The corporate site location process helps companies decide where to locate, and this process entails a lot more than tax incentives and is driven in large part by data that helps a company pick the best place to grow. Triggers such as the end of a real estate lease, growth needs beyond the current facility, decay of the existing facility, consolidation of existing facilities, a growth opportunity tied to a customer, a merger of companies, or a company seeking to capitalize on an economic trend are signs that a company should undertake a corporate site location project.
- Define the project to learn about the industry, the number of jobs, payroll, and capital investment planned by a company, needs for the project site, and geographic markets that fit the company’s business plan leading to the creation of potential state and regional target list for the company’s location.
- Conduct market research to understand the demographic, macroeconomic, industry cluster, and workforce availability to create a list of potential state and regions worthy of the company’s corporate site location project to create a list of 5-10 potential sites worthy of site analysis.
- Conduct site analysis research that reviews sites on the list of potential sites for the company’s corporate site location project that reviews potential sites available for buy or lease, cost of doing business at the sites including labor wage rates, tax policy, infrastructure needs, and economic development incentives to create a list of 3 potential sites worthy of site development.
- Negotiate site development by determining the best option among the three sites suggested by market research and site analysis that fit the company’s business purpose for the corporate site location project.
- Send a confidential Request for Proposal or project letter using a corporate site location consultant or legal counsel that outlines the nature of the corporate site location project, and the specific needs of the company related to the site in question with specific infrastructure, workforce, incentive, and site needs.
- Negotiate site control through an option to purchase for a community or developer willing to sell or lease the land at a defined and competitive rate for contiguous and developable land without incompatible uses on and surrounding the site.
- Negotiating needed to utilities (water, sewer, electric, natural gas, and fiber) at the property boundaries needs to be negotiated.
- Defining the infrastructure needs of the site and the surrounding area is critical from a transportation standpoint as this impacts the zoning process, and marketability of the site.
- Conducting due diligence studies need to be completed that address environmental, geotechnical, wetland, cultural resource, archaeological, endangered species, U.S. Army Corps of Engineers, historic preservation and fish and wildlife.
- Advocating for zoning approval needs to be gained for the site to be developed and marketed to end users.
- Negotiating economic development incentives is the final step in making a site job ready.
- Closing on the land following the approvals and agreements signed for economic development incentives.
- Construction on the site for the corporation site location begins following all the successful completion of the due diligence report, gaining of zoning approval, finalizing economic development incentives and closing on the land purchase.
Montrose Group Corporate Site Location Process
Please contact Wade Williams at [email protected] if you need assistance with any corporate site location matter.
