The success of a business is largely dependent on its location, and the process of finding the right place begins with getting hold of an experienced provider of site selection services. Many different factors need to be taken into account when looking at sites. The final choice must be able to fulfill the company's growth strategy, its vision, corporate policies and business processes.
Site selection consultants tend to follow data-driven methods when they are asked to find a new location for a business expansion or relocation. The company's customer base, its target market and the type of operations at the new facility are the deciding factors when it comes to choosing the general region. Databases of available properties in the region are then scanned to narrow it down to a few specific sites that match the company's requirements. The consultant can then conduct site visits to take a first-hand look at these sites.
The process is different for each industry. For instance, the system followed by retail and restaurant chains for selecting the next outlet or franchise location will be completely different from the process a company looking for a place for its data center will follow. Some factors, however, are common to all business expansions.
The business climate is among the most important aspects, and matters to all kinds of businesses. It doesn't mean limiting the search to locations offering low taxation and minimal red tape. In this case, it means engaging in negotiations with local and state officials and the economic development agencies representing the region in order to secure incentives for the project.
The success of a project is directly related to the amount of financial and infrastructural support offered. This can be in form of tax credits, exemptions, abatements, grants, loans, cheap real estate, recruitment and workforce training support, etc. Securing bids from different cities and states and knowing how to handle negotiations for incentives is one of the key duties of the site selection consultant.
Another issue that has a big impact is the availability of a skilled workforce and talent pool. This in turn depends on the existence of an industry cluster with startups, a strong supplier network and proximity to higher educational institutions. Not to mention the cost of living and quality of life, both of which help in hiring and retaining employees.
An analysis of labor market demand and supply in shortlisted locations will reveal which one offers the best recruitment possibilities. This is where workforce training funding and support will be invaluable as part of a package of incentives. State and local officials can cobble together a partnership between the company and local universities that will ensure a steady supply of trained workers.
Easy access to transportation networks including highways, rail, airports and shipping ports is also a critical part of the equation for companies with complex logistical needs. Other factors to be considered include availability of shovel ready sites, energy reliability and low-cost power, water supply, etc. The bottom line is that finding the perfect business location is a critical and complex process, and requires site selection services provided by a firm with lots of experience and contacts.
Site selection consultants tend to follow data-driven methods when they are asked to find a new location for a business expansion or relocation. The company's customer base, its target market and the type of operations at the new facility are the deciding factors when it comes to choosing the general region. Databases of available properties in the region are then scanned to narrow it down to a few specific sites that match the company's requirements. The consultant can then conduct site visits to take a first-hand look at these sites.
The process is different for each industry. For instance, the system followed by retail and restaurant chains for selecting the next outlet or franchise location will be completely different from the process a company looking for a place for its data center will follow. Some factors, however, are common to all business expansions.
The business climate is among the most important aspects, and matters to all kinds of businesses. It doesn't mean limiting the search to locations offering low taxation and minimal red tape. In this case, it means engaging in negotiations with local and state officials and the economic development agencies representing the region in order to secure incentives for the project.
The success of a project is directly related to the amount of financial and infrastructural support offered. This can be in form of tax credits, exemptions, abatements, grants, loans, cheap real estate, recruitment and workforce training support, etc. Securing bids from different cities and states and knowing how to handle negotiations for incentives is one of the key duties of the site selection consultant.
Another issue that has a big impact is the availability of a skilled workforce and talent pool. This in turn depends on the existence of an industry cluster with startups, a strong supplier network and proximity to higher educational institutions. Not to mention the cost of living and quality of life, both of which help in hiring and retaining employees.
An analysis of labor market demand and supply in shortlisted locations will reveal which one offers the best recruitment possibilities. This is where workforce training funding and support will be invaluable as part of a package of incentives. State and local officials can cobble together a partnership between the company and local universities that will ensure a steady supply of trained workers.
Easy access to transportation networks including highways, rail, airports and shipping ports is also a critical part of the equation for companies with complex logistical needs. Other factors to be considered include availability of shovel ready sites, energy reliability and low-cost power, water supply, etc. The bottom line is that finding the perfect business location is a critical and complex process, and requires site selection services provided by a firm with lots of experience and contacts.
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To learn more about the benefits of site selection services, click the link to synergysiteselectionresources.com. Come see how Synergy Site Selection Resources can help with your next event, when you go now to http://synergysiteselectionresources.com.
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