As Businesses Flee The Violence, Will Major U.S. Cities Be Transformed Into Economic Wastelands?
Urban communities all over the U.S. are now facing the possibility of a mass exodus of businesses, and many local leaders are freaking out because they realize what such a mass exodus will mean for their cities. In the aftermath of George Floyd’s death, peaceful protests were held in more than 300 cities all across America, and a recent CNN poll found that 84 percent of all Americans supported those peaceful protests. Unfortunately, rioting, looting and violence also erupted in major cities from coast to coast, and very little was done to suppress that violence. As a result, the core areas of many of our largest cities now resemble war zones, and in the months ahead there will be a constant threat that the violence could flare up again at any time.
Needless to say, many businesses that have been torched or looted are going to be extremely hesitant to rebuild and start over in the same location when the same thing could easily happen again.
For example, one manufacturing company that proudly operated in the heart of Minneapolis for a long time has already made the decision to leave the city for good…
The owner of a manufacturing company based in Minneapolis has decided to move his factory after law enforcement was unable to protect the plant from burning during riots.
The plant shut down early in anticipation of the second night of riots and to ensure the safety of employees, the Minneapolis Star Tribune reported. President and Owner of 7-Sigma Inc. Kris Wyrobek said a production supervisor and maintenance worker who live near the plant kept watch over the business and reported a fire at an apartment complex next door.
And in Chicago, Mayor Lori Lightfoot is saying that it will require a “Herculean effort” to prevent a mass exodus of businesses from happening…
Chicago Mayor Lori Lightfoot said it would take a “Herculean effort” to keep businesses open in disadvantaged neighborhoods after looting and damage that occurred during the first weekend of protests following the death of George Floyd.
“I’ve been on calls and text messages with people all day who fought hard to bring economic development to areas of the city, only to see the Walgreens, the CVS, the grocery store, everything vanish in an eye blink,” Lightfoot said on a May 31 call with distraught aldermen. “It’s going to take a Herculean effort on the part of all of us to convince businesses not to disappear, to come back. We’re prepared to fight that fight.”
Perhaps if a “Herculean effort” had been made to prevent the violence from happening in the first place, Chicago and other major cities would not be facing such a crisis today.