In this edition of On the Move, we share the results of our recent online survey conducted to determine expansion and relocation trends of U.S. headquartered companies. Our survey participants included many Fortune 100 and Fortune 200 companies from a diverse industry spectrum including Manufacturing, Airlines & Aerospace, Financial Services, Retail & Consumer, Telecommunications, Healthcare & Pharmaceuticals, Utilities, Energy, Transportation & Delivery, Entertainment & Leisure, and Food & Beverage.
- Below are the top findings from our business incentives survey:
- Nearly 60% of respondents indicated that they plan on relocating or expanding in the next three years.
- Half of those companies who planned on relocating or expanding have already chosen a site.
- Texas and California garnered the most interest with regards to expanding or relocating.
- Companies in the manufacturing industry had the most interest in expanding or relocating.
- Most respondents who plan to expand or relocate in the next three years plan to definitely add jobs.
- The majority of respondents who plan to expand or relocate in the next three years plan to invest over $30 million.
- The largest projects indicated on the survey would create in excess of 1,500 jobs and $15M of investment.
- 88% of the companies who responded have previously applied for and/or received incentives.
- Tax-based incentives were more important than non-tax based incentives to the majority of survey responders.
- Workforce-related issues were the most important factors in considering a new site. “Other” factors included location of distribution/supply assets, business strategy and fit with current footprint and corporate culture.
Most Important Factors in Site Selection
Thank you very much to everyone who participated in our Expansion and Relocation Trends survey and we hope you enjoyed your gift card! If you are interested in participating in future surveys, please contact us to be added to the list.
Let Us Help With Your Expansion or Relocation Needs!
As the economy improves around the country, finding the right community to satisfy a company’s needs is getting tougher. Our professionals have years of experience analyzing extensive data to find the right workforce and the best operating cost environment for your company. By helping you select the most cost-effective site, we also enhance the value of your economic development incentives and simplify the award process. Our team averages awards of 20% to 25% of capital spend, and produce even higher results in instances where we have at least 100+ days to negotiate.