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Beth Land-The Inside Track of Site Selection WEDN 2019

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Site selection process for SiteSelectionGroup, With tips and takeaways, site visit tips, role of economic developer

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Beth Land-The Inside Track of Site Selection WEDN 2019

  1. 1. WOMEN’S ECONOMIC DEVELOPMENT NETWORK 1 THE INSIDE TRACK OF SITE SELECTION WOMEN IN ECONOMIC DEVELOPMENT FEBRUARY 28, 2019
  2. 2. TABLE OF CONTENTS D a l l a s H e a d q u a r t e r s 8 3 0 0 D o u g l a s A v e n u e S u i t e 7 0 0 D a l l a s , T x 7 5 2 2 5 G r e e n v i l l e O f f i c e 2 0 1 R i v e r P l a c e , S u i t e 5 0 0 G r e e n v i l l e , S C 2 9 6 0 5 8 6 6 . 9 3 8 . S I T E ( 7 4 8 3 ) w w w . s i t e s e l e c t i o n gr o u p . c o m A N E X I S P A R T N E R o INTRODUCTION 3 o SITE SELECTION PROCESS 10 o TIPS & TAKEAWAYS 22 o BETH’S AUTOBIOGRAPHY 26
  3. 3. WOMEN’S ECONOMIC DEVELOPMENT NETWORK 3 1.0 - INTRODUCTION
  4. 4. WOMEN’S ECONOMIC DEVELOPMENT NETWORK 4 OUR VALUE PROPOSITION Fully integrated approach to finding the optimal location. 1 2 3LOCATION OPTIMIZATION NEGOTIATION LEVERAGE ON-GOING SUPPORT LOCATION ANALYTICS Comprehensive analysis of workforce, logistics, business environment, infrastructure OPERATING COST EFFICIENCY Evaluation of all operating costs to determine the total financial impact ECONOMIC INCENTIVES Negotiation of statutory and discretionary incentives with state, county & municipalities o Tax Abatements o Sales & Use Tax Credits o Cash Grants o Infrastructure Grants o Training Subsidies o Utilities Discounts REAL ESTATE Negotiation of real estate terms without any conflicts of interest INCENTIVE COMPLIANCE Manage on-going compliance activities for incentives over their useful life o Payroll reporting o Capital investment reporting o Clawback monitoring o Site inspections o EDC relationship management o Local management coordination INCENTRAK® TECHNOLOGY Utilize the latest technology to monitor the incentives compliance process
  5. 5. WOMEN’S ECONOMIC DEVELOPMENT NETWORK 5 ABOUT SITE SELECTION GROUP Industry leader in advanced location analytics, economic incentive & real estate strategies $300M REAL ESTATE transaction value in 2018 1,253 GLOBAL CITIES proactively researched 30 FORTUNE 100 COMPANIES represented 250+ PROJECTS completed each year 2.4M SQUARE FT. of real estate transaction in 2018 $2.0B ECONOMIC INCENTIVES managed for our clients SCOPE OF SERVICES LOCATION ADVISORY ECONOMIC INCENTIVES CORPORATE REAL ESTATE ECONOMIC DEVELOPMENT CONSULTING
  6. 6. WOMEN’S ECONOMIC DEVELOPMENT NETWORK 6 OUR CLIENTS & INDUSTRIES SERVED SSG serves a diverse client base across all industries and project types. We understand the real estate needs of these companies, and more importantly, have experience providing real estate due diligence and transaction services on their behalf. The following logos demonstrate the more recognizable companies for which SSG has worked.
