The second edition of a primary research study, The State of Site Selection, identifies the top trends impacting the facility location decision making process in the United States and globally. The report is a joint release of the Site Selectors Guild (the Guild) – the only association of the world’s foremost professional site selection consultants – and Development Counsellors International (DCI) – the leader in travel, economic development and talent attraction marketing.
The first edition of The State of Site Selection was released in March 2020, just days before the COVID-19 shutdown. Circumstances for corporate site selection are much different two-and-a-half years later. “Despite the challenges presented by the pandemic and the social, political and economic shocks that followed, Guild members collectively report that project activity continues at an unprecedented rate and the speed at which clients want to get to market has only accelerated,” says Gregg Wassmansdorf, board chair of the Site Selectors Guild and Senior Managing Director, Global Consulting at Newmark.
Key findings from the report include:
- The State of the Workforce: Access to talent remains the most important global factor in location decisions as employers face turbulent labor markets, evolving workplace models, immigration policy constraints, insufficient worker training programs and an increased focus on locations’ population diversity.
- The State of Risk Mitigation (Natural, Geopolitical, Supply Chain): Companies are minimizing supply chain risk through greater redundancy of operations and seeking locations with limited natural disaster risk.
- The State of Real Estate, Sites and Buildings: Real estate challenges are seen across office and industrial projects, as new workplace models result in a surplus of office space while increased demand results in a shortage of industrial properties – sites and buildings – with desired utility infrastructure and access to a skilled workforce.
- The State of Environmental, Social and Governance (ESG) Initiatives: Company perspectives on ESG vary greatly based on ownership, industry sector, firm size and management philosophy, and with differing weight placed on the environmental and social pillars.
Access the full report here.
About the Site Selectors Guild
The Site Selectors Guild is the only association of the world’s foremost professional site selection consultants. Guild members provide location strategy to corporations across the globe and for every industry, sector, and function. Founded in 2010, the Site Selectors Guild is dedicated to advancing the profession of international corporate site selection by promoting integrity, objectivity and professional development. Members are peer-nominated, vetted, and must demonstrate significant professional location advisory experience. In the past three years alone, Guild members facilitated the announced creation of approximately 165,000 jobs and $90 billion in announced capital investment. Guild membership is the highest standard in the site selection industry. For more information, visit siteselectorsguild.com or follow @siteselectguild on Twitter.
About Development Counsellors International
Development Counsellors International (DCI) is the leader in travel, economic development and talent attraction marketing. Since 1960, DCI has worked with more than 500 cities, regions, states and countries, helping them attract business investors, visitors and workers. DCI has offices in New York and Denver. For more information, visit aboutdci.com or follow @aboutDCI on Twitter.
Nick Reshan, DCI