Category: Domestic Relocation

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Choosing a Relocation Company Corporate Relocation Domestic Relocation Global Mobility Global Relocation Relocation Best Practices Relocation Management

Advantages of Creating Competition Between Suppliers for Relocation Services

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Two serious caucasian men in suits discussing or planning business issues in the office. Colleagues or client and consultant are sitting at the table next to each other and talking.

GMS Always Fields Multiple Bids from Suppliers on Key Services

No one wants to pay more than they need to, this is especially true when it comes to the outsourcing of employee relocation services to a Relocation Management Company (RMC). Cost is generally the #1 driver of any procurement process, and it is wise to ensure you’re getting the most for your money before you sign on the dotted line. While saving money is a no-brainer, have you considered what steps your RMC is taking to ensure they deliver on cost savings for your relocation program?  

Many relocation companies have their own supplier base. These suppliers may consist of critical (and expensive) services, such as household goods transportation companies and temporary housing agencies. It is important to understand how your relocation company is leveraging these suppliers to reduce the impact of these services.

GMS Process to Keep Relocation Costs Down

Global Mobility Solutions, like most relocation companies, has its own, trusted network of suppliers. However, our network model is different due to our Multiple-Bid Process on key services. This process creates ongoing competition between our suppliers which ultimately results in lower prices and major relocation cost savings for our clients’ overall mobility spend. 

So how does it work? GMS analyzes each relocating employee’s unique needs, develops a service delivery plan, and then reaches out to at least two different suppliers for bids on key services. The suppliers’ estimates are audited for accuracy and submitted to you for final selection and approval based on the criteria most important to your organization. It should be noted that these are not just random or first-time suppliers who place bids with GMS. Each supplier is trusted and vetted by our network management team to ensure great service and competitive pricing. The process also allows us to develop creative service strategies to address every unique relocation need from each transferee. 

What makes GMS different is our independence and transparency in our supplier selection process. As we are not affiliated with any of our suppliers (van lines, corporate housing, real estate, destination services, immigration, or otherwise) we can subjectively vet our supplier base, ensuring the best possible quality for the best possible price across all of our key services. Some RMCs own or are owned by the suppliers they utilize which prevents the ability for true competition amongst the sub-suppliers servicing your account.

Additionally, GMS benchmarks and reviews our supplier pricing and negotiated rates on a quarterly to annual basis to ensure competitiveness by service in your specific relocating markets. These two features provide GMS clients with an umbrella of cost savings coverage while enhancing the quality of each relocation.

Let GMS Provide Relocation Services for Your Company

Operating a workforce relocation program can be expensive, but in many cases, it’s the best way to ensure your organization remains competitive in the acquisitions of talent to fuel your ongoing success. To have a better shot at cutting down relocation costs during the process, it is important to ensure your RMC utilizes a competitive bid process between suppliers on key services, such as household goods transportation, corporate housing, and more. Competition is always good for the consumer, driving down prices and increasing quality. GMS ensures the best price possible 100% of the time. For more information on corporate relocation services and program management from GMS, reach out today to schedule a call with one of our qualified team members.

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Choosing a Relocation Company Corporate Relocation Domestic Relocation Global Relocation Tips

Corporate Relocation Incentives Driving Economic Development

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Downtown Denver, Colorado, USA Drone Skyline Aerial Panorama.

In the past year, the global mobility industry has seen noticeable increases in state and local governments offering enticing relocation incentives to draw economic development and add to growing employment numbers. But how are these incentives helping companies recruit new talent to relocate? And how do transferees and companies take advantage of these incentives? 

Working with a corporate relocation services company can help make sure that you are getting the most out of the available relocation incentives. There are various incentives for those looking to perform group moves or office moves from state to state. Understanding these plans and policies is the first step in taking advantage of them. 

Here we have broken down some of the relocation incentives in 3 quickly growing states. All of these states are seeing an increase in population due to incentives and business-friendly environments, and these numbers should continue to grow as work from home precautions begin to end for in-office positioned employees.

Attracting Companies and Talent

Many states have heavily invested in development strategies that are solely focused on attracting companies within specific industries into relocating their operations to their state. Commonly targeted organizations reside in high revenue/high wage industries, such as technology, R&D, and manufacturing companies. State relocation incentives are often rich with benefits, making it difficult for companies to ignore. Let’s use Colorado, Arizona, and Texas as gleaming examples. Each of these states has focused on developing partnerships focused on attracting and relocating companies to their particular states and municipalities, in hopes of bringing in more revenue and tax dollars to the state.

Key Colorado relocation incentives:

  • Job Growth Incentive Tax Credits – A performance-based state income tax credit equal to 50% of the FICA paid by a business, based on the net new growth from jobs created
  • Strategic Fund Incentives – A cash payout based on wage levels of the net new jobs created
  • Location Neutral Employment – An incentive that combines Job Growth Incentive Tax Credits and a Strategic Fund Incentive 
  • Training Grants – Reimbursement of job training designed to increase transferable skills to enhance long term employment opportunities
  • Industry Accelerated Grants – A collection of grants that promote growth and sustainability

Key Arizona relocation incentives:

  • Quality Job Credits – Up to $9,000 in tax credits over 3 years for each new qualifying job
  • Training Grants – Up to 75% reimbursement of job training per employee and up to $8,000 for each new employee in a rural area
  • Facility Tax Credits – 10% of capital investment, up to $20,000 per qualified job created in manufacturing or R&D
  • Research & Development – An income tax credit for R&D (24% for first $2.5M, plus 15% in excess of $2.5M) 

Key Texas relocation incentives:

  • Enterprise Project – If project investment is equal to or greater than $5 million or more,  then refund amount is up to $2,500 per job up to a maximum of 500 jobs created/retained
  • Double Jumbo Enterprise Project – If the project investment amount is equal to or greater than $150 million and less than $250 million, then the refund amount is $5,000 per job up to a maximum of 500 jobs created
  • Triple Jumbo Enterprise Project – If the project investment amount is equal to or greater than $250 million then the refund amount is $7,500 per job up to a minimum of 500 jobs created. The maximum refund available is $3.75 million

Weighing the Benefits

While most of these incentives are not lucrative enough to make a company want to move on the spot, they do serve as added bonuses to those companies that are actively looking to make a move within the next year or two. The next question becomes how do you know you’re making the best relocation decision for your company and employees? Working with a certified corporate relocation services company will help to ensure that state economic incentives and your relocation strategy provide your organization with the advantages it needs to thrive and grow. . But what has to be considered when drafting up relocation policies and operation decisions? 

