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Inward Investment Guides
Red Flags When Scouting for Business Locations
What are red flags companies that are scouting for new locations should beware of?
Dana Olson, President and CEO, Ecodev
Companies should note if the community is growing or shrinking. Are businesses moving out or is there revitalization underway? Also, does the community invest in its downtown? A vibrant downtown is a reflection on the whole community. Other questions to ask to avoid red flags include: Has another company with multiple locations closed down in the community recently and why? If there a competitive employer in the community, what wages does that employer pay and do they have any trouble recruiting? Is the community in an area affected by hurricanes, snow storms, or something else that could disrupt business?
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