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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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About the Author

Dana Olson, President and CEO, Ecodev
Dana Olson founded Ecodev LLC in 2002. He specializes in site selection and economic development consulting, particularly in the manufacturing, biotechnology, medical technology, and alternative energies sectors. Before founding Ecodev, Olson was the COO of ACI Telecentrics, which provides customer service, marketing, and back office support to Fortune 500 companies in the insurance, financial, and telecom industries. Olson is a member of the Industrial Asset Management Council.

More articles by Dana Olson

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