Establishing new operations or relocating existing ones is not an easy decision. Companies must weigh the cost/benefit of moving operations, in addition to the impact on employees. At GMS, we make every effort to support companies with the necessary analysis for informed decision-making. This may include salary and cost of living comparisons, housing evaluations and site studies, educational comparisons, pre-decision services, and more!

Why GMS Is the Answer

If you’re looking to take advantage of incentives for these states, or just collecting information in general for relocating employees, it is always a good idea to sign on with a proven and experienced relocation company. You’ll want to use a company that specializes in group moves and office moves. 

Global Mobility Solutions (GMS) is here to help you with all of your relocation services needs. Our team of experts holds over 20 relocation certifications and can assist with any kind of corporate move, no matter the scale. We also won’t blindside you with hidden or non-disclosed fees. All of our pricing is upfront and honest. Not to mention, we will tailor your policies and procedures to make sure your employees are maximizing any available state incentives, along with ensuring all of their relocation needs are being met. Our team can help you move to or from not just Arizona, Colorado, or Texas, but globally as well. 

Reach out to GMS today online if you’re ready to start getting info about working with a certified relocation services company. Or to speak to a team member directly, call 1-800-617-1904. 

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Domestic Relocation Domestic Relocation Challenges Domestic Relocation Tips Domestic Relocation Trends Relocation Best Practices Relocation Challenges

Top 5 Challenges Facing Companies with 1 to 25 Annual Relocations in the Post-COVID Era

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Photo of a delivery man lifting cardboard boxes from the back of his truck.

Companies with 1 to 25 annual relocations face a number of challenges for their relocation requirements. Many full-scale Relocation Management Companies (RMCs) provide a limited range of services for companies that annually move less than 25 employees. As a result, companies may face higher costs and lower levels of service for their relocation programs.

By comparison, GMS has extensive experience in working with clients that move less than 25 employees each year, making GMS the relocation industry expert. Choosing a relocation partner that specializes in working with companies that have lower volume programs will ensure successful relocations and the best possible employee experiences.

What are the Top 5 Challenges for Companies with 1 to 25 Annual Relocations?

The top 5 challenges facing companies with 1 to 25 annual relocations span the entire relocation process. Many of these challenges arise because some RMCs focus solely on companies that have large numbers of employee relocations.

Challenge #1 Lack of Performance Guarantees and No Quality Performance Metrics

Service level guarantees ensure clients receive the service they expect for their relocations. Some RMCs do not provide these guarantees to clients that move less than 25 employees

GMS SOLUTION: GMS provides a range of service metrics across all services, for all clients.

Challenge #2 High Fee Structures

Some RMCs charge companies that move less than 25 employees much higher fees to make up for lower margins and lower profits than they receive on their larger clients. Companies with 1 to 25 annual relocations are also less likely to need additional services. This results in lower revenues on additional services.

GMS SOLUTION: GMS offers a “One Fee Promise” for clients, ensuring fair and equal treatment.

Challenge #3 1 to 25 Annual Relocations Receive No Choice in Supplier Vendors

Many RMCs require their clients to use the RMC’s own network of suppliers under the guise of “economies of scale.” What this really does is drive more revenue and profit to the RMC, while the client ends up with no choice.

GMS SOLUTION: GMS features a Freedom of Choice™ model for all clients. GMS is not affiliated with any service provide, so clients have choices based on performance and savings.

Challenge #4 Limited Services

Some RMCs limit services to companies with 1 to 25 annual relocations. As a result, these clients must pay fees to other service providers to obtain valuable and necessary mobility services such as pre-decision/pre-hire, expense management, and travel coordination.

GMS SOLUTION: All GMS clients receive the same high level of service quality.

Challenge #5 Limited Funding Solutions

Most companies with 1 to 25 annual relocations must pay all (or most) of their relocation costs upfront. Then employees submit expenses for reimbursement. This process can take several weeks.

GMS SOLUTION: GMS lets clients determine the funding solution best fits their needs, including zero-interest options. Also, GMS provides a customizable invoicing schedule.

What Should Companies with 1 to 25 Annual Relocations do?

Companies with 1 to 25 annual relocations should choose to work with an RMC that has experience with clients who move less than 25 employees. GMS has ideal solutions that meet the common challenges these companies face.

Conclusion

Global Mobility Solutions’ team of corporate relocation experts has helped thousands of companies with 1 to 25 annual relocations understand why they should work with a relocation industry expert. We can help your company understand how benefit from all of the GMS solutions for your relocation program.

GMS was the first relocation company to register as a “.com.” The company also created the first online interactive tools and calculators, and revolutionized the entire relocation industry. GMS continues to set the industry pace as the pioneer in innovation and technology solutions with its proprietary MyRelocation® technology platform.

Powered by GMS’ 2020 Mobility Benchmark, the innovative GMS Program/Policy Evaluation (PPE) Tool provides instant relocation policy reviews. It also helps users gain insight into how their company’s relocation program compares to their industry peers.

Learn how GMS’ experience is best suited for your company’s 1 to 25 annual relocations. Contact our experts online or give us a call at 800.617.1904 or 480.922.0700 today.

We're Here to Help! Request a Courtesy Consultation

Are you ready to talk to a Mobility Pro? Learn how GMS can optimize your mobility program, enhance your policies to meet today’s unique challenges, receive an in-depth industry benchmark, or simply ask us a question. Your Mobility Pro will be in touch within 1 business day for a no-pressure, courtesy consultation.

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Domestic Relocation Domestic Relocation Challenges Domestic Relocation Tips Domestic Relocation Trends

Northwest Arkansas Moving Incentive Aims to Attract Talent

The Northwest Arkansas moving incentive is in place to attract top talent to the region. The Northwest Arkansas Council is investing over $1 million during a six month timeframe through their Life Works Here initiative. This initiative shows the types of desirable lifestyles and career opportunities available to residents of this region.

What is the Life Works Here Initiative?

