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36th Annual Survey of Corporate Executives Commentary: Pandemic-Induced Impacts Have Profound Effect on Decision-Makers

Labor costs, inbound/outbound shipping costs, and raw materials availability, in particular, have significantly increased in priority.

Q1 2022
The last two years have been unprecedented in site selection. COVID-19, supply chain constraints, the Great Resignation, inflation, rising wages, remote work, and shifts in employee priorities have had a profound effect on site selection factors as evidenced by this year’s Corporate Survey. Compared to last year, labor costs, inbound/outbound shipping costs, and raw materials availability, in particular, made significant increases in ranking/priority while more subjective factors, such as quality of life, moved down in this year’s ranking.

Those “age-old” site selection factors, such as available workforce, infrastructure, accessibility, available land/buildings, state and local incentives, etc. continue to appear in the survey results. In the coming months and years, as disruptions caused by COVID-19 persist (or improve), those pandemic-induced impacts may have a permanent or long-term effect on site selection decision-making.

Ultimately, site selection factors evolve from issues important to corporate location decision-makers. Companies are making drastic changes to worker compensation, recruiting strategies, supply chain networks, and their real estate footprint, all in an effort to better compete in the “new normal.” Their efforts to remain competitive will continue to drive location decisions.

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