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Principle 6: Benchmarking should be focused more on strategy-specific issues and underlying qualitative practices and less on typical quantitative, generic, statistical comparisons.
Virtually every organization we serve is interested in comparing themselves to other best-in-class companies. Several of the most commonly requested real estate benchmarks are:
Principle 7: Benchmarking should be used to achieve competitive advantage rather than to simply copy and catch up.
This is not so much a philosophical statement as it is a reinforcement of how benchmarking can best add value to real estate planning processes. Earlier, I questioned the viability of simple comparisons, like sq. ft. per person, unless you understand the core business and real estate components that comprise that statistic.
Equally dubious is advocating the universal application of benchmarks that have achieved the status of "cutting-edge" practices or "industry trends". For example, a frequent discussion at conferences and in numerous publications is a trend toward open office settings. Too often, this concept is discussed as a magical step of competitive advantage for everybody.
In reality, nothing could be further from the truth. The need for more or less office enclosure is driven by core business strategy, group workflow, individual job functions, existing real estate resources, entitlement and cultural considerations that are unique to each organization (see Figure 3). Our experience suggests, for example that:
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Related article: The Strategic Alignment Model, Part One
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“W e’re not getting what we need to out of these real estate benchmarks,” said my client, Scott Weas of SC Johnson, almost 10 years ago. What really bothered Scott was his perception that most of the benchmark information available for our planning efforts had little direct relevance to the core business and the strategies […]
Read MoreI BM and Cisco Systems call Beijing home. Now the plan for the Beijing Science and Technology Park Construction Company Ltd. is to recruit even more big names from the West to establish operations around China’s capital city. The lure? Brand new, high-tech corporate campuses that are virtual “Science Cities” — […]
A January foreign direct investment update from the United Nations Conference on Trade and Development found that, after a decline in 2009, FDI inflows to Southeast Asia were booming again in 2010
Entrepreneurs to get a helping hand from the state under new initiative.
Why is a Mexico manufacturing presence important to automotive suppliers hoping to reach markets beyond North America and Europe?
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P fizer’s 600-employee expansion in Ann Arbor, Mich., looked deceptively simple — on paper, at least, once it was a done deal. One number fairly leaps out in the postmortem: a whopping US$84.2 million in incentives, certainly enough to vacuum-seal most major expansions. And those bountiful incentives certainly did help seal […]
Read MoreWhy Washington’s tech sector continues to thrive.
Parts and components have felt fine all along.
In late September, Gov. Andrew Cuomo announced new agreements with Intel, IBM, GLOBALFOUNDRIES, TSMC and Samsung that will result in US$4.4 billion of investments over the next five years to create the next generation of computer chip technology. The state said the investments were secured in competition with countries in Europe, Asia and the Middle East.
Tennessee gets creative in aligning workforce development and higher education.
May 2006 The Knowledge Team (cover) Meet a Member Incentives: The Devil’s in the Details Developer: Be Flexible, Global and Political A Sleeper Project Request Information
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T here’s a reason why Toyota, Nissan, Honda, Mercedes-Benz, BMW, Ford and General Motors all call the Southeastern U.S. home for some of the country’s largest automotive assembly plants. It’s because the South knows how to get the blockbuster economic development deals done. Last year, the South accounted for three of […]
Read MoreMore than half of the world’s known reserves of lithium are located in three countries. Argentina, Bolivia and Chile have the potential of living a modern-day manufacturing miracle if they take the right steps and harness their lithium potential.
The relocation of 1,600 high-salaried jobs from Manhattan to Jersey City may change perceptions of the New Jersey business climate.
Kentucky’s leaders urge those in need of a job to take advantage of the state’s already robust workforce development programs.
A conversation with Council of the Great Lakes Region President and CEO Mark Fisher.
Tractus Asia’s John Evans breaks down China’s current economics and their influence on location choice.
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I n an era of dwindling resources and a slumping economy, development officials are searching for new ways to attract industry and business. Many cities are offering incentives for such traditional industries such as heavy manufacturing and logistics. Economic development groups are looking to attract tried-and-true businesses with workforce development programs and site incentives. There […]
Read MoreTalent and incentives helped seal the biggest project in North Carolina history.
Metro Denver and Northern Colorado economic diversity positions the region well against economic downturns and unknowns.
