Strategy Driven Location Decisions

Connecticut has long occupied a distinctive position in the U.S. economy — small in geography, but large in talent, innovation, and economic diversity. From its highly educated workforce and concentration of advanced industries to its strategic access to major markets, the state offers a unique environment for companies seeking long-term, sustainable growth. Yet too often, businesses selecting new sites or expanding operations begin their search with a narrow question: Where is the cheapest place to operate? Although cost is undeniably a factor in any business decision, it should not be the primary driver, especially now, when technology and automation drive business success. In fact, choosing a location based solely on cost can undermine a company’s ability to grow, attract talent, innovate, and remain competitive over time.

A more strategic approach, and one that Connecticut exemplifies, begins with a deeper question: Which location’s assets best align with the function we need this business unit to perform? This shift in thinking encourages companies to match their operational needs with local strengths: workforce capabilities, industry clusters, transportation infrastructure, academic research, supply-chain connectivity, and overall quality of life. When businesses approach location strategy this way, they not only reduce long-term risk but also position themselves for higher productivity and stronger returns.

Click here to read the original article from Area Development.