Site selection decisions made now will have a dramatic effect on a company’s long-term viability. The economic landscape of today is much different than 10 years ago, and it’s likely the economic landscape in 10 years will change dramatically from what it is today. Companies with the best information and processes, with regard to the location of a new facility, will position themselves for success down the road. This is important for all industries, but especially transitional ones like the automotive sector.
Advanced manufacturing has evolved a great deal over the last decade, and along with it has come a high demand for skilled workers. This challenge is intensified when an automotive manufacturer is seeking the best location for a new, expanded, or relocated operation. Companies need to not only identify prospective sites, but also carefully analyze their suitability for their respective needs. From the perspective of the overall real estate market, including brownfield redevelopment and greenfield site development; transportation infrastructure; susceptibility to natural disasters; proximity to competitors and vendors; labor market conditions; and economic impact studies; sites must be examined for their current value and future impact to the company’s operations. Michigan, specifically Southeastern Michigan has some great sites to choose from.
Successful location modeling typically includes:
- Information on work force skill levels and labor costs
- Real estate costs
- Available economic development incentives
- Demographic statistics
- Cost of living
- Utility rates, availability, and redundancy
- Tax rates, both business and individual
- Infrastructure availability
- Transportation options and access to interstates, rail lines, and airports
- Regulatory environment
In the automotive industry, however, some site selection factors weigh more heavily than others, to the point where it is not only a question of thorough analysis, but also of interpreting the signs of the future. This type of understanding may be a most influential and critical factor for the industry in years to come.
For information on sites available in Huron Township Michigan please contact the Local Development Finance Authority 734- 753-4466 EXT 115 or www.hurontwpldfa.com