How do site selection decision makers evaluate labor in different markets?
Companies and site selection firms closely examine several factors in order to understand the quality of labor in a geographic location. These include: Cost of labor; Educational achievement levels of residents in the area; Types and amounts of two and four-year degrees awarded from higher educational institutions in the area; Labor turnover rate in a region for an industry sector; and Types of industries and skill sets already existing in an area. How should communities and states best position themselves to address the issue of labor in their geographic area for long-term success? First, it is important to understand what type of labor exists in an area. By understanding the quality and skill sets of an areas labor force, a community or state can recognize how to leverage its strengths and address its weaknesses. Second, a geographic area needs to be able to present high quality and credible labor information to site selection decision makers. In 20 years, I have rarely had a communi