The Life Works Here initiative is the Northwest Arkansas Council’s program to leverage the COVID-19 pandemic to benefit the region. Many companies with work from anywhere policies allow workers to relocate and work remotely. As more employees consider relocating away from high cost cities to lower cost cities, the Council believes the region has much to offer.

The initiative is funded by philanthropic support from the Walton Family Foundation. Remote workers will receive up to $10,000 to relocate to the region, along with some additional perks. The goal is to attract remote worker talent who have jobs in Science, Technology, Engineering, and Mathematics (STEM). However, that is a not a formal requirement for the Northwest Arkansas moving incentive.

What are the Eligibility Requirements for the Life Works Here Initiative?

Eligibility requirements for the Life Works Here initiative include:

  • Ability to relocate to Northwest Arkansas within 6 months of acceptance
  • Full-time remote employment or self-employed outside of Northwest Arkansas
  • Currently live outside of Northwest Arkansas
  • At least 24 years old
  • Eligible to work and live in the US

Career Opportunities Supported by the Northwest Arkansas Moving Incentive

Northwest Arkansas is home to the headquarters of three Fortune 500 companies:

J.B. Hunt: Lowell, Arkansas

Tyson Foods: Springdale, Arkansas

Walmart: Bentonville, Arkansas

In addition to these three major companies, there are thousands of smaller companies in the region that serve as suppliers.

Northwest Arkansas Moving Incentive Promotes Region’s Low Cost of Living

The cost of living in Northwest Arkansas is one of the lowest in the nation. By comparison, the cost of living in a major west coast city such as San Francisco is 169.3% higher than the US average.

For cities in Northwest Arkansas, the cost of living is much lower than San Francisco.

CityCost of Living
Lowell, Aransas12.1% lower than US average
Springdale, Arkansas14.0% lower than US average
Bentonville, Arkansas4.8% lower than US average

Source: Sperling’s Best Places: bestplace.net

With the cost of living lower than the US average, the region also has personal income per capita at 14% higher than the national average. The region also has over seven times the number of employees who work in management positions or at a corporate headquarters compared to the rest of the nation.

Smaller Regions Have More to Offer beyond the Incentives

The Northwest Arkansas moving incentive is one of many programs throughout the US designed to attract talent to regions far from major metropolitan centers. With more companies offering work from anywhere policies and more employees making the move, smaller regions stand to benefit. Many smaller regions in the US have burgeoning cultural centers and highly desirable outdoor lifestyles similar to Northwest Arkansas.

What Should Companies do about the Northwest Arkansas Moving Incentive?

Companies should work with a Relocation Management Company (RMC) that has knowledge and experience in managing relocation. Qualified RMCs will help companies understand the issues relating to work from anywhere policies. They will also provide useful resources to guide policy decisions and understand industry best practices relating to remote workers.

Conclusion

Global Mobility Solutions’ team of corporate relocation experts has helped thousands of our clients understand how to design a relocation policy that follows industry best practices that also promotes talent acquisition and retention. Our team can help your company determine how to address the Northwest Arkansas moving incentive as it impacts corporate initiatives.

GMS was the first relocation company to register as a “.com.” The company also created the first online interactive tools and calculators, and revolutionized the entire relocation industry. As a result, GMS continues to set the industry pace as the pioneer in innovation and technology solutions with its proprietary MyRelocation® technology platform.

Powered by GMS’ 2020 Mobility Benchmark, the innovative GMS Program/Policy Evaluation (PPE) Tool provides instant relocation policy reviews. It also helps users gain insight into how their company’s relocation program compares to their industry peers.

Contact our experts online to learn more about how the Northwest Arkansas moving incentive might impact your company and its workers, or give us a call at 800.617.1904 or 480.922.0700 today.

We're Here to Help! Request a Courtesy Consultation

Are you ready to talk to a Mobility Pro? Learn how GMS can optimize your mobility program, enhance your policies to meet today’s unique challenges, receive an in-depth industry benchmark, or simply ask us a question. Your Mobility Pro will be in touch within 1 business day for a no-pressure, courtesy consultation.

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Corporate Relocation Domestic Relocation Domestic Relocation Tips Domestic Relocation Trends Job Market

2020 Regional Competitiveness Score Shows Maricopa County Leads the Nation

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In the fifth annual Talent Attraction Scorecard published by Emsi, Maricopa County ranks #1 for its 2020 regional competitiveness score. This ranking is among large counties in the US, defined as having a population of over 100,000 residents. Interestingly, Maricopa County also held the top spot for large counties in 2017 and 2018, and the second spot in 2019. The metropolitan Phoenix market is attracting both businesses and talent at a healthy and self-sustaining rate of growth.

Top 10 Ranking

The top 10 large counties ranking highest for their 2020 regional competitiveness score include:

  1. Maricopa (Phoenix, AZ)
  2. Clark (Las Vegas, NV)
  3. Collin (McKinney, TX)
  4. Williamson (Georgetown, TX)
  5. Riverside (Riverside, CA)
  6. Denton (Denton, TX)
  7. Fulton (Atlanta, GA)
  8. Wake (Raleigh, NC)
  9. Montgomery (Conroe, TX)
  10. Lee (For Myers, FL)

Source: Emsi Fifth Annual Talent Attraction Scorecard.

Note that all of the top 10 large counties ranking at the top for regional competitiveness are in southern or western states. Texas in particular has four large counties that rank high for regional competitiveness.

Emsi defines regional competitiveness as the “job change that occurs due to factors within a region.” This is as opposed to impacts from trends outside the region such as national economic performance or any other influences. With its return to the top spot for 2020, it is clear that locating and growing a business in Maricopa County is a winning proposition.

Data Included in 2020 Regional Competitiveness Score

Emsi’s data analysis focuses on several important measurable factors including:

  • Educational attainment
  • Growth of jobs
  • Growth of skilled workers
  • Migration
  • Population
  • Regional competitiveness

The report highlights several positive trends for Maricopa County, including current business expansions and a tremendous 18% in the growth of skilled jobs. Expansions in semiconductor manufacturing are highlighted, including Intel Corporation’s newest investment, the Fab 42 plant. This single investment accounts for over 10,000 jobs in Arizona, including 3,000 high-tech positions at the facility. Additional jobs include support engineering, equipment technicians, facility management and maintenance, transportation, and administration.

