ConAgra announces headquarters is moving to Chicago

[Omaha Steve]

Source: Omaha World Herald

By Russell Hubbard and Barbara Soderlin

ConAgra Foods said Thursday that it plans to move its headquarters to Chicago, while cutting 1,500 jobs from the total company payroll and keeping about 1,200 jobs in Omaha.

Omaha-based ConAgra said the moves are designed to achieve cost savings of $300 million as it remakes itself under pressure from investors.

The move cuts the roster of Fortune 500 headquarters in Omaha to four. ConAgra has called the city home since 1922 and recently employed about 3,000 workers in the area.

The maker of Wesson oil and Pam cooking spray said it would maintain Omaha jobs in research and development and administration.

FULL story at link.

Here is the AP story: http://apnews.excite.com/article/20151001/us--conagra_foods-job_cuts-d886d8e4a1.html

Read more: http://www.omaha.com/money/conagra-announces-headquarters-is-moving-to-chicago/article_40ef4148-6798-11e5-8f93-9bea8a0abeb2.html

[mucifer]

1. It's another race to the bottom tax breaks for corporations.

My state needs jobs. But, we also need tax money and they won't be paying it.

[CatholicEdHead]

2. Bigwigs have more to do in Chicago than Omaha

They can hang out with other large C-Level people, international connections, cultural opportunities. Omaha cannot compete.

[NewJeffCT]

4. still, they are moving from a very red state in Nebraska

to a blue state and city in Chicago, Illinois.

I'm guessing that Chicago is also a more expensive place to live than Omaha and that employees will need to be paid a little more as well. So, it's a good thing that they're moving to an area that is probably higher cost - though, having one of the biggest and busiest airports in their backyard will probably cut down on travel/transportation costs.

[Javaman]

3. what surprises me is that they aren't moving to Dubai. nt

[Snarkoleptic]

5. When a city or state lures businesses with 'tax bait', we all lose.

Plus when you win them with freebies, you lose them with freebies.
Sears comes to mind as they were lured to Hoffman Estates, IL from downtown Chicago. As soon as the tax breaks were due to expire, they began whining that they needed them extended or would have to move elsewhere. My son was in a school district that was affected by this tax-bait scheme and the revenue was sorely missed.

Predictably, Omaha is now in a bidding war to try and keep Conagra-

Meanwhile,Omaha isn't giving up without a fight. The Omaha World-Herald this afternoon quotes Nebraska Gov. Pete Ricketts (brother of Chicago's own Tom Ricketts) as saying his administration is "willing to work with (ConAgra) in whatever way necessary" to keep the headquarters in the Cornhusker State.

http://www.chicagobusiness.com/article/20150929/BLOGS02/150929813/rauner-sweetens-the-deal-to-lure-conagra-now-what

[dbackjon]

6. Sad. At least they didn't move to Texas

[whatthehey]

7. I've worked for several companies with "Headquarters" in Chicago and NYC etc

But it's always been just the C suite and the sales and marketing leadership with maybe a few analysts. It's all about image and easy flights not just for the execs but for people coming to see them.

In each company manufacturing and operations, even to VP and EVP levels, stayed in flyover country where space and entry level labor is much cheaper.