  7. 7. WOMEN’S ECONOMIC DEVELOPMENT NETWORK 7 OUR ECONOMIC DEVELOPMENT CLIENTS STATE/UTILITY REGIONAL COMMUNITY
  8. 8. WOMEN’S ECONOMIC DEVELOPMENT NETWORK 8 SSG OFFICE LOCATIONS We welcome economic development any time, any place!! DALLAS, TX AUSTIN, TX GREENVILLE, SC NEW YORK, NY
  9. 9. WOMEN’S ECONOMIC DEVELOPMENT NETWORK 9 SSG TEAM At SSG, our people are what make us unique. Not only do we have a diverse set of skillsets and experience, we also have a deep bench. SSG is the largest independently-owned site selection firm with over 36 employees and growing. Our team is what allows us to serve our clients from the very beginning of a project during the feasibility analysis and logistics assessment, all the way to the end of a project, with incentives negotiation and compliance services. The breadth and depth of our experience gives SSG a unique perspective, as well as guaranteeing the ability to meet the schedule and capacity needs of our clients. TOMMY HANKINS SENIOR ASSOCIATE
  10. 10. WOMEN’S ECONOMIC DEVELOPMENT NETWORK 10 2.0 – SITE SELECTION PROCESS
  11. 11. TYPICAL SITE SELECTION PROCESS PROCESS TO IDENTIFY & SECURE OPTIMAL LOCATION Needs Assessment Site Selection Analysis Tours and Due Diligence Negotiations • Demographics • Labor force analysis • Economic incentives • Real estate research • Infrastructure • Wage surveys • Business climate • Geo-political risks • Accessibility • Operating cost analysis • Decision matrix • Economic development agencies • Community leaders • Workforce commission • Employers interviews • Recruitment agencies • Real estate options • Infrastructure providers Economic Incentives • Tax abatements • Training grants • Tax credits • Cash grants • Real estate grants Real Estate • Acquisitions • Dispositions • Build-to-Suits • Lease Renewals Secure Economic Incentives & Real Estate Identification of Finalist Locations Comprehensive Evaluation of Candidate Communities Understand Client’s Needs & Objectives • Strategy formation • Business drivers • Project timeline • Criteria weighting • Employee profile • Job creation • Infrastructure needs • Capital investment • Geographic preference • Facility specifications PHASEKEYSTEPSRESULTS Community Filtering Identify Candidate Communities • Labor force size • Competitor concentration • Wage rates • Unemployment rate • Time zone • Accessibility • Union conditions • Utility rates • Real estate availability • Economic incentive climate 1 2 3 4 5 6 Economic Incentive Compliance • Annual reporting • Training reimbursements • Job creation filings • Applications • Contract amendments • Site audits • EDC coordination Compliance of Economic Incentives Includes some level of workforce analytics Secondary Research Primary Research 11
  12. 12. PRIMARY INDUSTRIAL LOCATION DRIVERS UNDERSTANDING THE MAGNITUDE WORKFORCE PLAYS IN SITE SELECTION DECISIONS 12 WORKFORCE TRANSPORTATION INFRASTRUCTURE ACCESSIBILITY BUSINESS & TAX CLIMATE REAL ESTATE UTILITIES REGULATORY & ENVIRONMENTAL ECONOMIC INCENTIVES
  13. 13. COMPREHENSIVE WORKFORCE ASSESSMENT INTEGRATING VARIOUS WORKFORCE INDICATORS 13 Supply & demand for specific skill sets Market wage structures Workforce characteristics & demographics Labor migration patterns Anecdotal data Pipelines of new talent Factors in Assessing Workforce Employer Interviews Worker Surveys Job Postings Data by EMSI Occupation data at 6-digit SOC code Industry data at 6-digit NAICS code Wages by Economic Research Institute Quarterly Workforce Indicators Workforce Development Partners Education Institution Interviews Staffing Agency Interviews Source of Data Points
  14. 14. WHERE DOES WORKFORCE DATA COME FROM? THE KEY DIFFERENTIATOR OF PROJECT PIONEER 14 Qualitative & Primary Research  In depth employer interviews  In depth employer surveys  Comprehensive statewide workforce survey Quantitative & Secondary Research  Occupation data (EMSI)  Industry data (EMSI)  Demographic data (Claritas)  Job demand data (EMSI)  Wage data (ERI)  Commute data (LODES)  Workforce Dynamics (QWI) Critical, but oftentimes overlooked because of time and cost constraints
  15. 15. WOMEN’S ECONOMIC DEVELOPMENT NETWORK 15 FILTERING PROCESS The below diagram depicts the typical site selection filtering process. DESCRIPTION CORPORATE SITE SELECTION PROCESS MARKET EVALUATION / SITES SUBMITTED FILTERING MECHANISM SITE VISIT RECOMMENDATIONS FOR SHORT-LISTED SITES
  16. 16. WOMEN’S ECONOMIC DEVELOPMENT NETWORK 16 Successful Communities Successful Community Strong Strategic Plans Professional Economic Development Teams Strong Economic Development Office Comprehensive Training and Workforce Development Programs Flexible Incentive Programs Product that is ready to go
  17. 17. WOMEN’S ECONOMIC DEVELOPMENT NETWORK 17 IDENTIFYING MUST vs. WANT FACTORS • Minimum criteria – “Must” Factors – Absolutes for success – Cannot be compromised – Relatively easy to measure • “Want” Factors – Important, but not absolute – Willing to concede in one area to gain in another – Measurable
  18. 18. WOMEN’S ECONOMIC DEVELOPMENT NETWORK 18 IDENTIFYING MUST vs. WANT FACTORS 1. Property Size 2. Interstate Access 3. Rail 4. Utilities 5. Air Attainment Project Minimum Criteria Yes Yes No No Yes Location Eliminated EXAMPLE
  19. 19. WOMEN’S ECONOMIC DEVELOPMENT NETWORK 19 IDENTIFYING MUST vs. WANT FACTORS • Assigning values to these factors – Establishes the importance of one factor over the other – Sharpens the visibility of important criteria • Modeling these factors – Enables the evaluation and processing of large quantities of information and data – Assists in the decision-making process
  20. 20. WOMEN’S ECONOMIC DEVELOPMENT NETWORK 20 IDENTIFYING MUST vs. WANT FACTORS • Examples of “Want” factors and subfactors include: – Investment cost – property, site prep, infrastructure extensions, and available incentive offsets – Operating cost – average wage, tax burden, utility rates, proximity to suppliers and/or customers, and available incentive offsets – Labor quality – labor interview assessment, access to adequate workforce, educational attainment, enrollment in technical schools, etc.
