US headquarter job growth eases pain for struggling metros
Metros that are home to a large share of headquarters saw higher growth in headquarter-specific jobs than in other sectors. But while some have thrived, most metros known for their large headquarter companies have generally trailed the US on total job and GDP growth. Many of these struggling metros, located in the Northeast or Midwest, have suffered from a legacy of manufacturing job losses. However, the growth in headquarter jobs within these metros helped mitigate job losses.
What you will learn:
- Over the last 10 years, job growth within the “management of companies” or headquarter sector exceeded total job growth in nearly every metro that has a large share of headquarter jobs.
- Outperforming headquarter metros include some with prominent companies—Atlanta (CNN, Coca Cola, Delta), Charlotte (Lowes, Honeywell), Portland, OR (Intel, Nike), Fayetteville, AR (Walmart), and Lakeland, FL (Publix). All of these enjoyed total job and GDP growth that consistently exceeded the US average and most are expected to continue to do so.
- However, of 27 metros identified as having a large share of headquarter jobs, only seven have outperformed the US on total job growth over the last ten years, while just eight have outperformed on GDP growth. This trend is expected to continue over the next few years.
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