Buy + Build + Lease

Site selection isn’t just the real estate in the right location.  Companies need to validate labor availability – not just take for granted what they’re told.  It also includes verifying the right tax climate and regulatory environment exist as well as the impact of securing financial incentive programs.  All of these are competencies of The Brookshire Company.

Justin Erickson, The Brookshire Company, Economic Development & Site Selection Specialist, emphasizes that real estate and location considerations must be explored in parallel with labor and incentive considerations, and The Brookshire Company offers a seamless approach to our clients to make sure all aspects are addressed.

1

Buy, build or lease?

  • Is this location a fit logistically? Too often, that’s where the conversation stops.

2

Our clients know it entails far more:

  • Are we going to have the right quantity and quality of labor?
  • What compensation and benefits package do we need to offer to be competitive?
  • Are we competitive or complementary to existing local and regional employers?

3

Then there are Financial Incentives — Local, regional, state and federal:

  • What are the programs and how do we know if we qualify, what steps are taken to procure incentives and what is the benefit to our business?

Scope of Project: First, we establish a project code name to ensure confidentiality until the appropriate time to disclose the company name. Second, we identify a) the real estate needs of the company – projected size of building, buy vs lease and, if known, estimated purchase/lease price.

State Engagement: Once an initial list of suitable locations is identified, we will engage with state-level Economic Development (ED) agencies – all done confidentially, without using the company name. Preliminary proposals will be solicited to identify local-to-state financial incentive programs.

Municipal Engagement: Upon soliciting initial state-level proposals – and once suitable real estate options are narrowed – we engage with municipal ED organizations. We have local Economic Development include all local financial incentive programs, which then get married to state-level incentives previously provided.

Labor Analysis: While real estate may lead the decision-making process, labor analysis needs to be of equal importance. Too often companies and consultants rely on publicly available labor shed surveys and documents.

Application: Once a lead site is identified based on suitable real estate plus confidence on labor availability, we formally apply for local and state incentive programs. It typically requires 60 – 90 days to secure all incentive awards, and we must complete this work prior to final commitment/announcement.

Media: We work with city and state leaders to time a formal press release and press conference – if desired by the client – to coincide with the timing of the real estate transaction closing and incentive award announcements. It is not required, but it is free publicity to the company.

Note: It is important to note that while every step in the 6-Step sequence is equally important, Steps 2-4 may be conducted simultaneously or in varied order.

Meet Justin Erickson, Economic Development and Labor Specialist
For over 15 years Justin has been instrumental in helping a variety of companies find the right state and the perfect city for their expansion or relocation needs.

Partnership + Excellence

I recently contracted the services of Justin Erickson and have been extremely pleased with the work he has conducted on our behalf. Justin’s knowledge, expertise and experience with site assessment and government economic development incentive processes has allowed Justin to quickly and successfully partner with our site selection team to provide insights and information critical to our process. Justin has been professional, proactive, and readily available to the team. I highly recommend Justin and would be glad to provide a personal reference for his organization and services.

Skip Barrick

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