Site Selection Priorities and Our Messaging
[share]For the past 27 years, a leading site and facility planning publication, Area Development, has surveyed corporate decision makers regarding their location and expansion plans. Although not the final word in new facility development, the survey results provide excellent insights into key factors that influence site selection decisions.
Let’s take a look at the Top 26 Site Selection Factors Rankings of 2012:
- Labor costs
- Highway accessibility
- Availability of skilled labor
- Availability of advanced ICT (Information and Communication Technology) services
- Occupancy or construction costs
- Energy availability and costs
- Corporate tax rate
- Available buildings
- Tax exemptions
- Low union profile
- Right-to-work state
- Proximity to major markets
- State and local incentives
- Environmental regulations
- Expedited or “fast-track” permitting
- Inbound/outbound shipping costs
- Availability of long-term financing
- Available land
- Proximity to suppliers
- Training programs
- Accessibility to major airport
- Proximity to technical college/training
- Raw materials availability
- Railroad services
- Availability of unskilled labor
- Waterway or ocean port accessibility
So what do these rankings mean for our region?
These factors are important in developing the message that GREDF will use to aggressively market the Quincy and Adams County region for new investment. We must capitalize on and communicate our strengths including highway accessibility, available land, proximity to technical college/training and waterway accessibility, among others. According to the survey results, most companies are not planning significant movement to new plant and other facility locations until the later part of 2014/early 2015. This gives GREDF and our region time to research, craft and broadcast our message.
What about our existing businesses?
It is important to recognize that these site selection factors are also key as we continue to grow our business retention and expansion program. Most new investment will come in the form of growth by existing businesses. The companies in Quincy and Adams County are likely facing the same challenges as those corporations surveyed – including uneven growth and a lackluster national economic recovery. GREDF staff needs to be able to provide the support, linkages and potential resources to our existing companies so when they are ready to grow, they decide to stay in our community.