Roaring back from a near-death experience, newly profitable Euro Disney is now expanding, creating Val d?Europe, a strikingly different new town. ?We?ve moved from restructuring to reconquest,? says Bourguignon. After years of being looked at like some sort of animal, it is very good to feel normal.? The Park Opens, Critics Swarm Euro Disney?s rocky […]
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W hy did Pfizer invest $600 million into a facility expansion in Ann Arbor, Mich.? Why did Citicorp Credit Service decide to add 2,100 jobs to its work force in Florence, Ky.? And why did Ford Motor Co. announce that it will invest $375 million into an expanded manufacturing plant in Norfolk, Va.? […]
Read MoreNORTH AMERICAN REPORTS From Site Selection magazine, July 2007 Sample the Soil Same Day, Next State Over Compass Points to Magnetic South The scale of ThyssenKrupp’s steel project gives new meaning to ‘teamwork’ by ADAM BRUNS adam.bruns bounce@conway.com Central to solving the logistics challenges faced by the Alabama site was the pledge by […]
Talk to enough corporate real estate and facility executives around the world and you'll be astonished at how often big projects and decisions hinge on the unglamorous subject of parking.
Far from just a public health crisis, the COVID-19 pandemic has also been a unique economic crisis.
Since 2008, Texas has led the nation with a total of 6,415 corporate real estate projects that meet the criteria for inclusion in the Conway Projects Database.
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Site Selection recognizes 12 more economic development agencies for their successful efforts to attract business expansion activity. The groups mentioned here scored well in the same areas the Top Groups did — capital investment and new jobs created overall and on a per capital basis. Arkansas Dept. of Economic Development, Little Rock, Ark.www.1-800-ARKANSAS.com […]
Read MoreBreaking the rules may not win many friends, but it sure has a way of influencing people — especially when it comes to the world of economic development.
SEPTEMBER 2009 The Garage Sale (cover) Meet A Member People & Projects Request Information IAMC INSIDER The Garage Sale We had our annual garage sale a few weeks ago. My wife lives for this event and, I must admit, I do enjoy the “business” and the “psychology” of the day. But man, it is a ton […]
Projects in Indiana and elsewhere aim to find new ways to store energy from renewable power generation plants.
A region known for its semiconductor fabrication leadership could reap the rewards if federal incentives come to pass.
Features
From Site Selection magazine, March 2002 IDRC ABSTRACTS Following are abstracts of major presentations of the International Development Research Council, which this year is merging with NACORE to form CoreNet Global — the world’s pre-eminent corporate real estate association. “Corporate Energy Strategies: Corporate Real Estate and Economic Development Perspectives,” Texas World Congress, Oct. 22, 2001: […]
Read MoreArkansas is home to nearly 470 global employers that support more than 34,104 jobs.
An electric corridor project in January was selected to receive $63.8 million for the buildout.
Brazil-based electric engineering, power and automation technology company WEG S.A. announced it would be investing $244.7 million to expand three of the company’s locations in Brazil, Mexico and Colombia over the next three years.
The newest multinational among many to find the Aegean Free Trade Zone in Izmir, Turkey, is Cummins Inc.
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E ven a cursory look at the best-performing states in the Governor’s Cup competition — our annual ranking of states based on their business-expansion success — reveals a new competitive landscape. Relatively sparsely populated states, such as South Dakota and Mississippi, are finalists in the overall ranking, for instance. And the perennial favorites in the […]
Read MoreAs Site Selection with this issue celebrates 70 years in business, it’s only natural to notice companies celebrating their own major milestones with major investments.
Georgia sets a record for the most consecutive top state business climate wins. Governor Brian Kemp, in his first year as state chief executive, weighs in.
Gov. Fallin’s policies create the sixth-lowest tax burden in the nation; investors take notice.
A guaranteed pool of highly skilled workers, years ahead of their peers.
D espite the prolonged shakeout among occupants of commercial real estate Internet “space,” not all Web services catering to the industry are floundering. Indeed, observers of the market at its height all predicted the shakeout, and the economic slowdown has underscored its impact. It’s not that there isn’t a role for the Internet in the […]
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T he International Development Research Council’s Annual Survey of Corporate Real Estate Practices is a one-of-a-kind resource for tracking corporate real estate and facility management trends. Since first conducted in 1993, the survey has provided insights into how these corporate functions and their service providers operate. Here’s a survey nugget for […]
Read MoreHow can a borderzone best employ its bi-national economic character for the good of both territories? Experiments now under way seek the answers.
Global project numbers rose in every leading sector throughout 2023.
Female entrepreneurship is making solid gains across the country, with a notable surge in women-led startups taking place in the Midwest.
Ten months from groundbreaking to financing completion: In the best of times, one might look askance at such a delay. In today’s economy it counts as a solid success.
