Shrewd businesses and their consultants must evaluate several different and, at times, interconnected factors when determining the right location for their next corporate office, headquarters, manufacturing facility, or retail store. Georgia has been the state of choice for many businesses and continues to be highly touted by companies looking for the next ideal location. In 2023, Area Development magazine ranked Georgia as the number one state for doing business for the 10th consecutive year.i The other states that rounded out the top four locations were also in the South: South Carolina, Tennessee, and North Carolina in that order. Here are some determining factors businesses and consultants should consider when making site selection decisions and why Georgia will likely remain at the top of the list for many months in 2024.
- Qualified Workforce. Businesses seeking to relocate or develop facilities must find locations with skilled workers available at competitive wages. A business’ access to qualified and competitive employees is an absolute requirement for any successful relocation or expansion project. Georgia’s workforce comprises a diverse talent pool that continues to grow. Georgia is seventh in the nation for domestic migration, and the state has an especially strong talent pool in transportation, production, and computer and mathematical occupations.ii
- Location Advantages. For a chosen location to thrive, businesses must have access to customers, suppliers, and transportation hubs. Many businesses establishing offices or headquarters typically seek locations that appeal to prospective employees. Georgia has well-suited locations for businesses. Many people gravitate to Georgia for its warm weather, the plethora of recreational activities around the state, and the expanding array of city-wide and mixed-use areas across Atlanta’s metropolitan region, offering vibrant work-live-play environments.
- Infrastructure. Smart site selection evaluations will consider the infrastructure of a potential location and whether it aligns with a business’ needs. This may include an analysis of a location’s highways, railways, ports, airports, utilities, and other energy sources. Georgia is home to Hartsfield-Jackson Atlanta International Airport, the world’s busiest airport. On the coast, Georgia boasts the Port of Savannah, one of the largest ports in the U.S. and the largest container terminal in the country. The Port of Savannah excels in importing goods, machinery, and other cargo by water, facilitating their distribution via highway or rail to Atlanta or neighboring southern states.
- Available Land. Businesses require accessible and high-quality land for their office and facility construction. This encompasses options like renovating existing buildings or floors and developing new structures from scratch on open land. Despite Georgia’s rapid growth, ample real estate exists within and outside the Metropolitan Atlanta area for business development.
- Government Approach to Business. Businesses looking for optimal locations should seek out local and state governments that prioritize business interests. This could entail offering tax incentives, implementing state and local workforce development plans, and enacting other favorable policies. Like many southern states, Georgia is widely recognized for its business-friendly environment and policies.
- Other Factors. Selecting the ideal business site involves various factors. These include population demographics like age, income, and education levels, as well as the expertise of contractors involved in construction projects who would potentially build on or around a chosen site. Georgia boasts a robust market of qualified construction professionals. In fact, the Associated Builders and Contractors ranked Georgia as the number one state for construction in 2023.iii
In conclusion, businesses, and consultants navigating site selection must carefully weigh numerous factors, from workforce qualifications to infrastructure and government support. Georgia, renowned for its business-friendly environment and top-ranked status, remains a prime destination for companies looking to relocate or expand. With its growing talent pool, strategic locations, robust infrastructure, and ample available land, Georgia continues to stand out as an ideal choice for businesses seeking expansion or relocation opportunities in 2024 and beyond. Thompson Hine’s Site Selection practice group can assist any company in finding the perfect location in Georgia. Whether it's for a corporate office, headquarters, manufacturing facility, or retail store, their extensive experience can help you navigate the intricacies of the site selection process.
[i] https://www.areadevelopment.com/top-states-for-doing-business/q3-2023/2023-top-states-for-doing-business-meet-the-needs-of-site-selectors.shtml
[ii] https://www.georgia.org/competitive-advantages/workforce-education#:~:text=We've%20got%20a%20labor,job%20seekers%20in%20the%20U.S.
[iii] https://www.abc.org/News-Media/News-Releases/abc-georgia-is-the-no-1-state-for-construction
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