What makes a city an ideal place to do
Last week, I attended the Institute for Organization Management, where I had an opportunity to ask Site Location Expert, Vicki Horton, "How does a city attract businesses?" Vicki has worked with many fortune 500 companies, finding the best location for business relocation and expansion.
Here is what I learned from Vicki:
The process of determination starts with a list of CLFs (Critical Location Factors). This list is compared to areas across our nation that will most likely fit the clients needs. Once the most likely states are identified, a regional study is done. Finally, a Request for Proposal (RFP) is sent to the city and or EDC.
How does Escondido Measure up?
- Easy freeway access
- Proximity to Miramar and Pendleton
- 3 airports within 60 miles
- 50 miles from an international border
- 40 miles from the port of San Diego
- Redevelopment land availability
- Tax permitting incentives
- Continued Education Oportunities
What could deter a business from locating in Escondido?
- Available skilled workforce
- Housing options
- Restrictive State and City regulations
- Lack of existing infastructure
What I found most interesting is that the relocating business is not at all interested in the "Quality of Life". If a city includes this information in the RFP, it is considered "marketing" and may actually deter their final decision. The assumption is that if people are living here, then they are doing so because of personal factors that they enjoy.
Vicki's final words of advice...
"Make sure your city fixes any issues. Businesses will locate to cities that are harmonious." Vicki spoke on many levels from political stability to public safety.
Business development creates jobs and economic growth. The City of Escondido and the City Council are diligently working to identify our best opportunities for a prosperous future. Stay up to date by joining us at the Economic Development Committee meetings held the second Thursday of the month at noon at the Escondido Chamber.