WESTBURY, N.Y.--(BUSINESS WIRE)--Area Development, the leading executive magazine covering site selection and facility planning, has just released its 31st Annual Corporate Survey. Of the 136 Corporate Survey respondents, 37 percent represent manufacturing firms, 8 percent distribution/logistics or warehousing operations, and 9 percent are in the construction and trades industries. More than two thirds of the survey respondents feel confident about the economy under President Trump, but are still concerned about finding the skilled workers they need to grow their businesses.
Highway accessibility, which ranks first among the location factors, is rated as either “very important” or “important” by 94.4 percent of the Corporate Survey respondents. Availability of skilled labor ranks second, with an 89.8 percent importance rating, followed in third place by labor costs, with an 89.6 percent importance rating. As wages escalate, this factor shows the largest year-over-year jump in the ratings (8.8 percentage points).
Area Development’s Corporate Survey also reveals that the Southwest will garner the largest share — 18 percent — of the corporate respondents’ planned new domestic facilities, followed by the South Atlantic region with 17 percent. When it comes to new foreign facilities, Mexico and Asia will each receive 27 percent of the respondents’ planned new foreign establishments. Interestingly, just 13 percent of the respondents say potential penalties for moving operations offshore will have an effect on plans for new foreign facilities, while 31 percent say penalties won’t have an effect, and 57 percent did not respond to the question. The majority of the survey respondents (85 percent) are also unsure of whether there will be financial inducements under the Trump administration to reshore operations and did not respond to that question; just 13 percent think there will be.
A full review of this year’s Corporate Survey can be found in the Q1/2017 issue of Area Development and online at areadevelopment.com/survey.
About Area Development
Founded in 1965, Area Development reaches 45,000 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.