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2023 Top States Commentary: Site-Readiness Programs Position a State for Success

Significant due diligence gives site selectors the confidence to move forward on development.

Q3 2023
Site-readiness programs have grown significantly in importance during the past few years. Large or “mega” electric vehicle and semiconductor chip projects have driven the need for large greenfield sites to be ready for development. In order to be positioned to be ready for development, significant due diligence needs to be completed. Issues, such as land ownership, zoning, infrastructure, environmental, engineering, and permitting need to be completed at some level to give site selectors and corporate decision-makers the confidence that they can move forward with development in a timely manner.

Leading states, such as South Carolina, Georgia, Tennessee, North Carolina, and Ohio have been focused on site-readiness for decades and have had demonstrated success with sites of all sizes. These states know what they are doing and have hired consulting teams with expertise to ensure they have their “ducks in a row” when it comes to site due diligence.

In the past two years, Indiana and Kentucky have taken huge steps forward on site-readiness, and both states have been rewarded with large project wins. In the case of Indiana, Eli Lilly has committed to the construction of a new $3.7 billion facility northwest of Indianapolis. Kentucky won a nearly $6 billion new Ford manufacturing facility between Louisville and Bowling Green. Both projects were “statement” wins for their respective states.

No state has the perfect “secret sauce” when it comes to site-readiness. The key thing for communities, regions, and states to do is identifying developable sites that have access to talent, infrastructure, and research assets. Then, the focus needs to turn to the critical due diligence site issues related to the environment, engineering, permitting, and land ownership. Moving down the site-readiness path in this manner positions an area for future success.

TOP STATES FOR DOING BUSINESS 2023

  1. 1. Georgia
  2. 2. South Carolina
  3. 3. Tennessee
  4. 4. North Carolina
  5. 5. Ohio
  6. 6. Alabama
  7. 7. Indiana
  8. 8. Texas
  9. 9. Virginia
  10. 10. Mississippi
  11. 11. Louisiana
  12. 12. Arizona
  13. 13. Michigan
  14. 14. Kentucky
  15. 15. Florida
  16. 16. New York
  17. 17. Iowa
  18. 18. Arkansas
  19. 19. Kansas
  20. 20. Illinois

Individual Categories

Workforce Training Programs

  1. 1. Georgia
  2. 2. Virginia
  3. 3. South Carolina
  4. 4. Louisiana
  5. 5. Alabama
  6. 6. Tennessee
  7. 7. North Carolina
  8. 8. Indiana
  9. 9. Arizona
  10. 10. Ohio

Overall Cost of Doing Business

  1. 1. Georgia
  2. 2. Alabama
  3. 3. Tennessee
  4. 4. South Carolina
  5. 5. North Carolina
  6. 6. Indiana
  7. 7. Mississippi
  8. 8. Ohio
  9. 9. Texas
  10. 10. Louisiana

Business Incentives Programs

  1. 1. Georgia
  2. 2. South Carolina
  3. 3. Ohio
  4. 4. Indiana
  5. 5. Tennessee
  6. 6. North Carolina
  7. 7. Alabama
  8. 8. Virginia
  9. 9. Arkansas
  10. 10. Mississippi

Access to Capital & Funding

  1. 1. California
  2. 2. New York
  3. 3. Texas
  4. 4. Massachusetts
  5. 5. Georgia
  6. 6. Virginia
  7. 7. Illinois
  8. 8. North Carolina
  9. 9.Arizona
  10. 10. Maryland

Competitive Labor Environment

  1. 1. Georgia
  2. 2. North Carolina
  3. 3. Ohio
  4. 4. South Carolina
  5. 5. Indiana
  6. 6. Texas
  7. 7. Virginia
  8. 8. Tennessee
  9. 9. Arizona
  10. 10. Alabama

Energy Availability & Costs

  1. 1. Georgia
  2. 2. Tennessee
  3. 3. South Carolina
  4. 4. Alabama
  5. 5. North Carolina
  6. 6. Texas
  7. 7.
  8. 8. Oregon
  9. 9. Indiana
  10. 10. Iowa

Water Availability

  1. 1. Ohio
  2. 2. Michigan
  3. 3. Tennessee
  4. 4. South Carolina
  5. 5. North Carolina
  6. 6. Georgia
  7. 7. New York
  8. 8. Wisconsin
  9. 9.
  10. 10. Virginia

Logistics & Infrastructure

  1. 1. Georgia
  2. 2. Texas
  3. 3. Indiana
  4. 4. Ohio
  5. 5. South Carolina
  6. 6. Virginia
  7. 7. Tennessee
  8. 8. Kentucky
  9. 9. North Carolina
  10. 10. Illinois

Available Real Estate

  1. 1. South Carolina
  2. 2. Texas
  3. 3. Ohio
  4. 4. Georgia
  5. 5. North Carolina
  6. 6. Indiana
  7. 7. Tennessee
  8. 8. Virginia
  9. 9. Alabama
  10. 10. Arizona

Cooperative & Responsive State Government

  1. 1. Georgia
  2. 2. Tennessee
  3. 3. North Carolina
  4. 4. South Carolina
  5. 5. Ohio
  6. 6. Indiana
  7. 7. Virginia
  8. 8. Alabama
  9. 9. Arizona
  10. 10. Michigan

Corporate Tax Structure

  1. 1. Florida
  2. 2. North Carolina
  3. 3. Texas
  4. 4. Tennessee
  5. 5. Indiana
  6. 6. Georgia
  7. 7. Nevada
  8. 8. South Dakota
  9. 9. Ohio
  10. 10. Arizona

Site-Readiness Programs

  1. 1. South Carolina
  2. 2. Georgia
  3. 3. Ohio
  4. 4. Tennessee
  5. 5. Indiana
  6. 6. North Carolina
  7. 7. Virginia
  8. 8. Alabama
  9. 9. Kentucky
  10. 10. Iowa

Favorable Regulatory Environment

  1. 1. Alabama
  2. 2. South Carolina
  3. 3. Georgia
  4. 4. Tennessee
  5. 5. North Carolina
  6. 6. Indiana
  7. 7. Ohio
  8. 8. Texas
  9. 9. Louisiana
  10. 10. Mississippi

Speed of Project Permitting

  1. 1. South Carolina
  2. 2. Alabama
  3. 3. Georgia
  4. 4. Mississippi
  5. 5. Tennessee
  6. 6. Indiana
  7. 7. Virginia
  8. 8. Ohio
  9. 9. Iowa
  10. 10. North Carolina

Exclusive Research