Location Intelligence Newsletter
Site Selection Group, LLC
Accelerating your business with location analytics, economic incentive management, and corporate real estate solutions.
Site Selection Group is pleased to release the LinkedIn version of our monthly Location Intelligence Newsletter. Let our location strategists help you learn, navigate, and stay informed about the latest site selection trends.
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Is AI the Site Selection Tool of the Future?
By Ceci Grover
Site Selection Group, a full-service location advisory, economic incentives and real estate services firm, is typically on the journey with our manufacturing clients from the time they begin a site search through construction and the start of operations (and in many instances much longer due to our economic incentive compliance service offering).
Through our engagements with companies in a wide range of industries, we see more and more of them looking to dip their toe in the water of incorporating AI into their operations. Like our clients, Site Selection Group has even started to incorporate AI in small part to automate and streamline processes behind the site selection search protocol. But more broadly, understanding that an ultimate site selection decision can be paramount to the success of a project, we put AI to the test to see if it could solve many of the bigger location challenges and decisions companies are facing across the country.
Starting with a simple question…
Texas Enterprise Zone Program Overview
By Will Ramirez
The Texas Enterprise Zone Program (TEZ) is a key economic development tool designed to promote job creation and capital investment in economically distressed areas of Texas. Administered by the Texas Economic Development Bank within the Office of the Governor Economic Development and Tourism Division, the program grants local communities the ability to partner with the state to encourage economic growth through various tax incentives. Under this program, companies designated as Enterprise Zone projects may qualify for state sales and use tax refunds on taxable purchases made to construct or improve their facilities.
Candidates for the TEZ
The ideal candidates for the TEZ are businesses planning significant capital investments in regions identified as economically disadvantaged or needing revitalization. These include various sectors such as manufacturing, research and development, distribution, warehousing, headquarters and professional services such as back office support.
10 Call Center Industry Trends Impacting Site Selection Strategies
By King White
The call center industry is undergoing significant changes, influenced by technological advances, geopolitical risks, shifts in consumer expectations and the global economic climate. As companies seek to optimize their customer service operations, the criteria for selecting call center locations have evolved. This blog explores the latest trends in call center locations, highlighting how companies adapt to meet operational demands and strategic goals.
1. Diversification Away from Traditional Hubs
Historically, countries like India and the Philippines have dominated the call center industry due to their large, English-speaking populations and cost-effective labor markets. However, recent trends show a shift toward diversification in location strategy. Companies are now exploring locations in Latin America, Eastern Europe and Africa, driven by the need for multilingual support and closer proximity to their customer bases in similar time zones. Countries such as Bulgaria, Colombia, Honduras, Kenya, Egypt and South Africa are emerging as the latest hotspots due to their multilingual capabilities, low labor costs and available talent.
10 Reasons to Hire a Site Selection and Economic Incentive Consultant
By King White
When expanding or relocating your business, the decision of where to place your new operations is pivotal. While it might be tempting to handle site selection and negotiations internally, the complexities and stakes involved make a compelling case for specialized expertise.
Here are 10 reasons why hiring a site selection and economic incentive consultant is not just a smart choice, but a strategic necessity.
1. Specialization in Site Selection and Economic Incentives
Site selection is an art that balances data science with deep market understanding and strategic foresight. Consultants specialize in navigating these multifaceted challenges, transforming data into actionable insights and tailored strategies that align with your business objectives.
U.S. Site Selection Profile: Chemical Industry
Chemical projects can be big – really big. Upstream chemical processing plants and petrochemical operations on the Gulf Coast can easily require tens of billions of dollars of capital investment and extreme levels of utility inputs. But at the same time, some chemical projects can be much smaller, processing smaller amounts of critical inputs for industries like food, life sciences, automotive, batteries and other forms of alternative energy. In short, perhaps more than any other industry, the chemical industry is broad. Site Selection Group sees disparate project requirements for companies actively looking for a new location.
This blog highlights some key data points and trends that Site Selection Group monitors in this industry, knowing it is diverse.
The AI Boom: Driving Demand for Data Center Real Estate
By King White
The digital economy is expanding rapidly, fueled by artificial intelligence (AI) advancements. As AI technologies evolve, so does the demand for the infrastructure that supports them. One of the most significant impacts of this growth is on data center real estate. The surge in AI development has led to a marked increase in demand for data centers, as companies seek robust solutions to handle vast amounts of data processing and storage. This blog explores the factors contributing to this trend and what it means for the future of data center real estate.
Growing AI capabilities and data demands
AI applications, from machine learning models that predict consumer behavior to algorithms that drive autonomous vehicles, require massive amounts of data. These datasets are not only large but need to be processed and analyzed quickly, which puts immense pressure on existing data infrastructure. The complexity and computational power are significant, creating escalating demand for state-of-the-art data center facilities with high-density computing and substantial power capacity support.
The Ripple Effects of Tech Layoffs in 2024 on the Economy, Commercial Real Estate and Site Selection
By King White
The tech sector, a stalwart of the U.S. economy, is undergoing significant changes. So far in 2024, the industry has undergone approximately 100,000 layoffs globally, with about 70% of these in the United States. This downturn could have profound implications not just on the economy but also on work-from-home trends, commercial real estate and site selection.
Impact on the economy
The tech industry contributes about $2 trillion to the U.S. gross domestic product (GDP) and employs around 12 million workers, making it a critical economic driver. The large-scale layoffs could thus significantly dampen economic growth, potentially affecting everything from consumer spending to innovation rates.
Site Selection Group is a leading provider of global location advisory, economic incentives, and corporate real estate services. Our purpose is to deliver conflict-free solutions that enable our clients to make a positive impact in their communities. Our mission is to connect companies to the optimal locations through our integrated service offerings which include: Location Advisory Consulting, Economic Incentive Services, Corporate Real Estate Services, and Economic Development Consulting.
If you have any questions, get in touch with us, or leave a comment below.