Success in Several Industries Supports Maricopa County’s 2020 Regional Competitiveness Score

However, the 2020 regional competitiveness score recognizes much more success in businesses than just in the semiconductor industry. The report notes that Maricopa County’s success spans a wide range and depth of industries. Ultimately, the report points to a “positive feedback loop” that supports growth:

Existing talent in Maricopa County

Attracts

Company relocations and investments

Attracts

Additional talent to relocate to Maricopa County

This feedback loop results in greater growth overall for Maricopa County and its several cities. For example, the city of Scottsdale has ranked at the top of the list for the 2020 USA job market. As business and jobs grow, so does the need for housing and infrastructure. According to Sperling’s Best Places, future job growth in Scottsdale is predicted to be higher than the US average.

What Should Employers do Regarding the 2020 Regional Competitiveness Score?

Employers should look into the data prepared by Emsi and other organizations such as the Greater Phoenix Economic Council (GPEC). The data may support a strategic relocation to Maricopa County or an expansion of current facilities located in the county. Recently GPEC reported 89 different companies looking to relocate to the Phoenix metropolitan area in their October 2020 Prospect Overview.

Many of these companies are looking to benefit from a lower cost of living, less taxes, and business-friendly policies. As a result of Maricopa County’s top ranking 2020 regional competitiveness score, these companies will also benefit from the county’s job growth, a growing and highly educated workforce, and positive inbound migration of skilled talent.

Conclusion

GMS’ team of domestic relocation experts has helped thousands of our clients understand how to find information on highly desirable areas for business relocations and group moves. Our team can help your company understand how the 2020 regional competitiveness score can lead to a successful business relocation with many benefits for both employers and employees.

GMS was the first relocation company to register as a “.com.” The company also created the first online interactive tools and calculators, and revolutionized the entire relocation industry. GMS continues to set the industry pace as the pioneer in innovation and technology solutions with its proprietary MyRelocation® technology platform.

New SafeRelo™ COVID-19 Knowledge Portal

GMS recently launched its new SafeRelo™ COVID-19 Knowledge Portal featuring a number of helpful resources including:

  • Curated selection of news and articles specific to managing relocation programs and issues relating to COVID-19
  • Comprehensive guide to national, international, and local online sources for current data
  • Program/Policy Evaluation (PPE) Tool for instant relocation policy reviews

Learn best practices from Global Mobility Solutions, the relocation industry and technology experts who are dedicated to keeping you informed and connected. Contact our experts online to discuss your company’s interest in learning more about the 2020 regional competitiveness score for Maricopa County, or give us a call at 800.617.1904 or 480.922.0700 today.

We're Here to Help! Request a Courtesy Consultation

Are you ready to talk to a Mobility Pro? Learn how GMS can optimize your mobility program, enhance your policies to meet today’s unique challenges, receive an in-depth industry benchmark, or simply ask us a question. Your Mobility Pro will be in touch within 1 business day for a no-pressure, courtesy consultation.

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Domestic Relocation Domestic Relocation Trends Job Market Job Seekers

What are the 2020 Fastest Growing Industries in the US?

Autonomous underwater rov with manipulators or robotic arms. Modern remotely operated underwater vehicle. Fictitious subsea drone or robot for deep underwater exploration and monitoring sea bottom.

What are the 2020 fastest growing industries in the US? Although the COVID-19 pandemic dampens business and social activities, US economic growth continues its blistering pace. With 3rd Quarter 2020 Gross Domestic Product (GDP) increasing by a record-breaking 33.1%, the US economy has been gaining ground lost to the pandemic. The initial pandemic closures resulted in significant economic losses with 2nd Quarter 2020 GDP declining by 31.4%.

The United States Department of Commerce Bureau of Economic Analysis attributes 3rd Quarter 2020 growth to businesses reopening and resuming activities that were postponed or restricted due to COVID-19.

Several industries also act as growth engines for the US economy. The 2020 fastest growing industries in the US reflect the impact of the COVID-19 pandemic, and to a lesser extent technology trends. IbisWorld reports that the top 10 as measured by revenue growth include:

Consumer Market

  • Massage Business Franchises
  • Grocery Store Sales via Online Portals
  • Pet Food and Supply Store Sales via Online Portals

Energy

  • Hydraulic Fracturing Services (also known as “fracking”)

Finance

  • US Stock Exchanges and Commodity Markets

Manufacturing

  • Autonomous Underwater Vehicles
  • 3D Printing and Prototype Services

Medical

  • Medical and Recreational Marijuana Farms
  • Thermometer Manufacturing
  • Medicines for Colds and Coughs

2020 Fastest Growing Industries on both 2019 and 2020 Lists

Interestingly, the only two industries that were at the top of the list in both 2019 and 2020 are:

  • Massage Business Franchises
  • Medical and Recreational Marijuana Farms

These two industries benefit from consumer’s shifts in perceptions. Many consumers spend more on luxury goods, and enjoy the therapeutic benefits of massage therapy. Consumers are also more accepting of legal access to medical marijuana.

The 2019 industries that dropped off the list in 2020 include:

  • Social Networking Platforms
  • Solar Power Installation and Production
  • Wind Turbine Installation
  • Online Mortgage Brokers
  • Peer-to-Peer Lending Platforms
  • Automated Guided Vehicle Manufacturing
  • Telehealth Services
  • Medical and Recreational Marijuana Retail Stores

What Trends Drive the 2020 Fastest Growing Industries?

One major trend drives most of the 2020 fastest growing industries: the COVID-19 pandemic. Online shopping accelerated dramatically in 2020. As retail stores closed or limited hours, consumers turned to online portals. Online shopping lets them avoid contact with other people. They can also find products that could be delivered right to their front door, so there is no need to travel to retail locations.

Medical product sales rose as consumers stocked up on medicines, thermometers, and other items to help them with illnesses as they avoided going to doctor offices. A major trend is for businesses and offices to take temperatures of staff and visitors, since that is an early sign of exposure to coronavirus.

