Chris Wally
How does the relocation process work? The process used by most companies considering relocation, is to hire a relocation consultant whose job it is to advise them about all relocations factors for desired communities. Relocation consultants are critical advocates for your community. State and local Chambers and economic development groups solicit these consultants regularly because the fact that they’ve been hired means their clients are the real prospects in the market.
How does the relocation process work? It is important to know though, that the relocation process does not begin with incentives. It begins with a thorough evaluation of the companies organization, especially staff and information technology needs, and evolves into searching for a labor force and real estate that will meet those needs. The most basic questions asked are about space needs, occupancy costs, power availability and cost, and how to support recruiting and retaining great employees.
How does the relocation process work? Companies….. want to be wanted want community stability and positive community image want consistent, collaborative government want city staffs to be responsive hate risk don’t want to be pioneers
How does the relocation process work? Companies don’t want an open discussion about their location or relocation wishes, their real estate deals or their incentive deals. They want confidentiality, not a public discussion of their private business in the media. Their fiduciary duty is to their staff and their shareholders.
Are incentives important? YES!
Is Kansas competitive? YES!
Is Kansas competitive? Positives Low taxes Low cost, abundant power Low cost real estate Midwestern work ethic Right to work state Negatives But avoid budget deficits Perception of ‘not hip’ Politics Evolution debate
Should communities build spec buildings? The easy answer is ‘yes’ – the question is build what?
Trends in Real Estate Compression of space – square feet per employee is shrinking. The greater concentration of people stresses older buildings’ systems, HVAC, electrical, restrooms, parking lots. Tenant finish costs are increasing causing leases to lengthen. LEED-qualified space is desirable, but so is ‘ABC’.
How quickly should you respond to prospect inquiries? Instantly! You only get one chance to make a first impression.
Chris Wally