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They certainly will not move to Cleveland and why Jersey?? Companies are moving from there left and right. Example,, Atlanta just got Mercedes Benz headquarters from Jersey...
Jersey is where GE was started and it's where Thomas Edison created the light bulb as we know it today (or as we knew it, prior to CFLs and LEDs).
Well I do and Ill explain.
Coca Cola ha been in Atlanta since almost its beginning.Coca Cola built Atlanta.
It built parks,symphony halls,libraries etc.
It also effected real change in Atlanta and the U.S.
Delta,UPS,Suntruust, are HUGE supporter of everything from arts to projects like the Beltline.
That's cute and all, but try and employ a few thousand with a park or symphony hall. Try and pay your mortgage with art. Corporate ornaments and vanity projects do not equal economic development - only the investiture of real CAPEX and hiring people in a given community do. Headquarters are generally where the primary executives sit - that's all.
It is far better to have ten companies that make 1 billion a year than one company making 5 billion a year - the rough cut-off for the fortune 500. It is better still to have 10,000 employees of a subsidiary or division of a company than 400 employees working at a headquarters. Yes, there are some legitimate white-collarish benefits if you have a lot of large companies domiciled in a particular city (quick access to high-finance, consultants, accounting, IT apparatus, etc.), particularly if they are clustered around a defined set of industries, but the prime mover of business activity in a city is not the boardroom. It's great to have loyalty and love for the company that was good to grandpa back in the day, but far more important are the number of people that given company employs and the suppliers/contractors they patronize in a given community.
That's cute and all, but try and employ a few thousand with a park or symphony hall. Try and pay your mortgage with art. Corporate ornaments and vanity projects do not equal economic development - only the investiture of real CAPEX and hiring people in a given community do. Headquarters are generally where the primary executives sit - that's all.
It is far better to have ten companies that make 1 billion a year than one company making 5 billion a year - the rough cut-off for the fortune 500. It is better still to have 10,000 employees of a subsidiary or division of a company than 400 employees working at a headquarters. Yes, there are some legitimate white-collarish benefits if you have a lot of large companies domiciled in a particular city (quick access to high-finance, consultants, accounting, IT apparatus, etc.), particularly if they are clustered around a defined set of industries, but the prime mover of business activity in a city is not the boardroom. It's great to have loyalty and love for the company that was good to grandpa back in the day, but far more important are the number of people that given company employs and the suppliers/contractors they patronize in a given community.
Its not just "cute",Companies that heavily onvest themselves in their home city can be transformative where it becomes more attractive to do business and to live.
Did you not read my example about how Coca Cola helped change Atlanta for the better?
My point is other than the obvious that you pointed out.Jobs and employment being more important than having a headquarters more yes but that usually goes hand and hand,
There can be more than one benefit to having a F500 company
WalMart employs 2.2million people.
Microsoft employs 128,000
Now which of those companies are more important?
There is a correlation to the cities with the most headquarters and being high in number of jobs created within those cities.
Houston
Dallas
Atlanta
That's cute and all, but try and employ a few thousand with a park or symphony hall. Try and pay your mortgage with art. Corporate ornaments and vanity projects do not equal economic development - only the investiture of real CAPEX and hiring people in a given community do. Headquarters are generally where the primary executives sit - that's all.
I don't think the indirect ways that corporate philanthropy impacts economic development can be so easily dismissed. For instance, it often provides the cultural amenities that contribute to QOL that make cities more attractive for outside economic investment.
I don't think the indirect ways that corporate philanthropy impacts economic development can be so easily dismissed. For instance, it often provides the cultural amenities that contribute to QOL that make cities more attractive for outside economic investment.
Yeh hes really over simplifying it.I have seen how much money that has been pumped into building Atlanta since I was younger.It's a stag erring amount even if you only count just Coca Cola
Coca Cola,Delta,Suntrust,Home Depot have bankrolled huge protects that have transformed this city.
The Olympics would have never come to Atlanta without its corporate power like Coke,TBS,and Delta.
Coke money built Centennial Olympic Park.Home Depot money built the Aquarium next to the park millions to the College Football Hall of Fame near it and the list goes on and on
Its not just a park.Jobs created to build that park,the countless number of smaller business and residential units around the park,tourism spurred and so many other industries that create a ripple effect.
I know Houston is the same with its corporate philanthropy.
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