Billion dollar investment firm Smead Capitol Management announced they are moving their headquarters from Seattle to Phoenix.

According to FOX Business Network the CEO says there is no downtown business community in Seattle where they are located and recruitment is harder in Seattle. The cost of living inside the city is higher than Phoenix.

Smead CEO Cole Smead told KTAR, “The unrest that has taken place in the city of Seattle… there is really is not a downtown business community today.”

Smead added, “My biggest concern for Seattle was what the business community is going to come back to, and what kind of businesses are going to come back for customers.”

Via Varney and Co.:

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