COVID-19 Impact on Corporate Location Decisions
COVID-19 Impact on Corporate Location Decisions
An uptick in on-shoring especially in the pharmaceutical and life science industries, a dwindling demand for office real estate as technology allows more remote work, and guarded optimism that corporate location decisions will resume in late 2020 or 2021 were among major findings of the Site Selectors Guild’s survey on the impact of COVID-19.
Conducted the week of April 13, 2020 in partnership with Development Counsellors International (DCI), the online survey of Guild members aimed to inform both corporate decision makers and economic development organizations on how trends in site selection are shifting and provide insight on the likely impact of the COVID-19 crisis on corporate location strategy.
View our webinar or download our top findings at the bottom of the page. You can also find more details in our press release.
8 Predictions From The Experts
The Shift In Global Manufacturing & Supply Chain Strategy Is a Bright Spot for North America
81%
Say COVID-19 will have a major impact on global supply chain strategies. Many predict an uptick in on-shoring to the US, Canada and Mexico
The “Work from Home Experiment” Will Change the Footprint of Office Real Estate
72%
Believe the rise in remote workers during the pandemic will have a major impact on how work is done in the future
52% of Site Selection Projects are Paused and 45% of Projects Are Moving Forward
55% Predict Companies will Restart Expansions/Additions of New Facilities in Q4 of 2020; 45% said 2021
Life Sciences, Logistics and Advanced Manufacturing Emerge as “Hot” Industries in a Post-COVID World
Most Active Industries Post COVID-19
Warehousing and Production Will Be the Most Active Functions
Most Active Functions Post COVID-19
Economic Development Organizations Should Focus on Both Business and Workforce Retention
Priorities also include helping displaced workers find employment – closely followed by talent/workforce attraction initiatives.
Advice to EDOs: Communicate Actively With Companies and Consultants
What Do Site Selectors Want to Hear?
