and of itself isn't the best gauge to go by in determining the overall economic health or competitiveness of a city. For instance, Honeywell isn't a net gain in F500 headquarters for Charlotte because it just lost Family Dollar with the Dollar Tree acquisition. VF Corp's move to Denver may not necessarily be a F500 headquarters loss for Greensboro since the company will spin off its jeans division which will remain headquartered in Greensboro. And even if it does result in a F500 headquarters loss, there isn't expected to be a net loss of jobs because positions moving to Greensboro from Kansas City related to the Wrangler/Lee spin off will offset the VF jobs lost to Denver.
Certainly challenges remain, but progress is still very much possible. It really does seem as though some think the Triad should indeed be bulldozed and everyone should be forced to relocate to Charlotte or the Triangle.
Why don't people understand this?
Rendle told Mayor Nancy Vaughan in an email she shared with the News & Record said that the new company will maintain most of its 1,300 jobs in Greensboro and add to that total when the Lee brand relocates from Kansas City.
From the official press release.
But can you imagine if greensboro had lost those jobs...that would have been devistating.
Rendle told Mayor Nancy Vaughan in an email she shared with the News & Record said that the new company will maintain most of its 1,300 jobs in Greensboro and add to that total when the Lee brand relocates from Kansas City.
From the official press release.
But can you imagine if greensboro had lost those jobs...that would have been devistating.
All companies say that. It takes years to merge and consolidate anyway.
Im not saying they’ll downsize, I’m saying a commitment to retain jobs is the least reassuring indicator whether jobs will come or go within 5 years
All companies say that. It takes years to merge and consolidate anyway.
Im not saying they’ll downsize, I’m saying a commitment to retain jobs is the least reassuring indicator whether jobs will come or go within 5 years
This is of course true. And over the coming years, other mergers, consolidations, reorganizations, etc will blur the lines of what jobs were "lost", "gained", and "recooped".
I also don't think the loss of VF is as bad as some are painting. But it is a loss nonetheless.
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