Wednesday, June 08, 2011

New York Likely To Win Back UBS, Affirming The City's Strategy To Focus On Residents--First.

In recent years, NYC has more than got it's groove back as a home for corporate headquarters as more firms find the city's central convenience to more than offset other costs. Even more important in recent years has been that large numbers of their best employees and prospects want to live in or closer to the city.

“A key piece of the mayor’s economic strategy has been to make New York City a place people want to be,” Deputy Mayor Robert K. Steel said, “and more than ever the city is the ideal location for any company, like UBS, that succeeds by attracting a talented, motivated work force.”

A UBS trader in his 20s said that like many of his peers at the firm, he would have preferred a job in New York City, where he lives.

“I mean, it’s annoying,” said the trader, who asked that his name not be used because he was not authorized to speak about the possible relocation. “I take Metro-North. I live pretty close to Grand Central, so it’s not a terrible commute. But it’s not ideal.” The trip takes about 45 minutes to an hour, depending on how many stops the train makes."

How could Stamford lose with an awesome attractive asset like I-95 slicing the city in half--and all those super attractive parking garages? Yuk!

To be honest, the city still does lose some back office space to suburban locations--but other departures tend to be towards the New Jersey waterfront, which is much more like an urban, transit oriented extension of the city itself.

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