The Detroit News reports that Comerica Inc. announced yesterday that it will move its headquarters from Detroit to Dallas. The bank says that only 200 jobs will move, leaving about 7,300 Comerica employees in Michigan (read Comerica’s full media release). The News includes a timeline that takes you from the 1849 founding of the Detroit Savings Fund Institute to the 1956 formation of the Detroit Bank & Trust Co., the 1982 change to Comerica Inc. and the 1998 deal for naming rights to the Detroit Tigers field, Comerica Park. …and hey, do we get to call it “Tiger Stadium” again?
The answer, according to this article in Crain’s Detroit Business, is that Comerica Park will likely keep the name. They also have extensive coverage of Comerica’s HQ move. Speaking of Crain’s, Voice of America quotes Keith Crain, who is also the publisher of Automotive News magazine as saying that Detroit and Michigan’s decline is far from over.
“Unfortunately the governor of our state and the legislature have not done a good job in trying to create the right environment for business growth in our city,” he said. “Right now they are debating about new taxes that will be devastating for a lot of companies and in my opinion will encourage even more companies to leave.”
Governor Granholm issued a statement that says it’s more important than ever to invest in education, provide affordable healthcare and to diversify our economy. L. Brooks Patterson says this screams for tax reform and business reform in Michigan. I looked around for what bloggers were saying but to tell the truth, there wasn’t much.