Looking back at all that has transpired in 2022 gives us a great picture of what 2023 & 2024 will look like for manufacturing site selection. Location criteria are unique to each individual project, but there are standard site selection drivers that typically influence most manufacturing location decisions.
- Talent availability & costs
- Shipping & receiving efficiency & costs
- Business environment
- Regulatory climate
- Real estate availability & costs
- Economic incentives
The top five states for manufacturing in 2022 likely come as no surprise:
- South Carolina
- North Carolina
What does this tell us about 2023 & beyond? Some of these strong options will remain in the top ranks for several years. Others will drop off either because of saturation or rising costs. This is always a moving target and can vary significantly depending on your industry and specific needs.