Highlight on Autonomous Underwater Vehicles

What is an Autonomous Underwater Vehicle (AUV)? These are vehicles for conducting underwater research that are not manned by a pilot, and are not physically connected to another vessel with a line or tether. They operate independently, and some fully autonomous vehicles carry their own power in the form of batteries, fuel cells, or rechargeable solar power

The top AUV manufacturers include several with US locations, such as:

Boston Engineering Corporation (Waltham, Massachusetts, US)

Fugro (Nootdorp, the Netherlands)

General Dynamics Corporation (Reston, Virginia, US)

Graal Tech Srl (Genoa, Italy)

International Submarine Engineering Limited (Port Coquitlam, British Columbia, Canada)

Kongsberg Maritime (Kongsberg, Norway)

Lockheed Martin Corporation (Bethesda, Maryland, US)

Teledyne Technologies Incorporated (Thousand Oaks, California, US)

The ECA Group (La Garde, France)

What Should Job Seekers do About the 2020 Fastest Growing Industries?

People seeking a job should look into the 2020 fastest growing industries opportunities. A number of resources are available to learn about jobs in the AUV Industry. Professional networks such as Linkedin also have useful information on companies and contacts in this industry.

Job seekers may want to focus on a specific location such as Boston or Washington, and then target companies in those cities. It is a good idea to leverage professional career services to enhance job searches. Job seekers are more likely to find success in their search and objectives.

What Should Employers in the 2020 Fastest Growing Industries do?

Employers in the 2020 fastest growing industries should look into their needs for employees. Continuing economic growth creates stiff competition for job seekers with the necessary experience, education, skills, and training. They should review their relocation program to determine if the program supports their specific talent acquisition goals and corporate objectives.

Employers should work with a Relocation Management Company (RMC) that has knowledge and experience helping companies in the 2020 fastest growing industries. RMCs will help employers develop a relocation program that follows industry best practices and promotes their talent acquisition goals.

Industry Benchmarking Studies Help Employers Ensure Competitiveness

GMS has several Industry Benchmarking Studies that describe industry-specific best practices. These studies will help employers in the 2020 fastest growing industries learn if their company’s relocation program is designed to support their corporate objectives.

Corporate relocation policy benchmarking provides many benefits for employers. By benchmarking their relocation policy, employers can ensure their policy is comparable to their industry competitors. As a result, this will help them attract and retain talent with the highest level of skills and experience.

Industry best practice is to schedule a relocation program and policy review every 12 to 18 months to ensure your company maintains its competitive position. A thorough policy review will help your company learn how the relocation industry continues to evolve to meet increased employee demands. During the COVID-19 pandemic, the demands of compliance for safety leads to rapidly changing requirements for both employers and employees.

Conclusion

GMS’ team of corporate relocation experts has helped thousands of our clients develop hiring and recruiting programs to attract highly skilled job seekers. As a result, our team can help your company determine how to attract job seekers looking for employment opportunities in the 2020 fastest growing industries.

GMS was the first relocation company to register as a “.com.” The company also created the first online interactive tools and calculators, and revolutionized the entire relocation industry. GMS continues to set the industry pace as the pioneer in innovation and technology solutions with its proprietary MyRelocation® technology platform.

Contact our experts online to discuss your company’s recruiting, hiring, and relocation program needs as they relate to the 2020 fastest growing industries, or give us a call at 800.617.1904 or 480.922.0700 today.

We're Here to Help! Request a Courtesy Consultation

Are you ready to talk to a Mobility Pro? Learn how GMS can optimize your mobility program, enhance your policies to meet today’s unique challenges, receive an in-depth industry benchmark, or simply ask us a question. Your Mobility Pro will be in touch within 1 business day for a no-pressure, courtesy consultation.

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Domestic Relocation Domestic Relocation Tips Domestic Relocation Trends Relocation Policy Review Relocation Programs

Remote Worker Expenses: What is the Expectation?

young smiling woman working on laptop
Shot of a young businesswoman using a laptop while working in her home office

Employers and employees are grappling with the quandary of how to handle remote worker expenses. Simply put, there are many questions that remain outstanding relating to “who” is going to pay for “what.” With the world continuing to respond to the COVID-19 pandemic, the work from anywhere movement is further clouding some of these expense issues. As a result, understanding the issue is vitally important. Clear communication is critical to ensure the employer/employee relationship remains positive and supportive.

In some cases, the cost of telecommuting is simple to compute. An employee who lives within a few miles of a workplace might need to purchase some equipment to create a functional office in their home. While this sounds reasonable, there are other indirect expenses that may accompany creation of a home workspace. Often neither the employer nor the employee realize these indirect expenses until after they arise.

What are Remote Worker Expenses?

Compiling a list of remote worker expenses may sound like an easy task. And in reality, looking at the direct expenses is easy. These are the immediate out-of-pocket expenses involved in creating a workplace in the home.

Direct Expenses May Include:

What about the indirect expenses? These are the expenses that accumulate behind the scenes, often relating to the direct expenses. However, they are often not recognized as remote worker expenses.

Indirect Expenses May Include:

It is not always clear that companies have an obligation to pay for direct or indirect remote worker expenses. Some states require reimbursement for business expenses, while others do not. Employers should understand their obligations with respect to paying for remote worker expenses. However, they should also consider issues of fairness and equity for workers in these situations.

Work from Anywhere Policies may Impact Remote Worker Expenses

Beyond expenses relating to a home workspace, there are other considerations for remote worker expenses. Many companies now allow their employees to work from anywhere. As a result, some employees have moved from very expensive areas such as San Francisco, California to less expensive areas such as Missoula, Montana.

According to Salary.com, it costs 92.2% more to live in San Francisco than in Missoula. What is the issue for employers? Companies need to examine whether pay should be adjusted for remote workers who move from expensive cities to less expensive cities. Such worker pay adjustments would be subject to several complex issues. Pay varies by geography not just because of the cost of living, but by other factors including supply, demand, and productivity.

Thoughtful Consideration on Remote Worker Expenses is Important

It is easy to see how the issue of remote worker expenses may require employers to pursue some thoughtful consideration. While a few remote workers may save on costs relating to commuting or wardrobe, not all share the same level of savings. The cost burden of working from a home workspace is not always equal from one employee to the next. Fairness and equity should be top of mind for any company when looking at these issues.

It is also important for companies to examine their compensation policies. Changes may be in line for employees working from home workspaces, as well as for employees that move to lower-cost locations.

What Should Companies do?

