Featured in REJournals.com, Tim Cook and Katie Culp, CEO and president, respectively, of KSM Location Advisors, address site selection decision making and what the national top 10 lists don’t tell you. These lists, while helpful, use set criteria and fail to consider the multitude of issues that drive location decisions. In this article, Tim and Katie outline three criteria found in most deals regardless of industry: low cost of doing business, states with good incentive packages and states with “good harmony.”
Last month our phone rang with a prospective client looking for a site to grow that client’s business. We asked about the business, the client’s needs and expectations, and what regions the client was considering.
Texas, the client said. Has to be Texas.
Having such a specific response piqued our interest. Why Texas, we asked? Because every time our client saw a list of the states with the best business climates, Texas always seems to be there.
Yes, these lists are useful, and increasingly our clients review rankings when pulling together their what-if lists of states to consider, especially early in the process. But these annual rankings (take your pick – Forbes, CNBC, Tax Foundation) use set criteria, and don’t appreciate the holistic, practical and nuanced elements of site-selection decision-making.