Breaking Down Site Selection’s 2020 Metro Rankings
The release of Site Selection Magazine’s 2020 U.S. Metro Area Rankings for economic development in 2020 reveals what many already know. The Midwest is on fire as a logistics hub, the Southeast remains strong for both manufacturing and distribution, and Texas is winning on all fronts.
Here are noteworthy highlights from the list:
- Chicago led the way overall, followed by Dallas, Houston, Atlanta, and Indianapolis.
- In a surprise, Indianapolis edged out Austin, Dallas, Atlanta, and Dallas for most projects per capita among Tier 1 cities.
- Among Tier 2 Cities, Savannah (Georgia) led the way with Elkhart-Goshen (Indiana) a distant second.
- Overall, the Southeast and Midwest led the way, with Indiana, Ohio, Illinois, Kentucky, Georgia, North Carolina, South Carolina, and Texas all experiencing strong showings.
We expect economic development activity, specifically industrial and logistics, to remain strong through 2021. States and municipalities continuing to aggressively support development will win valuable projects for their communities, boosting jobs, wages and standard of living.
As each location offers unique advantages and challenges for projects, it is imperative that businesses considering expansions and new locations partner with qualified site selectors like McGuire Sponsel. Our firm has offices and teams covering some of the country’s hottest markets and can guide clients in making educated location decisions while maximizing state and local credits and incentives impact on operational performance and profitability. At McGuire Sponsel, our experienced tax and incentive teams partner with leading real estate groups across the country to provide best in class service to clients ranging from closely held businesses, to private equity held portfolios to public companies.
McGuire Sponsel’s Credits and Incentives Practice is a leading national advisory headquartered in Indianapolis, IN. With additional offices in Louisville, KY; Atlanta, GA; and Raleigh, NC along with a network of partners across the country, McGuire Sponsel can help lead a successful site selection process across the United States.
Our Location Advisory team helps growing businesses across the country throughout the site selection process.
We bring insight and value through site identification, comparative analysis, demographic and labor force analyses, tax and non-tax cost comparisons, and economic incentives negotiation and procurement.