PLEASE VISIT OUR SPONSOR ? CLICK ABOVE JANUARY 1999 Is a Corporate Campus Right for Your Business? by DAVID T. HARESIGN The decision to plan and build a corporate campus consists of dozens of often conflicting considerations, both tangible and intangible. If the corporate real estate executive wears many hats, here’s where he wears them […]
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R ising employment, industrial inventories and prices will make the American economy’s recovery this year even stronger than most blue-chip economists forecast, Prudential Financial’s chief economist told a gathering of corporate and commercial real estate leaders Jan. 10 in Atlanta. Susan Hickok, the keynote speaker at a forum of CoreNet Global […]
Read MoreBy most accounts, China in this the “Year of the Tiger” has eclipsed Japan to become the world’s second largest economy.
Oxford Economics forecast models show that global metros with high concentrations of advanced manufacturing tend to be the leaders in metro growth when ranked by GDP output.
Fresh incentives create fertile economic development soil in New Jersey.
Reform of U.S. immigration policy is on the tips of so many tongues of all political stripes that it seems a foregone conclusion decisive action will take place soon.
Apple Inc. announced the opening of a new plant in Mesa, Ariz., that will create 700 jobs, as well as 1,300 construction jobs, for a region hard hit during the recession.
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T ransnational corporations (TNCs) will favor Germany, the United Kingdom and France when they invest in Western Europe during the next three years. This prediction is among the findings of a recent survey of 129 TNCs conducted by the United Nations Conference on Trade and Development (UNCTAD), the Invest in France Agency and Andersen, the […]
Read MoreThe following is excerpted with permission from Dr. George Hammond's March 2013 report in Arizona's Economy, a publication of the Economic and Business Research Center (EBR) at the Eller College of Management, University of Arizona. Dr. Hammond is Associate Director of EBR and Eller Research Professor.
Site selectors offer their thoughts to companies and states navigating the dicey waters of economic development and social legislation.
By claiming first place in Site Selection’s annual ranking of state competitiveness, Virginia proved that second place merely means there’s room for improvement. The Commonwealth lost no ground and gained what little there was to gain from its runner-up finish in 2010 with a best-in-class finish for economic development success in 2011.
Highlights from Site Selection ? October/November 1997 C O V E R S T O R Y Hong Kong: Business Still Dances Inside the Dragon’s Jaws by Jack Lyne Forget the hype and hysteria. Hong Kong’s turnover hasn’t dulled its legendary business buzz. Hong Kong is awash with conviction a month after becoming a […]
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M anaging risk has always been the cornerstone of the corporate relocation process, although rarely has a corporate executive or his economic development counterpart framed the decision-making process in quite those terms. In the post September 11th environment, however, risk management has moved beyond its traditional spheres of technological and financial risk assessment and now […]
Read MoreIn major urban areas, nearly 80 percent of energy is consumed by buildings. Tenant spaces account for over half of a commercial office building’s total energy use, and building owners are starting to pay attention.
In Texas, finishing in first place is not just an annual occurrence. When it comes to measurable economic development performance, it’s a way of life.
Tennessee’s signature industry sees substantial investments over the last year, with an emphasis on electric vehicles.
Missouri slashes business tax rates to improve its competitive position.
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Service Providers on the Move…. USAA Realty Co., San Antonio, has named David L. Reahl to head its north-central region and the Chicago office. Reahl previously was vice president and asset manager at LaSalle Investment Management, Chicago, where he was responsible for overall performance of property portfolios of $400 million in assets. Insignia/ESG has hired […]
Read MoreHow Ohio followed a fundamental plan to build a true macropolitan economy.
Flexibility. What?s it worth to your firm? Try US$5 billion. That?s what General Motors? (GM) originally wanted from Volkswagen (VW), alleging that Jose Ignacio Lopez stole file cabinets full of flexible designs before joining VW. The GM-VW brouhaha marks the most manifest sign of flexibility?s very high market value. ?There is no alternative for becoming […]
This fall, Wyoming Gov. Matt Mead presided over the opening of the $70-million National Center for Atmospheric Research west of Cheyenne, while also formulating a new energy strategy. The state’s more than 42 billion tons of recoverable coal reserves continue to play a major part in energy strategy and in the atmosphere, not to mention the state’s high-ranking business climate and fiscal soundness.
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T he heat created by the North American push into Europe for new call centers has turned desirable locations into no-go areas for some U.S. corporates. But while some locations have become victims of their own success, others are emerging as new winners in the current cooler environment for new call center operations — especially […]
Read MoreIn Tipton, Abound Solar will occupy a never-used facility built by automotive concern Getrag, and employ up to 850 in the manufacture of solar panels.
