Corporate Site Selection Can Be Tricky…
When choosing a home for your new business, or a new home for your existing one, there are so many things to consider that it can quickly make even the best of site selectors’ heads spin. To help make your decision easier, we’ve selected ten of the most important factors one needs to consider during the corporate site selection process. These factors range from the necessities, such as great infrastructure and affordable cost of living, to the amenities available, like local food and access to the outdoors.
Infrastructure
Arguably the most important aspect of any business’s site selection is the infrastructure. You have to have a space that can meet your energy, water, and structural demands. Network services, like virtual private networks and data storage, are crucial in this digital age. Finding locations with high speed wireless or fiber optic access can be a huge boon to any business.
Location
While the building itself is important, the location has just as much impact on your employees and workplace culture. Relocating to areas that lack a definitive culture could mean lower levels of employee happiness and productivity. The location’s relation to major airports, highways and the distance from city centers also has a large impact on corporate site selection. In addition to location, an often overlooked factor is parking. Selecting a site that allows for ample parking space can relieve a pain point for employees.
Financial Incentives
Financial incentives vary on federal, state, county and city government levels. Weighing the risks and rewards of locating to any location means performing research about regional economies and local tax codes, so you can isolate the financial environment most beneficial to your business.
Food in the Area
It’s not all facts and figures during this search. Trust your tongue. The food available in potential locations can be a tipping point. Can your business function well in an area with a moderate sales tax? Quite possibly if you can keep eating at that awesome burger joint you discovered.
Distribution Access
A good business location isn’t just about where you can house your employees and products comfortably. The ability to distribute from that location should be a make or break factor on your decision. When making a corporate site selection, access to railroads, highways and airports is a crucial factor to consider so you can get your product out into the world in a timely manner.
Power and Water
A great building and location don’t matter much if you can’t turn the lights on. Working to find locations with renovated or brand-new power grids assures your business that your power demands will be met. Beyond toilets, sinks, and the ability to clean, access to high volumes of clean water can be crucial for different types of production.
Nightlife/Leisure Activities
Just like good food, the ability to go out and cut loose is necessary for a healthy business. Whether it’s family focused or adult focused activities, the access to leisure activities in your new business location makes assimilation much easier. Finding a location with community concerts, theaters, breweries, and easy access to the outdoors can really help ensure employees are happy with both their work and personal life.
Workforce Readiness
Not every business relocates with an armada of employees in tow. In fact, most don’t. Relocating to areas with educated and hard-working labor forces can help your business be prepared to thrive upon arrival. Recruiting in areas with a more labor-ready workforce is much easier as well, meaning you’ll be able to start operations and reach optimal levels of productivity sooner. Locations with universities or colleges in town offer the opportunity to tap into a high potential workforce pool.
Outdoor Access
Sometimes cutting loose means getting on top of a mountain, or finding a lovely stream to fish. Where you decide to place your business has an impact on decision makers and employees alike. Ensuring that you’ve chose a location with access to the great outdoors can provide your team with the ability to cut loose for free and to enjoy the fresh scenery outside the corporate walls.
Local Government Support
Finding a local and state government focused on growing regional economies means your business will be provided key incentives to make a corporate site selection in that region. Whether it features tax incentives or support from local development corporations, having a local government that provides aid to assimilating and growing your business can seal the deal on a great business location. Don’t write off community support either when considering a new site. A supportive community can ease the difficulties of assimilation into a new city.
Interested in a location that checks all the boxes listed above? Consider the Montana Connections Park. With unparalleled outdoor access, local economic incentives, distribution capability, infrastructure ready to scale, great food, and an exhilarating culture, Butte and the Montana Connections Park is a great home for your business.
