A company’s costs of real estate, construction, energy, and taxes are typically the major cost drivers at a site other than its workforce. Real estate costs vary depending on decisions about whether the company wants to buy or rent real estate and is dictated by regional market issues such as available land, market regulation, vacancies, […]
A region’s workforce is a critical measure of its economic success. An examination of a community’s workforce has three distinct components: the size, unemployment rate, and education level of the workforce; the occupation and earnings of the workforce; and the commuting patterns of the workforce. The data collected for this analysis is the 2021 annual […]
The retirement of the Baby Boom generation and the reduction of the Civilian Labor Participation Rate triggered by Covid 19 created a skilled workforce crisis throughout the United States. In many regions, there are more open jobs than there are unemployed people. Understanding workforce industry strengths is another critical method to measuring a region’s workforce […]
How a site compares to other sites from a demographic standpoint can be a critical factor in a corporate site location decision. Demographics measure the impact of the population on any given issue. For over two hundred years, the impact of population growth on economic development has been a hot topic. In 1798, Thomas Malthus, […]
Overall macroeconomic performance of a region is a critical measure for companies considering a corporate site location project. Generally, companies seek out growing markets that attract industry and talent. Key measures of regional economic performance will include the measures noted in the table below. Gross domestic product (GDP), the featured measure of U.S. output, is […]
The Montrose Group, a national corporate site location, economic development consulting, and lobbying firm, today announced that senior economic development advisor and corporate site location consultant Wade Williams is joining the Montrose Group to launch an office in the Cincinnati marketplace that will serve Southwest Ohio, Indiana, and Kentucky. “Wade Williams will provide economic development […]
Local and state governments facing potential economic challenges that could slow revenue collections for the first time in over a decade are likely to search for the best tax policy that can retain and attract the industry that is their focus. 2023 will be a year when state policymakers not just focus on economic development […]
The Great Lakes states of Illinois, Indiana, Michigan, Ohio, Pennsylvania, and Wisconsin remain an economic development powerhouse particularly in the field of manufacturing. Manufacturing jobs, known as production jobs for federal government wage analysis purposes, pay on average $43,000 constituting high-wage jobs. Measuring industry concentration in an area illustrates industry strengths. This is measured by […]
While the South and Southwest regions of the United States will continue their long-term population growth, growing pains in these regions create an opportunity for the Industrial Midwest to rise once again. Rising labor rates, housing, real estate, and construction costs matched with infrastructure struggling to keep up with large population growth in the South […]
Beginning in May of 2022, the Montrose Group began the development of economic development strategic plans for three central Ohio municipalities. Now, the city of Circleville, Union Township, and Morrow County have all received their completed strategic. Tailored to the strengths and weaknesses of each specific area, the economic development strategic plans will provide these […]