Companies should work with a Relocation Management Company (RMC) that has knowledge and experience in managing relocation and group moves. Qualified RMCs will help companies understand the issues and gain access to useful resources to guide policy decisions and follow industry best practices.

Companies should understand how to address issues relating to remote worker expenses. The transition from working in an office to working from a home workspace is similar to arranging for a corporate group move. There may be some expenses that the company chooses to reimburse. The GMS expense management program provides a quick and easy reimbursement process for employees, wherever they are located.

Conclusion

GMS’ team of corporate relocation experts has helped thousands of our clients with their relocation programs and group moves.  As a result, our team can help your company understand the issues relating to remote worker expenses. We can also help your company consider the impact of work from anywhere policies on compensation issues.

GMS was the first relocation company to register as a “.com.” The company also created the first online interactive tools and calculators, and revolutionized the entire relocation industry. GMS continues to set the industry pace as the pioneer in innovation and technology solutions with its proprietary MyRelocation® technology platform.

New SafeRelo™ COVID-19 Knowledge Portal

GMS recently launched its new SafeRelo™ COVID-19 Knowledge Portal featuring a number of helpful resources including:

  • Curated selection of news and articles specific to managing relocation programs and issues relating to COVID-19
  • Comprehensive guide to national, international, and local online sources for current data
  • Program/Policy Evaluation (PPE) Tool for instant relocation policy reviews

Contact our experts online to learn more about how your company might address the issue of remote worker expenses, or give us a call at 800.617.1904 or 480.922.0700 today.

GMS is sharing public knowledge and can help companies more clearly understand how to address remote worker expenses. However, GMS is not a CPA firm, and is not giving financial advice. Everyone’s financial situation is different; individuals and employers should consult their financial advisors prior to making any decisions.

We're Here to Help! Request a Courtesy Consultation

Are you ready to talk to a Mobility Pro? Learn how GMS can optimize your mobility program, enhance your policies to meet today’s unique challenges, receive an in-depth industry benchmark, or simply ask us a question. Your Mobility Pro will be in touch within 1 business day for a no-pressure, courtesy consultation.

Categories
Corporate Relocation Corporate relocation tips Domestic Relocation Domestic Relocation Tips Global Relocation Global Relocation Tips Relocation Best Practices Relocation Management Relocation Policy Review Relocation Programs

Expedited Bidding Benefits: How Your Company Can Gain Immediate Results

Two male and two female Relocation Management Company representatives presenting their proposal by video to a male Human Resource Professional who hopes to gain expedited bidding benefits

If your company is seeking better results from your relocation program, expedited bidding benefits bring immediate savings. As many companies learn, outsourcing the management of their relocation program to a Relocation Management Company (RMC) provides several advantages. Doing so through a quick process helps the company achieve even greater results in the short term. Companies that use an expedited bidding process report significant savings in both time and costs.

GMS’ benchmark study of companies that leverage an expedited approach to bidding on the management of their relocation program show why this is a preferred process. Our team of global relocation experts has identified the top five expedited bidding benefits that companies can expect.

Top 5 Expedited Bidding Benefits

1. Cost Savings Right from the Start

Companies instituting an expedited approach create competition in the process. Relocation Management Companies pursuing their business will put forth their most competitive fee structures. Direct costs are likely to be the lowest in the quest to obtain the account. With these immediate savings from the expedited bidding process, companies are assured of cost effective solutions.

2. Complimentary Consulting

Some of the most valuable expedited bidding benefits related to mobility consulting. As part of the process, companies can request many of the following at no cost:

  1. Policy development and revisions
  2. Relocation program design
  3. Current policy reviews

As part of this process, companies can learn much about an RMC’s abilities, including:

  1. Knowledge of relocation processes
  2. Level of experience on points important to the company
  3. Consulting work quality and timeliness

3. Speedy Implementation Saves Time and Offers Quick Access to Expedited Bidding Benefits

Expedited bidding benefits relating to time savings can directly correlate to cost savings. The quicker a relocation program be implemented, the quicker the company achieves program savings and efficiencies. GMS’ data shows that on average, more than 90% of companies using expedited bidding complete their relocation program implementation in just 22 days. Given the amount of work that may be involved, including creating relocation APIs, policy documents, and communication, a shorter implementation timeframe lets the company quickly return its focus to other strategic objectives.

4. Process is a Better Fit for Buying Solutions

Companies that retain an RMC to manage its relocation program understand they are buying solutions that will help their employees. As a result, these solutions require a much different approach than the process they would use to purchase equipment parts or to source machinery. Ultimately, relocation management requires that the company ensures the right fit for the right reasons. The right fit ensures the company will maximize their expedited bidding benefits.

5. Frees up Administrative Burden of Formal Requests

Companies that fully understand their purchasing processes know the amount of administrative burdens and resources necessary to complete formal Requests for Information and/or Proposals. By foregoing these types of resource-intensive approaches that often create more problems for the company, employees can pursue value-added activities while RMCs carry the burden of responses.

What Should Companies do to Gain Expedited Bidding Benefits?

Companies should seek to gain expedited bidding benefits by utilizing an expedited process for outsourcing the management of their relocation program. Relocation Management Companies with extensive industry experience and knowledge will prove to be the best resources in this effort. Qualified RMCs will guide companies to successful results with a customized, right-fit program and greater expedited bidding benefits.

Conclusion

GMS’ team of corporate relocation experts has helped thousands of our clients with their relocation programs.  Our team can help your company gain the maximum amount of expedited bidding benefits by leveraging our expertise to present the most cost-effective and efficient relocation management solutions.

GMS was the first relocation company to register as a “.com.” The company also created the first online interactive tools and calculators, and revolutionized the entire relocation industry. GMS continues to set the industry pace as the pioneer in innovation and technology solutions with its proprietary MyRelocation® technology platform.

New SafeRelo™ COVID-19 Knowledge Portal

GMS recently launched its new SafeRelo™ COVID-19 Knowledge Portal featuring a number of helpful resources including:

  • Curated selection of news and articles specific to managing relocation programs and issues relating to COVID-19
  • Comprehensive guide to national, international, and local online sources for current data
  • Program/Policy Evaluation (PPE) Tool for instant relocation policy reviews

Contact our experts online to discuss your company’s interest in obtaining expedited bidding benefits, or give us a call at 800.617.1904 or 480.922.0700 today.

