10 Reasons to Hire a Site Selection and Economic Incentive Consultant

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.

2. Real-Time Market Intelligence

Market conditions can fluctuate, influenced by economic shifts, policy changes and competitive actions. A seasoned consultant stays abreast of these dynamics to provide you with the most current and relevant information to guide your site selection process.

3. Connections with Economic Development Organizations

Established relationships with economic development organizations are crucial for selecting the best markets and negotiating favorable economic incentive terms. Site selection consultants leverage these connections to advocate on your behalf, ensuring access to the best opportunities and incentives available.

4. Unbiased, Independent Assessment

Internal biases can skew location decisions, potentially leading to suboptimal outcomes. An independent consultant provides an objective assessment to help you avoid costly mistakes driven by internal politics or uninformed preferences.

5. Expert Evaluation of Real Estate and Site Infrastructure

Understanding the nuances of real estate and underlying infrastructure requires specific expertise. Consultants evaluate these elements thoroughly, ensuring the site supports your operational needs and long-term growth.

6. In-Depth Analysis of Tax Implications

Tax considerations can significantly impact the financial viability of a site. Consultants analyze local and regional tax structures, assessing how they align with your business model and financial strategies.

7. Identification and Negotiation of Economic Incentives

From tax abatements and credits to cash and infrastructure grants, economic incentives can substantially reduce operational costs. Consultants not only identify these incentives but also negotiate terms that maximize their value to your business.

8. Creating and Maximizing Leverage in Negotiations

Having a consultant on your side helps create and maximize leverage in real estate and economic incentive negotiations. Their expertise and strategic approach ensure you enter negotiations with a strong position and clear goals.

9. Avoidance of Conflicts of Interest

Unlike traditional real estate firms that may have conflicting interests, independent consultants focus solely on your best interests, ensuring transparency and integrity in the decision-making process.

10. Mitigation of Risk

Making the wrong location decision can have severe consequences, including job loss for those responsible. Hiring a consultant mitigates this risk, providing peace of mind that the decision is backed by thorough research and professional analysis.

Conclusion

In today’s competitive and complex business environment, choosing the right site selection and economic incentive advisor can be a game-changer for your company’s growth and sustainability. By engaging a site selection and economic incentive consultant, you not only enhance the efficiency of the process but also secure a foundation that supports your business’s strategic objectives. Ensure your next move is a step toward success by choosing the expertise that a specialized consultant brings to the table.