Site Selection Process
Define Project Criteria
We begin by understanding a company’s needs and preferences. We ask a lot of questions to make sure we have the most comprehensive understanding of a business and project as possible. Asking the right questions, even simple ones, helps us get to the right answers.
Identify a Market and Complete an Evaluation
During this phase, we compare markets based on a specific set of standards developed for the project. These standards will likely include but are not limited to supply chain needs, available labor, overall tax burden, and potential federal, state and local incentives.
Analyze the Costs and Benefits of Each Market Relative to One Another
Our team develops a weighted decision matrix that can be used to evaluate a set of choices against a set of criteria. This powerful quantitative technique is an exceptionally useful tool that helps our clients choose the best option and based on the data for a wide range of criteria.
Public and Private Partnership Strategy Development
Developing internal and external confidentiality protocols and communications and project engagement strategy are key to ensuring consistency of message and maximizing the positive impact of that message. Our vast experience, relationships and access to senior economic development officials across North America provide us with unparalleled insight into the differing needs, wants and viewpoints of each State and locality under review.
Site Identification, Project Impact Development and Negotiation
With potential sites identified, we will analyze the economic impact and tax revenue propositions of the project. We will then get to work contacting economic development leaders at the state and local levels in a confidential manner in each market to negotiate initial incentive packages for the project. The types of specific credits will vary by state, municipality, and often down to the precise street address.
Site Recommendations
Why do we do what we do? To help our clients mitigate risk while also finding the best location possible for their operations to flourish. When we recommend a short list of sites we do so based on the specific needs of our client and their project, so they know they have a tailored solution to their needs. Our process is proven, time-tested and rigorous, and allows our clients to make an immensely informed decision. When it’s time to present a short-list of locations to senior management and board, our clients will do so with the information, analysis and insight that create a bedrock of confidence for all the stakeholders reviewing and approving of the project.
Final Site Selection
As an ancillary business of the Vorys law firm, we understand that the details matter. When making the decision on a final site, our team will ensure that prior to any commitment being made, ‘the I’s are dotted and T’s are crossed.” Entering into an agreement with public and quasi-public entities must be done so carefully and with eyes wide open. Our team has immense experience in negotiating the business terms and assisting our clients wherever possible to ensure that all requirements and parameters are fully understood and are as beneficial to our clients as possible, so when the time comes to publicly announce the project, our clients feel assured they are making the best decision.
After the Announcement
Our services and support of our clients do not end after the successful announcement and memorialization of the project. Ensuring our clients actually receive the benefits and helping them through the compliance process is another core strength of our company. It is important that our clients understand the public awareness & exposure of their award (and performance), annual obligations, risks, default penalties and amendment potential, among others. We offer support and a range of services and associated time parameters all based on the specific needs of each project and client: we will customize support based on our client’s needs, not based on a cookie cutter approach.
Site Selection Criteria Decision Factors
Site location analysis and comparison of the following decision factors:
- real estate availability and occupancy/acquisition costs
- surrounding and adjacent use limitations on potential facility locations
- labor availability and estimated costs, presence of desired skill sets, compatible skill sets resident in the region, “employer of choice” opportunity, existing industry satisfaction level of local workforce
- taxation on real estate, machinery and equipment, corporate earnings, special assessments and impact fees, sales tax
- utility rates, availability, reliability and delivery schedule for power, water and sewer, gas
- transportation costs (through a third-party consultant)
- entitlement and permitting processes and perceived difficulty
- financial health and economic stability of local/state government
- political support from state and local government
- presence and history of similar businesses in region
- other key requirements which drive success for your business
Incentive identification, comparison and strategic negotiation in advance of formalizing binding agreements
Negotiation/acquisition support of real property solutions
Assistance with state and local governing authorities for key entitlements and permits
Identification and procurement of additional resources for design, engineering, legal, environmental, and specialized consulting services