When big corporations move their headquarters, it's interesting to read the press coverage in both the winning and losing towns
In December, it was announced that Norfolk Southern railroad is leaving Norfolk ("Real damage from Norfolk Southern's departure may be to Hampton Roads' image," Experts still hopeful about downtown despite loss of Norfolk Southern," and "Virginia, Norfolk may seek up to $4 million refund over broken promise as Norfolk Southern move advances," Norfolk Virginian-Pilot) for Atlanta ("Norfolk Southern CEO confirms HQ move to Atlanta," Atlanta Journal-Constitution).
Today it was announced that SunTrust Bank of Atlanta ("New details, reaction to SunTrust merger with BB&T," AJC) is merging with BB&T, consolidating in Charlotte, North Carolina ("BB&T, SunTrust announce blockbuster merger as Charlotte gains a new bank headquarters," Charlotte Observer), with BB&T relocating from Winston-Salem, North Carolina ("BB&T buys SunTrust in $66 billion deal; combined bank to move HQ to Charlotte," Winston-Salem Journal).
Labels: business recruitment and retention, corporate headquarters, economic development planning
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