Economic development is spurred by a myriad of factors—emerging trends, new technologies, a business-friendly culture and, of course, a location with the right resources and capabilities to foster business growth.
Because the field of economic development depends so heavily on site selection, hearing from the experts is always a good way to gauge what matters most to businesses, as well as overall economic trends in general.
Read on as we explore surveys and workforce rankings from Site Selection Magazine, a helpful resource for gathering the insights of site selectors from across the country. Take a look.
The South heats up…
Earlier in 2018 (when Amazon was still deliberating on what city would be home to its newest headquarters), site selection consultants surveyed by Site Selection Magazine expressed interest in the potential for Southern cities such as Atlanta or Austin, which were both considered by the e-commerce giant. Though Greater Daytona Region locations may not have been included on the Amazon short list, the fact that site selection consultants saw potential in these “Sun Belt” spots suggests that Southern cities are becoming increasingly important, and attractive, to growing businesses—that we are major players worth considering.
The power of peers
The survey also highlighted an important aspect of the industry—its reliance on real-world connections. According to the consultants surveyed, the majority were most likely to turn to peers for up-to-date information about the field. This represents, in many ways, the importance of networking—as we forge relationships in the field of site selection, we are then better able to serve our clients and our communities with the best information possible.
Workforce matters most
Another key survey response: workforce was, unsurprisingly, the number-one leading factor for expansion into a given area for corporate clients. Businesses want to go where there is a thriving pool of skilled, ready-to-work talent—and fortunately, Florida and specifically the Greater Daytona Region offer exactly that.
Florida continues to be a major contender
As another indicator that Florida is an increasingly business-friendly state, it earned the spot of number-four among the Atlantic region states for regional workforce development—increasing since 2017, when it was number-five. We expect its ranking to only improve in future years as the Sunshine State, and Greater Daytona Region, continue to make strides in fostering a skilled and well-trained workforce.
In an effort to stay up-to-date on the latest in site selection, Team Volusia travels throughout the year to conferences where we can get an up-close, firsthand understanding of emerging site selection trends around the country—and the world. Be sure to stay tuned to learn more about these events and other key insights, all year long.