Has your community acquired a prime piece of real estate intended for new development? Or do you have a developer or land-owning stakeholder that is motivated to work with your planning and economic development team to attract new investment in your community? What about that parcel that has stood vacant for years while new projects have sprung up on neighboring land?
Have you considered whether the land is “shovel ready”? If you’re not sure, here are five great tips to help answer that question (summarized here):
- Do your homework – Understand the status of utilities and remaining due diligence items before an end user can move in.
- Use a master plan – Help a site selector or company leader envision what the area will look like.
- Align with your state – Particularly for attracting international investment, it’s critical to position your site within its place in the region and state.
- Use your MSA to your advantage – Use the full MSA population and workforce statistics in your site marketing, since these resources don’t start and end at your community boundaries.
- Think before you build – Showcase spec buildings and projects to demonstrate desirable development characteristics.