Making the decision to sell, buy, or lease real estate is daunting enough when considering a change of location for your home. But thinking about relocating your business probably fills you with dread. Workforce is a top reason for relocation, but other reasons include reaching a new market, upgrading facilities or equipment, decreasing costs or increasing revenue, and others.
So how do you ensure that you’re making the best decision on when choosing a new spot for your business? Regardless of your company’s size , it is a wise idea to consult a Location Advisor before making any decisions about migrating your business.
Location Advisors track your location-based expenses and benefits in order to help you understand your options among specific locations, municipalities, and states and determine the optimal location for your workforce and customers. Teaming up with an advisor is an advantage to your business in more ways than one. You not only receive advice on where you should relocate in order to maximize potential economic gain, but also receive guidance in how to relocate in order to receive economic incentives from local and state governments.
Economic incentives are monetary gains can take the form of tax-credits or grants, and are awarded to companies by the government in order to encourage economic growth. In September 2019, the Resource Incentives and Location Advisors Team secured $2,110,000 in incentives for a global company that was looking for an expansion site as well as a larger talent pool.
Taking advantage of the resources and advice offered by Location Advisors allows your business relocation to flourish. As you enter 2020, consider how you can best leverage your company’s successes in 2019 to maximize business growth for the upcoming decade!