11/13/2023 0 Comments Lazarus macy department storesIt’s always a wake-up call,” said former Cincinnati Councilman Jim Tarbell. The impact of Macy’s announcement came into focus Wednesday as people who relied on the venerable retailer digested the news. This has everything to do with Macy’s having to cut costs and be viable.” They realize Macy’s consolidating its headquarters operations into New York City is not an indictment on Cincinnati. They can walk and chew gum at the same time. “Cincinnati still has a reputation as a head-office city, especially within the context of the Midwest,” he said. ![]() because of the cut in the corporate income tax rate and their desire to do business with the federal government.”īoyd said Cincinnati hasn’t lost its luster as an HQ city despite the loss of Macy’s and the recent acquisition of AK Steel Corp., two of the region’s coveted Fortune 500 companies. “The pharmaceutical industry, also advanced manufacturing, companies are re-shoring operations back to the U.S. “There are a number of exciting projects, particularly in the banking and finance sectors, as companies continue to decentralize away from high-cost banking hubs like New York and Chicago, San Francisco,” he said. Cincinnati could be in a good position to capitalize on the trend. ![]() “(The) headquarters building Downtown will be a very compelling carrot to attract another corporate headquarters or major office presence,” said John Boyd, principal of Boyd Company Inc., a site-search consultant in New Jersey.Īlthough Macy's left for New York City, Boyd said other companies are actively looking to place jobs in lower-cost cities.
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