A conversation with Amazon Head of Worldwide Economic Development Holly Sullivan.
W hen Japanese automaker Toyota needed to increase its share of the European marketplace in the late 1990s, it went in search of the automaker’s Holy Grail — the perfect site for a new manufacturing plant. After heated competition, the Nord-Pas de Calais region in Northern France offered the most tempting of sites. […]
How the Oklahoma business climate attracts industry and improves incomes.
Features
C orporate real estate managers with outsourcing contracts coming up for renewal have a unique opportunity, which is to hear how the provider of the service defines what has come to be known as “second-generation outsourcing.” If that provider cannot articulate how the next chapter in a service provider agreement will be better than the […]
Read MoreIt’s no accident that Minnesotans regularly produce life-changing inventions.
Read exclusive insights from Taiwan Semiconductor about their $12 billion investment; Greater Phoenix Economic Council Preside
Our cover story takes the smart city discussion in a new, different direction. Editor in Chief Mark Arend shares his own different take on what’s smart.
What do a major international automotive manufacturer and one of the world’s top-selling furniture companies have in common?
Features
I n the January issue of Site Selection, I introduced the Strategy Alignment Model, which is a framework for directly aligning corporate real estate with the core business. As shown in Figure 1, the model is comprised of three components and seven guiding principles. The focus of the first installment was […]
Read MoreThe Caribbean region is strengthening its ties to markets around the world, most recently with Singapore and Norway.
The Greater Philadelphia Innovation Cluster recently won $129.7 million in funding from federal sources to create a Regional Energy Innovation Cluster (E-RIC).
Long-Term View Sustains Global Location Activity b y M A R K A R E N D European markets saw robust business expansion activity in ’98, but even emerging markets did well as location experts looked beyond their current status. Wherever new-site locators looked in 1998, the story was pretty much the same: […]
In Portland, Ore., there’s a burgeoning sub-cluster of footwear companies, now more than two dozen strong. Part of a larger and ever expanding cluster of athletic and outdoor (A&O) companies, this growth has turned the region into the North American go-to industry hub.
Dallas snares a major win months after launching a campaign to attract more biotech companies.
Features
L ook closely — there’s a new luster on Site Selection‘s Governor’s Cup this year, a gloss that began taking shape last fall, when a new set of competition criteria came into being. After all, the successful systems in place in the business world are those that are maintained and refined as necessary to ensure […]
Read MoreRivian will build electric pickup trucks on a rural 2,000-acre site east of Atlanta.
It was 22 in ’22. That’s $22 billion in capital invested in Indiana in 2022.
Vermont surges as an outlier in Lightcast analysis.
Teleperformance is one of many BPO firms growing in Jamaica, where a major bakery investment is also rising. Plus a major silicone and sealant manufacturer chooses to grow its home base in Puerto Rico.
States and localities line up to lure data centers, and in doing so, are exploding some myths about what companies can demand.
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From Site Selection magazine, March 2002 TOP METROS The 2001 Governor’s Cup • and the winner is … • New Corporate Facilities and Expansions • 2001’s Biggest U.S. Corporate Facilities • Top Metros • Top Industries • Global Location Activity Chicago Breezes By Competition for Top Metro Spot By GINNY […]
Read MoreA new report from Gallup finds a new part of the world has displaced the United States and Canada as the region with the most engaged employees in the world — but there are caveats.
On May 29, 2011, a little shudder shot through the roots of economic development and corporate real estate. That was the day that H. McKinley “Mac” Conway passed away at his home in Shiloh, Fla. The founder and chairman of Conway Data Inc. and founder and publisher of Site Selection was 90 years old; and […]
M A N A G E M E N T S T R A T E G Y Tomorrow’s corporate real estate world will scarcely resemble yesterday’s or today’s, the pundits are fond of pointing out. The professionals in the industry know that. The key is getting the rest of the organization to see […]
In 1983 when our founder Mac Conway launched SiteNet, he had already helmed the magazine and Conway Data for 29 years and published tens of thousands of pages of reports and directories. I can see them on our office shelves, bound in books. I was 19 years old then, a sophomore in college and bound […]
In addition to TrustBelt’s high-quality programming content and unparalleled networking opportunities, this year’s Forum will give attendees the opportunity to experience some of the most unique and memorable venues in Louisville.
