Minneapolis is far from fully recovered from the riots of last year. Now the city is getting smacked again.
Target has announced that they are moving their headquarters out of the city.
That means a lot of jobs are leaving the city as well.
The Foundation for Economic Education reports:
Target Announces It’s Abandoning Its Minneapolis City Center Headquarters. Here’s Why It’s No Surprise
Target Corporation, the eighth largest retailer in the United States, announced in an email to employees on Thursday that it will be leaving the City Center, its primary downtown Minneapolis location.
Company officials cited improved remote work opportunities and less need for space as the drivers for the decision.
“In just one year we’ve proven that we can drive incredible results, together, from our kitchens and basements and living rooms,” said Melissa Kremer, executive vice president and leader of Target’s human resources operations.
Target, the largest employer in Minneapolis with some 8,500 corporate workers, says the 3,500 employees who work at the City Center will still have a “home base,” but it will be at another Minneapolis location or in the nearby suburb of Brooklyn Park…
Part of that shift, it’s reasonable to assume, would be corporations moving away from high-end corporate real estate. Yet it also shouldn’t be forgotten (or ignored) that Target’s decision comes less than a year after Minneapolis suffered some of the worst riots in US history, prompted by the May 25 death of George Floyd.
This is likely not the end of this trend but just the beginning.
.@Target has announced in an email to employees that it will be abandoning its primary downtown Minneapolis location. Businesses in the city have suffered immensely following BLM-antifa race riots last year that may erupt again over Chauvin’s trial. https://t.co/chaaCFMJoN
— Andy Ngô (@MrAndyNgo) March 24, 2021
A horrible, HORRIBLE sign for urban centers.
Target's home in the Twin Cities is a landmark, in some ways. Just abandoning it (for very reasonable reasons!) spells doom. https://t.co/6PZcsflNXl
— Pradheep J. Shanker (@Neoavatara) March 24, 2021
The city did a horrible job protecting businesses during the riots.
What should they expect?
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