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A few weeks back my travels took me to Detroit for the Site Selector’s Guild Fall Forum – my seventh Fall Forum – and each time I grab a few takeaways that reassure me Buffalo Niagara is an ideal location for growing companies to consider expanding:
Development Ready Sites
The need for development ready sites is extremely valuable to the site selection process. Consultants reported that project schedules are being delayed or cancelled due to the lack of industrial sites, specifically those with completed due diligence and site data integrity. Invest Buffalo Niagara’s WNY Industrial Real Estate Development Strategy Committee has been working on these issues for over three years with an emphasis on closing data gaps within priority properties, identifying the “next generation” of development sites in our region, partnering with the FASY NY Shovel Ready grant program, and implementing best practices and process improvements measures as it pertains to site readiness efforts (and many other site selection drivers).
“No People, No Project”
The old adage in economic development was “No Product, No Project” but more and more workforce requirements are more influential in the site selection process as companies engage in multi-criteria decision analysis. The lack of skilled talent, training opportunities, and workforce development support can often be a fatal flaw in the site selection process. Economic developers must continue to be creative and innovative problem solvers when it comes to talent recruitment and retention. Invest Buffalo Niagara’s Be in Buffalo initiative is driving this effort in Western New York through partnerships with our local colleges and universities, workforce development partners, and Bills Backers bars across the country.
Value of Community Readiness
A theme growing in importance among site selectors is the prioritization of community readiness and support for economic development projects. Alignment among leadership and stakeholders on what types of projects a community seeks to attract with specific marketing and outreach tactics can help communities compete. Bold and aggressive leadership is needed – as evidenced by Niagara County and the Town of Niagara successfully recruiting Amazon to build a 3.2 million sq. ft. Robotics Fulfillment Center at the Niagara Airport Shovel Ready Commerce Park.
Building meaningful relationships within the site selection community is vital for Invest Buffalo Niagara’s business attraction efforts. These highly regarded professionals guide companies on important site location decision making factors such as operating cost impacts and optimization, commercial real estate, incentives, and supply chain management, among many others.
Invest Buffalo Niagara’s key resource is our Buffalo Niagara Economic guide, a comprehensive data source for the most significant information on our regional economy. The guide contains quantitative and qualitative data considerations of demographics, workforce, education, real estate, target industry, transportation, incentives, and many other inputs pertinent to the site selection process.
View our Economic Guide. See why companies are choosing Buffalo Niagara.