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Headquarters, Office Employment, and the Wave of Urbanization in the New York City Region

Leon Shilton and James R Webb

The Journal of Real Estate Finance and Economics, 1995, vol. 10, issue 2, 145-59

Abstract: Hierarchical theory suggests that high-density office activity, such as corporate headquarters, epitomizes the concept of agglomeration. This research tests whether office employment in a metropolitan area agglomerates around suburban nodes of specialized office and corporate headquarters activity or if office employment change shifts in response to the wave of urbanization. The location of the Fortune 500 manufacturing and service headquarters and the ratio profiles of office employment within each county are used in the test. We conclude that headquarters are not located in specialized office employment nodes. Rather, the office employment becomes specialized as the county becomes more urbanized. Copyright 1995 by Kluwer Academic Publishers

Date: 1995
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The Journal of Real Estate Finance and Economics is currently edited by Steven R. Grenadier, James B. Kau and C.F. Sirmans

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