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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The Impact of Return to Office: 1 Billion Square Feet of Office Space is Available in the U.S.
As companies navigate the post-pandemic world, the question of returning to physical offices has been a pivotal issue. With hybrid work models becoming the norm, the implications for office space availability are significant. Recent data, including first-quarter 2024 statistics, highlight a transformative shift in how office space is utilized. Let’s delve into these trends and what they mean for the future of the office real estate market.
65% of companies have implemented return-to-office mandates
As of Q1 2024, there is a cautious but noticeable movement of companies returning to office settings. However, the landscape is far from a full return to pre-pandemic normalcy. Hybrid models predominate, with companies often opting for a mix of remote and in-office work. This approach allows for flexibility and has changed the demand dynamics for office space. The following summarizes current trends:
U.S. Site Selection Profile: Aerospace and Aviation
The aerospace and aviation sectors continue to experience ups and downs in terms of market activity. ?The impact of safety concerns with some of Boeing’s jets has led to a slowing of deliveries to major airlines. On the other hand, much like the automotive space, the industry is in the early stages of innovation, whether as the re-introduction of supersonic travel, greener engine and aircraft design, or potential electrification of the industry. Further, the industry remains heavily clustered in certain U.S. markets, which can be an advantage, but also a challenge. ?
For both established and growing original equipment manufacturers (OEMs) and suppliers, it is critical to identify the optimal location to maintain and grow their operations. ?This blog highlights some key data points and trends that Site Selection Group monitors. ?
States with strong aerospace growth and presence
The table below represents job growth and overall presence in the aerospace industry by state from 2023-2024. We measure growth in terms of...
Indiana has a robust number of economic incentive programs in its toolkit to encourage business development throughout the state. Understanding and leveraging such economic incentives is key to making informed investment decisions for companies looking to expand or relocate in Indiana. One of the state’s marquee programs, Economic Development for a Growing Economy (EDGE), stands out as a lucrative tool designed to attract and retain businesses. This initiative offers tailored, performance-based incentives that can significantly reduce the tax burden on qualifying companies.
Key features of the Indiana EDGE program
The EDGE program, administered through the Indiana Economic Development Corp. (IEDC), is structured to benefit companies committed to creating new jobs and making substantial capital investments in Indiana. The program primarily...
Five Methods to Maximize Support for Your Manufacturing Project
From 2020 until now, industrial site selection has experienced unprecedented activity in the United States, escalating to levels not seen since the Industrial Revolution. As manufacturing activity rose, so did the competition for resources such as workforce, real estate, utilities, transportation service providers, support services and economic incentives. The increased activity and constrained resources have impacted how manufacturers approach their site selection process to maximize support from state and local stakeholders.
Jobs created, capital invested and the legitimacy of a project will drive interest in economic development
It takes an array of state and local stakeholders to make an industrial site selection project successful. At a minimum, support from state and local economic development agencies, workforce development partners and utility providers is required to ensure success...
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3 Strategies to Streamline Your Corporate Real Estate Portfolio
In today’s fast-evolving corporate workplace landscape, managing a real estate portfolio—whether leased or owned—presents complex challenges that demand innovative solutions. Companies are increasingly turning to corporate real estate providers, sophisticated lease administration tools and centralized portfolio management strategies to drive efficiencies and optimize their real estate footprint. This blog explores these latest strategies and how they can transform corporate real estate portfolio management.
Leveraging corporate real estate providers without conflicts of interest
Corporate real estate providers offer a comprehensive suite of services that can significantly enhance the management of a diverse and geographically dispersed real estate portfolio. However, it is important to understand any conflicts of interest they may have as many of them represent landlords and investors. In fact, they often own real estate that your company may currently...
Maximize Outsourcing: Mastering the Champion-Challenger Model
In today's business landscape, contact center outsourcing has become a prevalent strategy for companies looking to streamline operations, reduce costs and access specialized expertise. However, the traditional approach of outsourcing your contact center operations to a single provider may not always yield the best results. Enter the champion-challenger model: a strategic framework that allows companies to optimize their outsourcing initiatives by leveraging the strengths of two providers and alternative onshore, nearshore and offshore geographies.
Exploring the champion-challenger model
At its core, the champion-challenger model involves engaging with two outsourcing providers: a primary "champion" and a secondary "challenger." The champion serves as the primary provider, handling most of the outsourcing responsibilities, while the challenger operates in a supporting role, ready to...
Best Practices for Business Process Outsourcing (BPO): A Guide for Modern Businesses
Business Process Outsourcing (BPO) is a strategic option for many organizations looking to improve efficiency, reduce costs and focus on core business areas. In today’s competitive market, leveraging BPO effectively is crucial. Below, we explore some of the best practices recommended for optimizing your BPO strategy.
1. Technology Integration
In the realm of BPO, integrating advanced technologies like Artificial Intelligence (AI) and robotic process automation is no longer a luxury but a necessity. These technologies enhance operational efficiency and accuracy, driving better outcomes such as reduced contact rates and increased efficiencies...
How Private Equity Firms Can Raise Capital Through Sale-Leasebacks
Private equity landscapes continuously evolve, with firms seeking innovative strategies to fund growth, refinance debt, and manage mergers and acquisitions effectively. According to a recent PwC report, 60% of CEOs are contemplating at least one acquisition in the next three years. This interest has been spurred by a lull in M&A activity in 2023, leading to a significant buildup of buyer demand. A critical challenge in this scenario is the efficient utilization of capital, particularly when large sums are immobilized in fixed assets like a portfolio company’s owned real estate.
Capital constraints in real estate
For private equity firms, owned real estate assets such as a portfolio company’s headquarters, manufacturing plant, distribution center, clinics, data centers, retail stores and similar buildings typically represent significant but dormant...
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.
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