(photo courtesy of the Los Angeles Times)
Nestle USA, a subsidiary of Swiss-based Nestle S.A. currently based in downtown Glendale, where it has been since the late 1980s, has announced it will move its U.S. headquarters from Glendale, California to Rosslyn, Virginia. Nestle has been flirting with abandoning California for years due to its large operations to the east and the desire for consolidation. Although the City would have entertained negotiations with Nestle, the City only became aware of their desire to move via media outlets such as the Washington Post, explaining their desire to be closer to their operations and “stakeholders in Washington and on Capitol Hill.”
According to published reports, there are 1,200 employees at the facility in Glendale. The reports state that some 750 jobs will go to the new Virginia headquarters, 300 will go to facilities in Ohio, and the remaining 150 will go to other Nestlé facilities, mostly to Purina in St. Louis. The dynamic California economy will be the major driver in absorbing those workers that decide not to move – it’s our economy that sets the pace for America. For Glendale’s part, Nestle’s departure is seen as closing a chapter and opening doors to future opportunities to re-tenant the space with forward-looking businesses that have a bright future.
With a low cost of doing business, a close proximity to the greater Los Angeles area, nearby freeway access, and cohesive clusters, Glendale continues to be a center for growth and opportunity – attracting 1,029 high tech firms with 41,168 people employed by them, Nestle’s move from Glendale is going to provide the opportunity to attract additional tech companies and tenants that will enhance our community further. The Class A office vacancies in Glendale are currently at a low of 10.3% and overall sales tax revenues are up in Glendale - demonstrating both the strength and potential of the Glendale market. Most Business Friendly City.
Glendale has taken major steps to reinforce economic vitality as a priority. The City will continue to foster an unparalleled and collaborative environment and ensure the success of the Glendale business community.
Read more about Glendale’s Tech Strategy here.
Check out Glendale’s 18 hour day in the Downtown District.
MyGlendaleCityNews is your online hub for all official Glendale news and updates. We're dedicated to informing and entertaining readers by showcasing all Glendale has to offer from a local government, cultural and business perspective.