Site selection, at its core, is about serving as the connector of companies and communities. The quest for the right site, in the optimal location, is no small task. Before a company embarks on the journey to identify a location for new capacity, they first analyze current utilization, future needs, and opportunities for optimization of existing resources. Once the need for additional capacity is determined, the location search begins. Site selection requires a structured process and rigorous analysis – which includes a combination of desktop examination, virtual visits, field visits, and financial analysis. After a location is selected, significant work remains in order to get the facility permitted, constructed, and operational according to schedule.
The development process is a comprehensive undertaking that is not performed in a vacuum. Instead, a variety of partners across multiple disciplines, in both the public and private sector, are called upon to contribute their expertise. Through this collaboration of professionals, a thorough and complete understanding of project options can be reached. This teamwork is critical to identifying the optimal location – understanding and minimizing risks, as well as maximizing return on investment – and to successful completion of the construction project.
In an effort to provide our clients and partners an “inside look” at elements of a successful location strategy, Quest Site Solutions (Quest) is launching a series called Insights.
Every few weeks, Quest will be publishing content about a different facet of the development process – including feasibility analysis, financing, site selection, permitting, and construction. The Insights series will feature perspectives from both the Quest team and our valued partners. Each installment in the series will be published on our social media channels and will also be available on our website.
Our hope is that you, our clients and partners, will engage with us in this series. The topics that we are planning to cover in the initial installments of Insights include construction cost variances, financing structures, and cost segregation. Let us know the specific topics you would like to learn more about. We want to hear from you.