I have two feature layers (polyline/polygon) which should be congruent but there's an offset of about 220 meters.
The Georeferencing tool only works with raster layers.
How do I do the equivalent with a feature layer?
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In ArcMap use the Spatial Adjustment toolbar:
Within the editing environment, the spatial adjustment tools provide interactive methods to align and integrate your data. Spatial adjustment supports a variety of adjustment methods and will adjust all editable data sources. It's often used when you've imported data from another source, such as a CAD drawing.