We're Here to Help! Request a Courtesy Consultation

Are you ready to talk to a Mobility Pro? Learn how GMS can optimize your mobility program, enhance your policies to meet today’s unique challenges, receive an in-depth industry benchmark, or simply ask us a question. Your Mobility Pro will be in touch within 1 business day for a no-pressure, courtesy consultation.

Categories
Buy a Home Domestic Relocation Domestic Relocation Tips Home Purchase

Relocation Mortgage Application: Top 5 Questions for Transferees

Portrait happy family sitting on couch, hugging, unpacking cardboard boxes with belongings in modern living room, looking at camera, happy wife and husband moving into new house, relocation

Many transferees seek to buy a home in their new location, and will need to submit a relocation mortgage application. GMS recommends that companies should encourage transferees to buy a home instead of renting. Transferees who buy a home establish roots in their new community and can settle in more comfortably. Also, if a company offers home purchase benefits, this sends a strong signal of commitment on their part to the transferee.

What is a Relocation Mortgage?

A relocation mortgage is an alternative mortgage product. Transferees may be eligible for benefits that will help them move and purchase a home. In some cases, employers may contribute subsidies to help cover the costs of closing. They may help transferees obtain a lower interest rate on the mortgage by paying an upfront fee, also known as paying for points.

GMS spoke with Anthony Hughes, Relocation Account Manager at Quicken Loans. Anthony agreed to share his advice and guidance for transferees who need to submit a relocation mortgage application.

Top 5 Questions for Transferees Who Plan to Submit a Relocation Mortgage Application

Anthony highlights 5 major questions that transferees must address when they are working with the dedicated team of VIP relocation mortgage bankers at Quicken Loans. Answers to these questions will provide information that is helpful for the mortgage process.

By knowing the transferee’s answers to these questions, it will help ensure the team at Quicken Loans is setting proper expectations for them from the first call through closing. Anthony states that Quicken Loans’ goal is for each transferee’s mortgage experience to be as seamless and stress free as possible during their relocation.

Relocation Mortgage Application Top 5 Questions

Question #1: Employment

  • Are you a new hire? Transferring internally?  Did you get a promotion?
  • What is your start date for your new role, what is your new role, and how much will your new income be?
  • Do you have an offer letter available to provide us?

Question #2: Timeline/Goals/Awareness

  • Have you relocated before?
  • When are you looking to have everything finalized?
  • Do you have a timeline in place?

Question #3: Departure Home versus Destination Home

  • What are your plans with your current home?
  • Do you need to sell your current home to have the funds to qualify for your new mortgage?
  • Do your benefits include a Guaranteed Buyout Option (GBO) or Buyer Value Option (BVO) that will impact your relocation mortgage application?
  • How much are you looking to spend on your new home?
  • Are you familiar with the real estate market in the new area?

Question #4: Assets

  • What assets do you have on hand?
  • What are your account balances?
  • Where are the funds coming from for your new home purchase? Proceeds? Equity advance? Cash on hand? Gift?

Question #5: Credit Report

  • What is included in the credit report?
  • What is your score?
  • Could we utilize dedicated down payment funds in a better way?

Reviewing the Answers on the Relocation Mortgage Application

Anthony shares that once Quicken Loans has reviewed these top 5 questions with a transferee, the team will provide them with details around the Quicken Loans Mortgage First program. This program enables Quicken Loans to fully underwrite the transferee’s loan prior to their first house hunting trip. Quicken Loans’ Mortgage First approval is stronger than just a traditional pre-qualification. As a result, this approval can give transferees the upper hand when making an offer on a new home.

What Does This Mean?

Transferees who want to submit a relocation mortgage application to buy a new home should review their current financial arrangements with a qualified lender. Anthony states that Quicken Loans has several informative guides to help transferees understand the relocation mortgage application process, including a “Do’s and Don’ts of Relocating to a New Home” flyer. Transferees who have a mortgage on their current home may be able to obtain another mortgage for a new home. However, this depends on their specific financial circumstances. Transferees should understand that they must be approved for the total amount of current mortgage debt and their new mortgage loan.

What Should Employers do for Transferees Who Want to Submit a Relocation Mortgage Application?

Employers with transferees looking to buy a new home should direct them to speak with qualified lenders and financial advisors for guidance. They should review their relocation policy to ensure their policy represents industry best practices and provides strong support for their talent acquisition program.

Employers should also work with an experienced and knowledgeable Relocation Management Company (RMC). By engaging the RMC early in the process, employers will be assured of all the important points that relate to the transferee’s ability to buy a new home and arrive to their new location on schedule.

Conclusion

Global Mobility Solutions’ team of domestic relocation experts has helped thousands of our clients understand how to communicate important points relating to how transferees should submit their relocation mortgage application. Our team can help your company understand how to proceed by providing guidance to transferees on obtaining important and timely information from qualified lenders and financial advisors.

GMS was the first relocation company to register as a “.com.” The company also created the first online interactive tools and calculators, and revolutionized the entire relocation industry. GMS continues to set the industry pace as the pioneer in innovation and technology solutions with its proprietary MyRelocation® technology platform.

New SafeRelo™ COVID-19 Knowledge Portal

GMS recently launched its new SafeRelo™ COVID-19 Knowledge Portal featuring a number of helpful resources including:

  • Curated selection of news and articles specific to managing relocation programs and issues relating to COVID-19
  • Comprehensive guide to national, international, and local online sources for current data
  • Program/Policy Evaluation (PPE) Tool for instant relocation policy reviews

Contact our experts online to discuss how to provide guidance for a transferee in submitting their relocation mortgage application, or give us a call at 800.617.1904 or 480.922.0700 today.

GMS is sharing public knowledge and can help companies more clearly understand mortgage loans for transferees. However, GMS is not a CPA firm or a lender, and is not giving financial advice. Everyone’s financial situation is different; individuals and employers should consult their lenders and financial advisors prior to making any decisions.

We're Here to Help! Request a Courtesy Consultation

Are you ready to talk to a Mobility Pro? Learn how GMS can optimize your mobility program, enhance your policies to meet today’s unique challenges, receive an in-depth industry benchmark, or simply ask us a question. Your Mobility Pro will be in touch within 1 business day for a no-pressure, courtesy consultation.

