Two weeks ago it was the Boston Globe with a nice op ed piece on what a great city Grand Rapids, Mich. is and how the coastal cities could take a cue from the Midwestern cities and what they have to offer. (See my previous blog)
Now, dateline, July 11,2007 in the NY Times has an article on the Health Mecca known as Pill Hill in Grand Rapids. I said it before and I'll say it again. It was just a matter of time. With a depressed residential Real Estate Market, high unemployment and enough good things despite the weather, going on in West Michigan, it is only a matter of time before Fortune 500 companies realize what this area has to offer.
If I were a CEO, CFO, or on the Board of Directors at a high tech company like Microsoft, or IBM, I would look at this area and say, "Gee I could open a headquarters for half the cost of the west or east coast, get reliable hard working help locally, relocate employees to an area, decrease wages, but at the same time, increase their overall quality of life by providing low cost of living and very affordable real estate. Why shouldn't I?"
Now the reality is currently, for all of the good that the namesakes of all the development and buildings in Grand Rapids, there is one shortfall. The companies, for the most part are privately held. I still maintain Fortune 100 to Fortune 500 investments is still needed to put Grand Rapids on the map. It will come, be patient.
Practice your Real Estate in this market, and be prepared for the windfall when the tide rolls back in.
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