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Corporate HQ Relocation

by: Tracy King Sharp 04/22/2017

In the past, corporate headquarters relocations were rare but in the current improving economy, the relocation of a headquarters has become more financially feasible. There are many reasons that a company may consider relocation of its corporate headquarters including costs, creating efficiencies or synergies in their operations through consolidation, new opportunities to attract and retain talent, among many others. There has been a recent trend of relocation of corporate headquarters from a more suburban environment to a more urban environment. The driving factor behind this trend is the attraction of talent focused on the fact that the growing millennial workforce tend to want to live in more urban environments that provide more entertainment options, access to public transportation and other amenities. Incentives also play a role in the relocation of a corporate headquarters as costs is often a driving factor, and most states and localities will offer competitive incentives to attract a corporate headquarters that brings high-paying jobs to its jurisdiction.

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