Categories
Domestic Relocation Domestic Relocation Trends Job Market Job Seekers Labor Force Talent Mobility United States Economy

What are the Top Cities in 2020 for US Job Opportunities?

Boise Idaho city skyline, one of the top 12 cities in 2020 with US Job Opportunities

The United States’ continuing economic resilience means many cities have a wide number of US job opportunities for job seekers. The U.S. Bureau of Labor Statistics publishes a number of monthly reports that show the health of the job market. The Employment Situation – September 2020 report shows:

  1. Total non-farm payroll employment rose by 661,000
  2. Unemployment rate fell to 7.9%
  3. Number of unemployed persons fell by 1.0 million

Many job seekers looking for US job opportunities have their sights set on moving to find their new job. They often search for cities where there is a wide and growing number of employment opportunities. In this way, job seekers may increase their ability to find employment.

Where are the US Job Opportunities?

Several cities have shown tremendous growth in population, industries, and jobs over the past several years. Many of these cities are well positioned to leverage their strengths, from low cost of living to exceptional natural beauty. According to thetravel.com, the following 12 cities have the most US job opportunities:

  1. Sioux Falls, South Dakota
  2. Austin, Texas
  3. San Francisco, California
  4. Boston, Massachusetts
  5. Scottsdale, Arizona
  6. Boise, Idaho
  7. Lake Charles, Louisiana
  8. Provo-Orem, Utah
  9. Nashville, Tennessee
  10. Reno, Nevada
  11. Bend-Redmond, Oregon
  12. George, Utah

While some cities on this list are often consistently cited as great engines of economic growth, others may seem somewhat surprising. Cities such as Sioux Falls, Boise, and Lake Charles do not often rub shoulders with shining tech industry stars like Austin, Boston, and San Francisco. What are the US job opportunities in these cities?

US Job Opportunities in Sioux Falls, Boise, and Lake Charles

Sioux Falls, South Dakota

The Key Industries in Sioux Falls include:

  • Biomedical—pharmaceuticals, medical device manufacturing
  • Finance & Banking—business process outsourcing
  • Advanced Manufacturing—centralized location with access to large markets
  • Transportation & Warehousing—extensive highway, rail, and air service
  • Data Centers—both publicly available and private resources
  • Food Processing—in the heart of America’s breadbasket

Other important factors that may lead to increasing job growth and US job opportunities include:

  • South Dakota’s pro-business regulatory climate
  • No personal tax
  • No corporate state income tax
  • Personal property tax: none
  • No inheritance tax
  • Inventory tax: none

Boise, Idaho

The Major Industries in Boise include:

  • Mining—gold, silver, lead, zinc, copper
  • Farming—potatoes, wheat, barley, hay, sugar beets, onions
  • Timber—wood and paper products
  • State Government—Boise is the state capital
  • Technology—analytics, process automation, network solutions
  • Tourism—Rocky Mountains, Boise River

Other important factors that may lead to increasing job growth and US job opportunities include:

  • Idaho’s tax incentives for job creation, investment credits, tax exemptions
  • Low taxes
  • Reasonable rates
  • Job training programs
  • Urban renewal projects
  • Strategic transportation advantages
  • Skilled and highly educated workforce

Lake Charles, Louisiana

The Leading Industries in Lake Charles include:

  • Advanced Manufacturing—petrochemicals, components for nuclear power plants
  • Aerospace—several nearby airports and aviation training programs, suppliers
  • Agribusiness—natural fiber spinning technologies
  • Health Care—three major hospitals
  • Maritime—direct access to the Gulf of Mexico
  • Sustainable Energy—liquefied natural gas conversions
  • Traditional Energy—refining operations, power plants

Other important factors that may lead to increasing job growth and US job opportunities include:

  • Over $40 billion in planned investments for the southwest Louisiana region
  • Location near top defense contractors
  • Abundant natural resources
  • Local hospitals connected to LSU Health New Orleans establishes talent pipeline for the region
  • Six areas ports including Port of Lake Charles, one of the busiest in the nation
  • Sophisticated waterway transportation capabilities

What Should Job Seekers do?

Job seekers should look into cities like Sioux Falls, Boise, and Lake Charles for US job opportunities. These cities offer a wide range of industries and large variety of jobs. This bodes well for their future economic and employment growth.

Several resources are available to help job seekers learn about job openings in Sioux Falls, Boise, and Lake Charles. Social networking platforms such as Linkedin provide company information and searchable contacts for connection opportunities. Job seekers should leverage professional career services to enhance their job search and achieve success in their career objectives.

What Should Employers in Cities with Plentiful US Job Opportunities do?

Employers located in cities with plentiful US job opportunities should review their hiring plans and talent acquisition programs. High levels of economic growth means employers must compete for job seekers.

Employers seeking candidates with the best skills and qualifications should work with a Relocation Management Company (RMC). RMCs have knowledge and expertise to help employers design a robust and effective relocation program that promotes global talent acquisition

Many cities with growing industries often generate additional jobs in service and support industries. As employment grows, demand rises for housing, shopping, schools, and other services. Job seekers in service and support industries should also look at cities with plentiful US job opportunities.

Conclusion

GMS’ team of domestic relocation experts has helped thousands of our clients develop highly effective hiring and recruiting programs. As a result, our clients can easily attract highly skilled job seekers to cities with plentiful US job opportunities. Our team can help your company determine how to attract job seekers to fill openings and help your company reach its corporate objectives.

GMS was the first relocation company to register as a “.com.” The company also created the first online interactive tools and calculators, and revolutionized the entire relocation industry. GMS continues to set the industry pace as the pioneer in innovation and technology solutions with its proprietary MyRelocation® technology platform.

New SafeRelo™ COVID-19 Knowledge Portal

GMS recently launched its new SafeRelo™ COVID-19 Knowledge Portal featuring a number of helpful resources including:

  • Curated selection of news and articles specific to managing relocation programs and issues relating to COVID-19
  • Comprehensive guide to national, international, and local online sources for current data
  • Program/Policy Evaluation (PPE) Tool for instant relocation policy reviews

Contact our experts online to discuss your company’s recruiting, hiring, and relocation program needs in the top cities for US job opportunities, or give us a call at 800.617.1904 or 480.922.0700 today.

Request your complimentary relocation policy review

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