36th Annual Survey of Corporate Executives Commentary: Small to Mid-Size Companies Focus on Costs
Costs, accessibility, and taxes all ranked higher in importance than quality of life to the small to mid-size companies responding to the Corporate Survey.
Q1 2022
Costs (labor, energy, shipping), accessibility (skilled labor, highway, raw materials) and taxes (corporate tax rate, state/local incentives, tax exemptions) all ranked higher than quality of life in importance to these companies. In fact, even environmental regulations, which are considerably stricter now than ever before, are more important to decision-makers for these projects than quality of life. The takeaway for EDCs is to pivot their talk track with these projects to focus on how their community can ease the cost burden or logistics challenges faced by companies today.
Also, the need for site selection consultants is illustrated by company-led project ranking of availability of skilled labor, which is difficult to find anywhere, at #2 compared to training programs/technical schools, which is where labor supply is likely to be found, at a dismal #17. EDCs should understand, for better or worse, what site selectors are looking for versus what companies are looking for.
Project Announcements
Local Bounti Plans Pasco, Washington, Indoor Agricultural Operations
04/26/2024
Innovative Construction Group Plans Siler City, North Carolina, Production Operations
04/26/2024
Crystal Window and Door Systems Plans Mansfield, Texas, Headquarters-Production Operations
04/25/2024
JDSAT Expands Fairfax County, Virginia, Operations
04/25/2024
Trussworks Mid-America Plans Jackson, Missouri, Manufacturing Operations
04/25/2024
Epic Flight Academy Establishes Hebron, Kentucky, Operations
04/25/2024
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