The top US cities for Fortune 500 company headquarters, COVID-19 edition

In an article about working remotely, the Wall Street Journal included this graphic about the locations of the headquarters of Fortune 500 companies:

Fortune500HQLocations

This is an interesting topic to raise as more workers are laboring away from the office. What will happen to headquarters?

One option would be that headquarters remain even as organizational workforces scatter. There will always be a need to at least occasionally hold meetings or access resources or project a presence in a major city. Cities would like this as headquarters are a status symbol.

Another option is that headquarters move to locations more central to their workers or more attractive for workers. This is more unlikely but the same factors pushing workers away from major cities – high housing costs, traffic and congestion, density with threats of pandemics – could affect headquarters as well. It could be a big strategic move to follow workers to a city not on the list above.

The effects of either could be big for cities. Consider New York. It is the clear leader in terms of headquarters, it is a leading global city, and it is not just a center for business but also for news, entertainment, the arts, and other spheres. Even if the headquarters stay, the loss of high-status employees hurts. If the headquarters leave or become shells of themselves, there could be a loss of status.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s