WESTBURY, N.Y.--(BUSINESS WIRE)--Area Development, the leading executive magazine covering site selection and facility planning, today announced the release of its 28th Annual Corporate Survey. The results of our survey show a modest improvement in short-range new facility and expansion plans, as well as a realignment of site selection priorities, with availability of skilled labor being the number-one concern. Of the 240 Corporate Survey respondents, 39 percent represent manufacturing firms, 19 percent are with financial services/insurance/real estate companies, and 10 percent distribution/logistics/warehousing establishments.
Availability of skilled labor is rated as either “very important” or “important” by 95.1 percent of the survey respondents, moving from third to first place. Highway accessibility maintains its second-place ranking, with a combined importance rating of 93.5 percent, and the labor costs factor went from first to third place, receiving a 90.8 percent importance rating. Two factors show a five-position jump in the rankings — state and local incentives (from 13th to 8th) and available land (from 18th to 13th). Available land actually shows the largest percentage increase in importance, increasing 21.3 percentage points and now considered “very important” or “important” by 80.3 percent of the Corporate Survey respondents.
Area Development’s Corporate Survey also reveals that the South (AL, FL, GA, LA, MS) will garner many of the planned new facilities (16 percent), closely followed by the Midwest (IL, IN, MI, OH, and WI) at 14 percent, and the Mid-Atlantic (DE, MD, NJ, NY, PA) at 13 percent. When it comes to new foreign facilities, South America will receive 20 percent of the planned new projects; Western Europe, 16 percent; and Asia just 14 percent — down from 28 percent in the year-prior survey.
A full review of this year’s Corporate Survey can be found in the Q1 2014 issue of Area Development and online at http://www.areadevelopment.com/Corporate-Consultants-Survey-Results/.
About Area Development
Founded in 1965, Area Development reaches 60,000 corporate executive readers. It is considered the leading resource for site and facility planning, providing valuable information about the factors, key issues, and criteria that affect a successful location decision. It also provides two free GIS-driven databases: FacilityLocations.com, which lists more than 5,000 economic development contacts; and FastFacility.com, which lists available industrial buildings and sites. Area Development also produces e-newsletters.
Visit http://www.areadevelopment.com to access these resources.