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SF and Seattle’s biggest companies continue to operate remotely. Heck, Starbucks is making a killing at its drive-thru stores. Cities based more on entertainment are the ones that will get their teeth knocked in from this epidemic.
Yup, most tech company workers I know are still working remotely.
SF and Seattle’s biggest companies continue to operate remotely. Heck, Starbucks is making a killing at its drive-thru stores. Cities based more on entertainment are the ones that will get their teeth knocked in from this epidemic.
Boeing is Seattle’s 2nd largest company and Starbucks is 3rd.
I think those will be hurt not helped by this because most people stop by Starbucks or Dunkin or whatever during their commute to work or school.
Which isn’t happening. Most customers don’t have Starbucks as a destination.
Boeing is Seattle’s 2nd largest company and Starbucks is 3rd.
I think those will be hurt not helped by this because most people stop by Starbucks or Dunkin or whatever during their commute to work or school.
Which isn’t happening. Most customers don’t have Starbucks as a destination.
And Starbucks closed nearly every city location in New York, Philadelphia, Boston, DC and Chicago. A tragedy for me since I am addicted to coffee. But also not good for Starbucks or any company at this point.
Nordstrom is also headquartered in Seattle. Department stores are going to be hit very hard from this.
Also, if other parts of the country fall into Great Depression status, it could be the kickstart needed to disperse fed govt jobs throughout other parts of the country, rather than concentrating them in one location. Towns are struggling may be able to get new fed govt offices/branches. Especially considering this whole pandemic has put us more into the work from home mindset and virtual meetings. Maybe we'll realize that all these fed govt positions don't need to be so close to each other, since it's possible to conduct the same business remotely. By doing it remotely, the fed govt can prop up other struggling economies, as well as probably pay lower salaries on a salary scale if the jobs are moved to lower COL cities.
If more federal agencies were to be dispersed throughout the country, they wouldn't be going to Meridian, MS or Casper, WY. They would be going to mid-major/major cities, most likely regional hubs that already have a lot of regional offices for various federal agencies like Atlanta, Denver, and Chicago.
I don't know. All of them will be hit pretty bad. Tourist based economies ofcourse will be killed. Especially Orlando and Las Vegas. Cities with a small or shrinking educated creative class will never recover. Cities that offer a high quality of life along with progressive planning will likely continue to win in post recession.
If we were to include inflated housing values and the fact that they will inevitably crash..... SF is one of the most vulnerable. On economy alone, it's up there though for being safe. Even though it is almost entirely dependent on tech, tech isn't going anywhere.
Most of the places that blew up in population over the past 10 years aren't going to fare well, generally speaking, particularly those that have less high paying and stable jobs overall. Live by the economy, die by the economy. The places that benefited the most will also be hit hard the most. The most stable, diverse economies that have been around for much longer will probably stand up the best.
Though, every place will be hit harder for different reasons. Whether that's because of a one-trick-pony economy, massive local debt, low wage economy, high housing prices, generally bad future outlook, reliance on tourism.... you could make a case for pretty much everywhere.
Last edited by CCrest182; 03-22-2020 at 12:47 PM..
Dallas’ economy is very diverse and isn’t oil dependent. A downturn in the oil industry wouldn’t really hurt Dallas at all.
Diversity doesn't mean anything. Chicago has one of the most diverse economies in the country and yet is still affected moreso than others. Actually Chicago is interesting because the way the economy is set up usually is on a delay from other metro as far as being hit and/or recovering from a recession. I wish I could find the article, but there was an economist from the Federal Reserve talking about it a few months ago.
Each recession is kind of different, so it's hard to just put a blanket statement on things. Last recession metros like DC and SF (and a few others) were better than others.
Atlanta, GA
Austin, TX
Baton Rouge, LA
Boise, ID
Boston, MA
Columbia, SC
Columbus, OH
Denver, CO
Lansing, MI
Lincoln, NE
Madison, WI
Minneapolis/St. Paul, MN
Nashville, TN
Oklahoma City, OK
Phoenix, AZ
Providence, RI
Raleigh, NC
Salem, OR
Tallahassee, FL
Trenton, NJ
Each of these metropolitan areas has both a state capitol building and a major university.
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