Feudal Future Podcast — How COVID is Shifting Corporate Location Strategy with Jay Garner

Charlie Stephens — Wed, 16 Sep 2020 12:23:28 -0400

On today's episode of Feudal Future hosts Joel Kotkin and Marshall Toplansky welcome Jay Garner. Jay is CEO of Garner Economics as well as the Chair of the Site Selectors Guild. This episode explores the topic of site selection and how companies are choosing sites for their expansions. The group talks about how these types of decisions have been affected by the pandemic. Jay explains to listeners that the Site Selectors Guild are peer-selected location advisors that help facilitate location decisions of companies all over the world.

Joel asks Jay how site selection has changed during the pandemic. Jay explains that there was a pivot - He says, “...what we did pre-pandemic and what companies seem to be doing differently, with respect to different industry sectors - is changing significantly.” Jay explains information found in a survey or their membership that happened in April of 2020. About 49% of corporations surveyed said they were not continuing projects at that time. In June 2020, when the membership was surveyed again, there was an increase of global activity with companies moving forward with their projects. Another survey will be done in September.

Marshall talks about how he and Joel have researched future housing trends. He describes the trend of people moving out of expensive, big cities to more affordable and smaller cities. Marshall asks if Jay has seen a trend in projects in these areas. Jay explains that these were actually trends before the pandemic! Other than the price, another reason for this is that millennials are getting to the age where they want more space. He also says that public safety is very important to people.

The group talks about how remote work is affecting large companies. Jay talks specifically about remote work and productivity, cost, and how it is affecting employees’ creativity. Teamwork and creativity could be negatively affected by remote work. Jay says that long term, he thinks we will get back to working socially (depending on the status of therapeutics and a vaccine). The group talks about the potential changes in people after the pandemic.

Jay explains that most of his comments are his opinions, not necessarily that of the Site Selectors Guild.

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Reset Your Life in Flyover Country

Jacob Langenfeld — Tue, 20 Dec 2011 16:55:39 -0500

Bert Sperling just released a new list of “The Best Places to Hit Refresh” and perhaps surprisingly many are located in the much-ignored flyover states. According to the list, five cities throughout the Midwest and Great Plains perfect for those looking to start over. Their methodologies included looking at the city’s overall population, unemployment rates, rates of singles living in the city, and the types of economies that the city can call their own—from oil in the upper Great Plains to education in the eastern Midwest.

What cities grace the list and why? In fifth place, Sioux Falls, SD, with its location in a state with some of the country’s most business-friendly laws (no corporate income tax, for example), low unemployment rate (5.5%), and a singles rate that rivals some of the larger U.S. metros (19th in the nation) allows for a perfect opportunity for those looking to start over. An economy that includes a number of banks and other financial firms and excellent health care has attracted a huge growth rate in recent years.

Next on the list is a tie between two more southwestern cities: Lawton, OK and Logan, UT. Both of these locales offer low unemployment rates (5.6% and 5.7%, respectively) and a high singles rate (15.9% and 16.4%). Lawton’s economy consists mostly of the Fort Sill U.S. military base, while Logan’s boasts Utah State University as its major economic provider.

Next up is the city of Lincoln, NE whose residents enjoy the lowest unemployment rate in the country at 4.1%. The city’s economy is composed of several financial and insurance firms, a Goodyear tire factory, and the University of Nebraska at Lincoln which helps to give the city a high rate of singles at 15.1%.

The second best city to start over is the northern city of Fargo, ND. Home to Microsoft Business Solutions, Fargo began its growth even before the explosion of the oil and gas industry in western North Dakota. The populace enjoys the nation’s third-lowest unemployment rate at 4.5%, while the presence of North Dakota State University and Minnesota State University at Moorhead contribute a high rate of singles (15.9%) as well as a young feel to the isolated city.

Finally, the best city to start over according to Sperling is the Midwestern college town of Iowa City, IA. The city boasts a very low unemployment rate (4.7%), a high singles rate (16.1%), and a well-educated workforce thanks to the presence of the University of Iowa. The city’s culture is positively affected by Chicago’s proximity and the university’s label as a Big Ten college, as well as a diverse student population. Iowa City is a flourishing Midwestern city with deep cultural roots that make for a great place to not only start over, but to live as well.

All of this comes at a perfect time after a University of Iowa journalism professor, Stephen Bloom, openly marginalized the state of Iowa’s populace as the “elderly waiting to die”. Sperling’s list helps to solidify Iowa (and the rest of the Midwest and Great Plains) as a hopeful place with opportunity as fertile as the soil itself.

Utah

Feudal Future Podcast — How COVID is Shifting Corporate Location Strategy with Jay Garner

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Reset Your Life in Flyover Country