Tips for Navigating Incentives in Site Selection Process
Friday, January 31, 2020
A thorough understanding of the components of each incentive program is key to a mutually successful incentive offer and ultimately a community partnership.
More Collaboration Expected
Compared to 10 years ago, there have some notable changes to today’s site selection process. I think one of the more important changes is the incentive package. The kinds of incentives offered a company 10 or 15 years ago, or maybe even five years ago, are going to be very different than what they're going to receive right now.
Unemployment's really, really low right now, so communities aren’t as concerneddon't care right now about the number of jobs. It's about the quality of the jobs and how they're going to impact their community. Even the approach taken working with the communities has changed. Things are a little bit more collaborative; there's more of a partnering spirit than what we saw, say, 10 years ago.