When Landing founder and CEO Bill Smith relocated the company to his hometown of Birmingham, Alabama, Governor Kay Ivey offered the company tax breaks in exchange for the promise of 816 local jobs.
Landing founder Bill Smith at the company’s Birmingham, Alabama, headquarters. The October layoffs cut some 30% of its workforce in the southern city.here was such fanfare when Bill Smith, founder and CEO of furnished apartment rental firm Landing, relocated the company’s headquarters to his hometown of Birmingham, Alabama, from San Francisco in June 2021 thatfeatured Gov. Kay Ivey, who offered tax breaks in exchange for Landing’s promise of 816 local jobs.
For Birmingham, a city of 200,000, each startup that chooses to relocate or set up shop there is a big deal. The city, once an epicenter of the steel industry, has struggled to rebuild its downtown where vacant lots sit blocks away from bank headquarters and gleaming office buildings. The city was aand has been working to lure more tech firms ever since. “A lot of excitement about Landing in the Magic City,” CBS 42 anchor Sherri Jackson said in a TV segment at the time of Landing’s relocation.
When Landing relocated its headquarters from San Francisco to Birmingham in June 2021, Alabama Gov. Kay Ivey was there. The state offered tax incentives to the company based on hitting employment targets.“The layoffs announced have been represented as a restructuring of centralized operational positions into decentralized regions within the markets Landing is serving,” Canfield wrote.
Smith, 36, made a fortune with his previous business, online grocery delivery service Shipt, which he sold to Targetfor $550 million in 2018. He founded Landing in 2019 to appeal to people who wanted the flexibility to live in different places—and to move easily. Its members, who pay $199 a year, have fast access to move-in-ready apartments with the flexibility to rent for as little as one month. Its own employees were required to work in the office.
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