US manufacturing resurgence: How site selectors can unlock the potential of US locations

Nicole Bennett and Ben Harris
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Nicole Bennett: Cushman & Wakefield, USA
Ben Harris: Senior Managing Director, USA

Corporate Real Estate Journal, 2024, vol. 14, issue 2, 169-179

Abstract: Over the past three years, disruptions to supply chains worldwide have been the norm, bringing the impacts of globalisation and the importance of well-functioning supply chains into sharper focus. As a result, businesses are proactively exploring new ways to diversify their supply chains, and in the US, a major component of diversification is manufacturing. In this paper, we explore the current trends of manufacturing real estate, including how companies are pursuing a data-driven selection process to identify the optimal site to locate, illustrated by a compelling case study. The US manufacturing market is resurgent, and many occupiers are evaluating the opportunity to establish or relocate their production facilities. They are navigating an ongoing challenge of labour shortages, high power demands of manufacturing and low vacancies in the sector overall. This paper presents a case study, Project Apex, to demonstrate how site selectors navigate this landscape with their clients. This step-by-step analysis reveals how 126 locations on the longlist were narrowed down to 16 locations for site visits and, ultimately, three finalists for the manufacturing client to review. The paper outlines best practices for site selectors during every phase of the project while considering the challenges and current landscape.

Keywords: manufacturing; logistics; reshoring; onshoring; site selection; supply chain (search for similar items in EconPapers)
JEL-codes: R3 (search for similar items in EconPapers)
Date: 2024
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Persistent link: https://EconPapers.repec.org/RePEc:aza:crej00:y:2024:v:14:i:2:p:169-179

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