We have experienced first-hand the importance of ready to go real estate opportunities in our recent site selection and economic development work in Ohio, Iowa, New Mexico, and here in Arizona. Good “shovel ready” or “certified” sites simply lead to better and faster economic development results.
A number of states and regions around the country have already developed shovel ready or certified sites programs. Although called by different names, all generally offer similar objectives, including:
• To create development standards that will provide well-planned industrial sites/parks that will attract new investment and jobs
• To create development standards that will provide a variety of industrial products (i.e. mega sites, heavy/light industrial sites, R&D sites/parks)
• To provide funding to help operate the programs and design/develop new certified industrial sites/parks.
We have observed both pros and cons of a number of shovel ready programs and have come to the conclusion that there are a number of factors important for a successful program, including:
• Good regional economic development cooperation and participation
• Focused target industries and a good understanding of their site/building needs
• Site selection standards and criteria covering all development aspects
• The right number of diverse sites and a way to replenish the pools of sites as they sell
• A well financed program with an active infrastructure fund to spur development
• Well-planned/defined schedules, timelines, and deadlines
• Professional methods designed to expedite the development process (i.e. permitting); getting projects to market on or ahead of schedule is one of the top site selection priorities of companies today
• Use of a “third-party site selection consultant” to help select and review sites. This will create more success in terms of new location/expansions and in “maintaining an objective location process with minimal political intrusion.”
• Sustainable or “green” practices.
Now that you’re “shovel ready,” enjoy the fruits of all your new locations/expansions! Regards, Deane