Cost Of Living As A Factor In Business Relocation
Topics: Business Relocation, relocate, quality of life, living, relocating
According to the United States Census Bureau, 40 million Americans move each year. There are no hard statistics on the number of businesses that relocate, but there is a growing trend towards businesses relocating outside of major metropolitan areas to cut costs for themselves and their employees.
There are five main reasons why companies decide to relocate, according to economic development researchers. They are: access to a quality labor pool, the need to upgrade facilities or equipment, the need to reach new markets, the wish to lower costs and overhead and finally, quality of life issues.
It is this last item that affects employees most directly. Cost of living has a large impact on the quality of life for the average American. For example, the cost of living in Springfield, Missouri is estimated to be just 60% of the national average. Compare that to a large metropolitan area like Miami where it costs 113% more that the national average. Larger cities like New York, Boston and Los Angeles are almost off the map compared to the national average.
Quality of life isn’t just about money, either. Commuting time and costs in larger metropolitan areas can seriously affect the mood and morale of workers as well as lead to lower productivity over time. The cost of housing can also affect the ability of companies to attract and retain quality employees. For example, some employers in Palm Beach County, Florida, where the median home price is over $450,000 have had trouble recently in recruiting employees from out of state.
However, when businesses consider relocating to less expensive, less congested areas of the country they have to consider access to a quality labor pool. There are many cities in the Midwest and South that are large enough to support a corporate headquarters, but often do not have the highly trained workforce that is required. Community colleges and local workforce development agencies are working to correct this imbalance but it may be many years before skilled labor is available in many of those places.
There are certain cities that have thrived due to their combination of both high quality of life and available skilled workforce including Austin, TX, San Antonio, TX; Orlando, FL; and Nashua, NH. These cities continue to grown economically while larger cities such as New York, Boston and Los Angeles continue to lose businesses to either the suburbs or smaller cities.
Jonathon Hardcastle writes articles for businessworldnow.net – In addition, Jonathon also writes articles for irealestatecentral.com and thebusinessbuzz.net
Previous Articles Highlighter:
The Importance Of Articles In Web Promotion (1)
Make sure the articles are useful, and not just promotional sales letters. They don't have to be long, 1-2,000 words is usually adequate as a maximum length for an article, but don't just publish sales blurb.
The Alaska Adventure (2)
Located on the northwest tier of North America and being the largest U.S. state in area, although the least populated one, Alaska is one of the greatest places one could visit to get a sense of nature's wilderness.
13 Questions Every Home-Based Business Owner Must Ask Themselves (3)
Some people find it's easy to get hooked on game shows or soap operas. In fact, some people claim they work best while watching TV. Others can't work well with the television on but get hooked nonetheless.
Starting Out? - Main Common Niches For Your Home Based Business (4)
By setting up your own home business, you can help others looking for options for having a home based business. You could be an affiliate with various programs for earning money at home.
5 Promotional Strategies That Will Guarantee Increased Traffic To Your Website (5)
There is a common misconception that you can earn instant cash in internet marketing. As a result, people give up easily and quickly. At the start of your internet marketing business, you will need to set out your goals and the action plan for achieving these goals.
Hiring Employees: Checking References To Insure Quality People (6)
Generally, the investigating party is referred to a personnel department, which supplies dates of employment, title and salary - nothing more. There are ways to dig deeper, however. Try to avoid the human resources department if at all possible.
Internet Marketing With A Laid Out Strategy (7)
You are simply throwing your money away. So, which marketing strategies actually work? There are proven marketing strategies that can guarantee you success in internet marketing if you apply them consistently.
Green Openwork Basket For Violets (8)
2 rattan, An iridescent glass bowl. Nothing could be more harmonious than the cool green of this open-meshed basket enclosing an iridescent glass bowl filled with violets. The basket is dainty, yet very simply made.
The Incredible Four: 4 Underestimated But Effective Ways To Really Grow Your Online Business (9)
Your list is your best asset - show it that you care by keeping in touch and also making some good free offers to them. It pays to send some regular 'non-selling' emails that can also be offering some free tips and ideas.
Home Business Resource - What You Will Need To Start A Successful Business (10)
Be professional! The way you run your business and relate to your customers is very important. Be prepared to 'go the extra mile' with your customers. Care about your customers, and provide all the information they may need.
Newer Articles Highlighter:
You Can Stick To Your Budget (1)
Experts surmise that people simply don't pay as much attention to totals as they do when they have to count out actual money. But resist the temptation to withdraw funds $20 at a time.
Risk Still Makes History (2)
Thus, I decided to explore its online versions and to my astonishment I found that many websites were devoted to the "Risk" game experience. I found out that these were created by "Risk" funs and I am currently exploring most of the websites in quest of another "crazy" fun like myself.
Giving Your Bathroom A Makeover (3)
Finally, keep your bathroom organized and clean. Numerous scattered items give a feeling of clutter and do not help you enjoy this room of your house. Furthermore, select towels and bathrobes that are soft and fluffy.
Most Commonly Kept Pets (4)
Topics: Pets, dogs, monkeys People have found shelter and comfort in pets since the beginning of time. Animals have been man's best friend, protector and a source of great pleasure.
Ways To Save Money Grocery Shopping (5)
Do your best to avoid impulse buys, since they are usually unnecessary and costly. - Red meat can be very expensive. If you're looking for ways to get your protein intake without spending a whole lot of cash, it may be your best bet to avoid red meat, opting for poultry, tuna, peanut butter, and eggs instead.
The Employment Effects Of FDIs (6)
Added compensation and promotion costs may negate any external cuts advantages obtai ned from access to cheaper foreign capital. Additionally, in many instances, the local competition also has access to that cheaper capital.
Visit The Supermarket Well Prepared (7)
Actually, people that have witnessed the effects of shopping while hungry suggest to others that their grocery shopping experience can become easier if they start by developing a healthy foods grocery list.
Selling Your Home (8)
Of course replace the light bulbs if they are burned and steam clean the carpets to renew them. Finally, remember to replace any missing or damaged tiles and have your bathrooms sparkle as well as your kitchen.
Buying Your First House (9)
Furthermore, even the interest rates of your house mortgage are kept in low levels (around 7 percent) for a fixed-rate of a 30-year loan, transforming your home loan to your least expensive one.
The Shore Is Close (10)
In fact, while he was trying to get the engine to start, my brother and I held the oars and tried to pull them together towards the shore. When my father was in charge, we were almost hanging from the boat and assisting his efforts using our hands as two extra oars, one from each side of the boat.
Permalink to Cost Of Living As A Factor In Business Relocation