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Thread: Businesses Moving into the Urban Areas?

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    Veteran Member Southern Dad's Avatar
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    Businesses Moving into the Urban Areas?

    I find this story to be very interesting. Another giant employer mentioned is Caterpillar who is moving from Peoria to Chicago. Imagining some of the reactions to this story already... Crime? These corporations are moving to places like Chicago but are not moving to the high crime areas of Chicago. Will this mean high paying jobs for those in the inner cities? Not likely they are bringing the executives with them. The story says that Caterpillar will move its 300 top executives from Peoria to the Chicago area. I'm sure that will help drive housing prices up temporarily but I'm not sure what else.

    What happens to Peoria? All of the businesses that have made their livelihood dealing with just one company or the employees of just one company?

    As companies relocate to big cities, suburban towns are left scrambling

    In Chicago, McDonald’s will join a slew of other companies — among them food conglomerate Kraft *Heinz, commodities giant ADM and telecommunications firm Motorola Solutions — all looking to appeal to and be near young professionals versed in the world of e-commerce, software analytics, digital engineering, marketing and finance.

    Such relocations are happening across the country as economic opportunities shift to a handful of top cities and jobs become harder to find in some suburbs and smaller cities.

    Aetna recently announced that it will relocate from Hartford, Conn., to Manhattan; General Electric is leaving Connecticut to build a global headquarters in Boston; and Marriott International is moving from an emptying Maryland office park into the center of Bethesda.

    Chicago Mayor Rahm Emanuel (D) said the old model where executives chose locations near where they wanted to live has been upturned by the growing influence of technology in nearly every industry. Years ago, IT operations were an afterthought. Now, people with such expertise are driving top-level corporate decisions, and many of them prefer urban locales.

    https://www.washingtonpost.com/busin...=.ea969fd59c9d

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    It's all part of the trend of returning to the cities as suburbanization becomes old hat, and out of favor.
    Last edited by BlueDozer; 18th July 2017 at 10:13 AM.

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    Veteran Member Southern Dad's Avatar
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    Quote Originally Posted by BlueDozer View Post
    It's all part of the trend of returning to the cities as suburbanization becomes old hat, and out of favor.
    Think of all the changes that will follow. Will schools improve? Roads? City services?

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    All of those things can improve fantastically if resources are well placed to accommodate a growing urban population.

    Suburbia is not cost-effective, and is unsustainable just from an infrastructure and public services point of view, at least long-term which is why inner ring suburbs are usually in such bad shape.

    People moving back to the cities means higher tax revenue. There just needs to be more subsidy put into high-density development to house and service everyone, and to keep cost of living down. That needs to come partly from the state and federal governments. Up front, most cities just don't have it on their own.
    Last edited by BlueDozer; 18th July 2017 at 10:18 AM.
    Thanks from MaryAnne

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    Veteran Member Southern Dad's Avatar
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    Caterpillar was founded out in Peoria. It didn't move to the suburbs.

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    Veteran Member Dr Sampson Simpson's Avatar
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    Many companies live in big cities, especially high tech companies. That is where they have access to the educated and skilled workers, and a better infrastructure to support it.

    And with farming equipment getting more and more technical, with self driving equipment, they need highly skilled workers. Young, highly educated people more often will prefer city life to a smaller town life

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