Experts in Site Selection / Economic Development Incentivesinfo@ginovus.com 317.819.0888

Why Site Selection Matters in 2019

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hen it comes time to open, relocate or expand your business, how do you choose the right location and mitigate the risk associated with the decision? It’s more involved than choosing a city or signing a lease. Strategic site selection involves research, due diligence, and planning, and its importance is growing in the fast-paced economic landscape of 2019.

Why does site selection matter in 2019?
There are impactful economic development trends that make site selection more challenging than ever. By example, a key concern for many business owners is the tight labor force. If your business relies on software developers, choosing a city with a deep technology talent pool is key.

Another trend influencing site selection is the impact of a slowing economy and the potential of trade tariffs. While these factors are out of your control, they must factor into your business decision-making, including site selection.

The way we do business is changing, and this also impacts site selection. E-commerce is growing, and the desire for fast shipping has caused the demand for last mile warehouse spaces to increase. With more limited urban development options, choosing the right location is critical and can be difficult in a market where speed matters.

How does strategic site selection work?
There are many components that go into choosing the right site for your business. Ginovus Senior Principal, Leslie Wagner summarizes it well:

“It is imperative for companies to identify their key project drivers and objectives at the outset of the project. This allows the site selection team to investigate all viable options and make a sound recommendation to ensure that the company is well positioned to make the best possible decision. These decisions have long-term implications for company owners, their employees, and clients.”

“It is imperative for companies to identify their key project drivers and objectives at the outset of the project. This allows the site selection team to investigate all viable options and make a sound recommendation to ensure that the company is well positioned to make the best possible decision. These decisions have long-term implications for company owners, their employees, and clients.”

Site selection involves identifying the priorities for your business, doing rigorous and painstaking research to determine the best alternatives, and then executing the project with precision. There are many factors to be considered and the process can be overwhelming, which is why it is important to partner with an experienced team.

At Ginovus, we’re deeply involved with every step of the site selection process, which means we know exactly what criteria your business needs to consider. We can help you find the right location, secure and manage incentives, and execute your vision efficiently. We focus on the details so you can focus on operating your business.

Learn more about the Ginovus team or read our full 2019 Economic Development Trends Report here. Have questions? We’re here to help so contact us anytime.