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From Site Selection magazine, March 2002 TOP INDUSTRIES The 2001 Governor’s Cup • and the winner is … • New Corporate Facilities and Expansions • 2001’s Biggest U.S. Corporate Facilities • Top Metros • Top Industries • Global Location Activity The Auto Industry Leads All Sectors by RON STARNER T […]
Read MoreNORTH AMERICAN REPORTS From Site Selection magazine, July 2008 Idaho Falls for Areva by ADAM BRUNS adam.bruns bounce@conway.com F ifty years ago next year, in a small town just west of Idaho Falls, Idaho, the first light bulb to be powered purely by nuclear energy was illuminated. The municipality of Atomic City was born. […]
California’s higher education institutions transform new ideas into new jobs, nurturing prosperity in the state’s best-performing cities.
OKLAHOMA: How Oklahoma Stocks Its Aviation Talent Pond
Arkansas offers a potent mixture of talent and resources.
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From Site Selection magazine, March 2002 GLOBAL LOCATION ACTIVITY The 2001 Governor’s Cup • and the winner is … • New Corporate Facilities and Expansions • 2001’s Biggest U.S. Corporate Facilities • Top Metros • Top Industries • Global Location Activity Canada, Far East Lead Top Global Projects in 2001 […]
Read MoreA new report uses rig data to link fracking and other 'advances' to OPEC's rigging of the marketplace.
More analysis, cloud computing and smarter buildings are among industry trends. Mobility of corporate real estate technology is a top priority these days as software developers rush to meet demand. Industry observers say there is still reluctance by corporate IT types to embrace the technology, but it will be widely deployed within a few years.
After acquiring the Lokomotion technology center in the Lahdesjärvi neighborhood of Tampere, Finland, in 2021, Metso now plans to move all operations from Hatanpää to this site moving forward.
By welcoming new technologies, Arizona creates a successful environment to launch, scale and test new ideas.
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L ocation searches frequently focus on the larger metropolitan areas, and for good reason. Data sources are more readily available for these locations, and they represent the largest labor markets, airports, developed properties and other resources. However, there is a whole other layer of locations the small towns — that represent communities with populations of […]
Read MoreAdd the importance of the Mexican market itself to companies' lists of reasons to open operations in Mexico.
Two of Europe’s most significant IT capital investment projects just landed in the same region — the federal German state of Saxony-Anhalt.
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W hen the Intel Corp. started searching two years ago for a place to build a new wafer fabrication plant for manufacturing semiconductor chips, the world’s largest chip-maker found exactly what it needed in Chandler, Ariz. When WorldCom needed to expand its international telecommunications empire in December 2001, it announced a […]
Read MoreMississippi’s strong healthcare industry draws national leaders to locate in Southaven.
A new project from the Aspen Institute and Columbia University’s Community College Research Center aims to align credentials with better earnings.
Regular assessments improve programs’ performance.
Features
D uring the closing months of 2001, activity in the real estate sale-leaseback market surged as more and more corporations sought to raise cash in a declining economic environment. W. P. Carey & Co., LLC, completed US$185 million worth of transactions in the fourth quarter of 2001, nearly half of the […]
Read MoreBoth St. Louis and Blytheville have landmark arches and big-time projects.
Hamilton is CEO of Renmatix, a young and growing producer of cellulosic sugars for the global renewable chemical and fuels markets. Working with building owner Brandywine Realty Trust, architect Pier Derrickson of KlingStubbins and contractor Hollister Construction Services, the Renmatix team just saw the completion of the headquarters fit-out.
Governor John Kasich reminds state lawmakers why economic growth trajectories are still on the ascent.
The data show why Invest in Bogota has won a Site Selection Best to Invest Top IPA award for four years running.
Features
O ver the past decade, build-to-suit (BTS) commercial real estate has proven to companies that expansion or relocation requirements can be better filled by going beyond finding available market vacancies. Whether the company’s main consideration is to have its name on a cornerstone or to move into a commercial or office facility that’s individually tailored […]
Read MoreComfort Zone: A peek inside a Philadelphia public health nonprofit’s shift in culture, location and workspace design offers a glimpse into its employees’ and its city’s future.
Workforce skills and workforce development are site selectors’ first and third most important location criteria, according to the results of a survey we conducted this fall (transportation infrastructure is second).
The right foundation for new capital investment includes a workforce with the skills in demand by industry and making state government as non-intrusive as possible, says Governor Nathan Deal.
A ‘lighthouse’ project from Bayer CropScience shows the way for a company and a region.
New data from the U.S. Bureau of Labor Statistics reveals trends in total compensation (wages, salaries and
