Recently, TMC’s CEO Rich Tehrani had the opportunity in Dallas, TX to interview King White, CEO of Site Selection Group (News - Alert). Site Selection Group is an independent location advisory and economic incentives firm. They provide solutions to corporations and communities across the world.
When a company is planning to relocate and set their corporate offices or warehouses, Site Selection Group will help that company to evaluate areas worldwide based on business factors such as labor availability, labor cost, business climate, financial assistance and real estate and economic incentives so that the company can arrive at an informed decision making the move as efficiently as possible, while also cutting costs where possible.
When asked about what trends are currently viable and where they are leading, White said, “When you look at the global perspective, we’re seeing a lot of shifting back to the U.S. A lot of companies that moved their manufacturing plants offshore have come back onshore to the U.S. just because of the desirable market conditions and the need for more direct access to customers.”
For companies that are already in the U.S., we have seen rents begin to skyrocket. Regardless of how big a company is, soaring rents have made a lot of companies look to relocate. When you consider the same situation for small and medium businesses (SMBs), you can see how valuable the services that Site Selection Group can be at every level.
During the interview, Tehrani and White discussed how certain states such as California and Illinois have high state income taxes and very little in the way of tax breaks, where as Texas, along with areas of Florida and Arizona offer respectable economic incentives. White said that he is noticing a lot of companies leaving the former and relocating to the latter.
The interview covered a lot of other topics such as work ethics, foreign workers and worldwide locations. You can watch the entire interview below.