  21. 21. WOMEN’S ECONOMIC DEVELOPMENT NETWORK 21 IDENTIFYING MUST vs. WANT FACTORS • Examples of “Want” factors and subfactors include: – Property suitability – site size and configuration, access, surrounding land use, topography, floodplain, natural disaster risks, elevation, etc. – Schedule – infrastructure extensions, rezoning/variance, property acquisition, permitting, etc. – Quality of life – cost of living, available housing, quality of public school system, quality of medical facilities, etc.
  22. 22. WOMEN’S ECONOMIC DEVELOPMENT NETWORK 22 3.0 – TIPS AND TAKEAWAYS
  23. 23. WOMEN’S ECONOMIC DEVELOPMENT NETWORK 23 SITE VISIT TIPS • Competition among communities is fierce. Bring you’re A-game! • Think through logistics and details – consultants want your feedback to make sure the visit goes smoothly. • Importance of first impressions – always give a welcome message! • Keep up with changing technologies for better prospect experience, and to avoid being cut. • Avoid sentences like “We have one of the best _____ in the country” – instead focus on tangible, specific examples of your community’s value proposition.
  24. 24. WOMEN’S ECONOMIC DEVELOPMENT NETWORK 24 ROLE OF ECONOMIC DEVELOPER • Know your product • Establish your response team (mentor those new to ED on RFI’s) – Workforce – Site Development – Finance • Aim to reduce risks: Cost & Schedule • Respond with quality, critical, and accurate information • Operate in a project environment – Deadline driven – Customer focused – Competitive
  25. 25. WOMEN’S ECONOMIC DEVELOPMENT NETWORK 25 KEY TAKEAWAYS & TIPS Professional Development  Know your community. Never stop asking questions.  Think critically  Do not just relay the information – understand it  Continuous improvement – set calendar reminders  Know your weaknesses. Own them and address them.  Be the first to volunteer for the hard and tedious work – it will payback tenfold.
  26. 26. WOMEN’S ECONOMIC DEVELOPMENT NETWORK 26 4.0 – BETH’S AUTOBIOGRAPHY
  27. 27. WOMEN’S ECONOMIC DEVELOPMENT NETWORK 27 BETH’S AUTOBIOGRAPHY
  28. 28. WOMEN’S ECONOMIC DEVELOPMENT NETWORK 28 SITE SELECTION GROUP – GREENVILLE, SC 201 RiverPlace, Suite 500, Greenville, SC Please come and visit!
  29. 29. WOMEN’S ECONOMIC DEVELOPMENT NETWORK 29 BETH’S AUTOBIOGRAPHY
  30. 30. WOMEN’S ECONOMIC DEVELOPMENT NETWORK 30 BETH’S AUTOBIOGRAPHY Sarah Margaret 1 yr – Elizabeth 3.5 yrs
  31. 31. WOMEN’S ECONOMIC DEVELOPMENT NETWORK 31 KEY TAKEAWAYS & TIPS Personal Development  Set your goals and priorities.  Have a strong backbone – stand up for yourself.  Be intentional about finding the right “corporate” culture fit for you.  Be patient. Be confident.
  32. 32. WOMEN’S ECONOMIC DEVELOPMENT NETWORK 32 KEY TAKEAWAYS & TIPS
  33. 33. WOMEN’S ECONOMIC DEVELOPMENT NETWORK 33 8300 DOUGLAS AVENUE SUITE 700 | DALLAS, TX 75225 866 . 938 . SITE www.siteselectiongroup.com QUESTIONS?

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