WINSTON-SALEM -- A Triad business leader is reacting to federal approval of Wells Fargo's planned acquisition of Charlotte-based Wachovia.

Winston-Salem Chamber of Commerce President Gayle Anderson said the acquisition is the best news possible in the bid for Wachovia.

"We think it gives us the opportunity to retain all of the jobs that are here in Winston-Salem and possibly down the road even look at growing from an employment standpoint," said Anderson.

Sunday's announcement by the Federal Reserve followed federal antitrust regulators' Friday approval of Wells Fargo's $11.7 billion all-stock offer.

And the Wachovia Center, which towers over the Winston-Salem skyline, is just one piece of that plan.

Citigroup sought only to acquire Wachovia's banking operations, but halted its effort. Despite its decision not to contest the Wells Fargo-Wachovia deal in court, Citigroup says it will ask for $60 billion in damages for breach of contract.

Anderson says the Wells Fargo deal makes better business sense and hopefully will result in a better outcome for the 3,000 Wachovia employees in Forsyth County.

"There's a significant portion obviously in banking, also with wealth management and then information technologies," said Anderson.

Anderson said it would be easy for Wells Fargo to justify its Wachovia operation in Forsyth County.

"The cost of doing business here is low, our productivity is high and our cost of living is low," Anderson said. "We can make a business case against just about any other city in the country of why it makes sense to keep jobs here and, actually, to bring more jobs here."

And the chamber of commerce makes that case in a 12-page document originally intended for Wachovia Chief Executive Robert Steel. Anderson now hopes to submit the document to Wells Fargo.

"We're working with the mayor to have an audience with the Wells Fargo executives to make that business case," she said.

It remains to be seen whether the Wachovia name and logo will be replaced by the Wells Fargo name and speeding stage coach, but Anderson says it's the least of her concerns.

"I'll take the jobs over the name any day," she said.