5 Predictions That May Reshape Site Selection & Economic Development Strategies in the Next Decade
11 Jan 2021
As we roll into the next decade, it is evident that exponential growth in technology and economic conditions will be key drivers in the changes over the next decade that will impact workforce, real estate and logistics, among other things. These changes will have a dramatic impact on site selection and economic development strategies as we try to adapt to the new global economy. To help prepare for some of these changes, we have identified the following five key predictions that may change site selection and economic development in the very near future.
1. Logistics reimagined
From autonomous electric trucks to drone delivery, the logistics industry has major changes ahead over the next decade. The whole supply chain model is going to look a lot different which will have an impact on site selection and economic development strategies. The following summarizes some of the possible impacts:
- Unskilled talent will decrease in importance – Automation within distribution centers will ease the pressure of attracting and retaining low-skilled talent. It will also allow distribution centers to locate in higher-cost labor markets, closer to consumers and locations with a less desirable business climates due to taxes, minimum wages, etc.