Site Selection Process
We begin by building a relationship.
At Impact Economics, I take the time to understand your business, your goals, and the challenges behind your location decisions — not just the surface-level requirements.
This is a collaborative process where we work side-by-side to ask the right questions, uncover opportunities, and build solutions together. As your trusted advisor, I’m here to provide clarity, perspective, and unwavering support from first conversation to final decision.
The Process
1. Understanding Your Objectives
We begin by having a conversation to understand your business needs and strategic vision. Think of this as a conversation over coffee where we talk about your business, where you would like to take it, and whether or not working together will be a fit.
If it looks like we will be a fit, I will then ask you to send over some financial information for review. I will take a look at your data and we will have another conversation to see if a relocation is your best approach or if there is another way to improve your business
Sometimes a complete relocation may not be the best solution! You may need to find another building in your community or get an incentive from your community.
I will provide a detailed report with my findings and you can decide the best course for working together.
2. Community Search Process
Following the initial exploratory phase, I will prepare a Request for Information (RFI) customized to your specifications and distribute it to the states, regions, and communities you like.
I will gather that information and prepare a short list of communities and sites to consider.
3. Due Diligence
I will conduct a thorough due diligence analysis on the candidate communities and sites. Further, I will gather workforce, utility, and incentive information so that you have a clear picture of what is being offered.
4. Final Contract Negotiation
You then choose which community and site will work best for you and we start the process of negotiating final incentive packages and real estate terms. This also includes getting involved in managing the entitlement process.
5. Ongoing Incentive Compliance
Impact Economics is available to also deliver incentive compliance reporting and advocacy to incentive-granting agencies.
Finding the Right Site
What is corporate site selection? It is a systematic approach to identifying and evaluating the most suitable location for a particular business venture.
Here’s a breakdown of the methodology I use to help you find the right place to do business.
1. Needs Assessment
The process begins with a thorough understanding of the project's objectives, including location preferences, resource requirements, market access, and long-term growth aspirations. This step establishes the foundation for evaluating potential sites.
While each phase is important, this is perhaps the most critical step - our project will not be successful if we do not have a thorough understanding of your needs.
2. Data-Driven Analysis
My approach leverages robust data analytics to evaluate potential sites. We consider factors such as:
Economic Metrics: Market demand, labor costs, tax incentives, and growth forecasts.
Infrastructure: Access to transportation, utilities, and technology infrastructure.
Community Fit: Workforce availability, quality of life, and alignment with local economic initiatives.
Benchmark: We will compare each candidate site to where you are currently to see which one will be a good fit.
3. Market and Industry Insights
Leveraging our extensive industry expertise, we identify emerging trends and competitive advantages to pinpoint locations that offer long-term opportunities. Our research ensures your site is positioned for resilience and adaptability in a changing market.
4. Site Visit Coordination
Once we narrow down potential sites, we facilitate detailed site visits. These visits provide firsthand insights into each location’s benefits and challenges, allowing you to make informed decisions.
5. Incentive and Entitlement Negotiations
There is no such thing as a perfect site. Or the perfect community. We will discover an array of communities and sites that will each have their pros and cons. We will also discover that your project can be successful in any of these locations.
My approach is to use public incentives as a tie-breaker to determine the best location.
I will identify and negotiate incentive packages tailored to your project. This includes tax abatements, grants, workforce training support, and other available programs that reduce costs and enhance profitability.
I will also work closely with the candidate community to make sure that the site is properly entitled and the product can be delivered at your timeline.
6. Comprehensive Risk Assessment
Every site is thoroughly vetted for potential risks, including regulatory hurdles, environmental considerations, and long-term market viability. I prioritize transparency to ensure your chosen location supports sustainable success.
7. Final Recommendations
After an exhaustive analysis, I deliver a clear, actionable recommendation with supporting data. My recommendations are designed to empower you with the confidence to move forward with your chosen site.
At Impact Economics, I am committed to making the site selection process seamless, data-driven, and results-focused. By working together, you’ll find a location that not only meets your immediate needs but also positions you for future growth.
