The Fort Worth EDP actively participates in Site Selectors Guild (SSG) events to build relationships with site consultants, enhancing Fort Worth’s prospects for future success. SSG emphasizes trends shaping the future of site selection, including industrial growth, sufficient infrastructure, and talent availability as critical factors.
By Jessica Heer, Executive Vice President | Oct. 22, 2024
The Site Selectors Guild (SSG) is an association of professional site selection consultants who counsel corporations on location strategy across every industry and sector. Fort Worth Economic Development Partnership (Fort Worth EDP) actively participates in SSG events, which offer networking opportunities with site consultants and educational sessions covering the latest trends, challenges, and opportunities in site selection. We attended the SSG’s annual conference in April, a summer summit in June, and its fall forum in September. In addition to conferences, the SSG publishes a biennial report that surveys its membership to identify top trends in site selection.
Below is a recap of SSG conferences and key trends shaping the future of site selection from
The State of Site Selection 2024 report.
Industrial is Driving Commercial Real Estate
As the effects of the pandemic continue to diminish, the industrial sector remains a key driver of commercial real estate activity across the United States. This trend was evident at SSG conferences this year, where much of the discussion focused on industrial development-ready sites and infrastructure. According to the Guild’s State of Site Selection Report, 82% of its members strongly agree that the availability of development-ready sites with sufficient infrastructure is the leading factor influencing industrial projects in 2024.
Here in Texas, JLL’s Q3 2024 Industrial Market Report shows that the Dallas-Fort Worth industrial market led the nation in quarterly net absorption and is on track to surpass 20 million square feet of total annual absorption. This trend has been consistent throughout 2024 and is reflected in Fort Worth, where companies like Big Ass Fans, Continental Tire, Dick’s Sporting Goods, Embraer, and Google have all made significant announcements this year.
While the industrial sector remains robust, less than half of SSG members believe that the volume and scale of office projects will return to pre-pandemic levels. However, 91% agree that the location and quality of office space will significantly shape the future of office projects.
There is also a noticeable shift in CEO sentiment regarding return to office policies, which could impact the future of office projects. Companies like Amazon, Dell and Citigroup have announced plans to bring employees back to the office five days a week. A KPMG survey of 1,300 global CEOs showed that 83% expect a full return to the office within three years (up from 64% last year) with older CEOs more likely to share this expectation. Only time will reveal the impact of these shifts on future office projects.
Access and Cost of Talent are Key to Winning Projects
As we’ve seen in the Fort Worth economic development scene, access and cost of talent continue to be top considerations for site consultants and their clients. Guild members unanimously view access to talent as essential for companies looking to open or relocate offices. It also drives decisions for industrial locations, with 91% of members strongly agreeing that talent availability is a critical consideration. While 82% of Guild members believe labor costs will significantly impact the future of office projects, only 62% feel the same about their effect on industrial projects.
Why This Matters for Fort Worth Economic Development
Attending Guild conferences enhances our understanding of national and global trends, improves communication with clients, and helps us stay competitive while building relationships with site consultants involved in location decisions. Nearly all of Fort Worth EDP’s project announcements this year have come directly from these consultants or the companies themselves—so we know that maintaining these relationships is a winning strategy for the Fort Worth EDP.
The Guild emphasizes that labor availability and costs, quality of office space, and development-ready sites with sufficient infrastructure are essential for clients considering expansion or relocation. With more than 1.6 million workers within a 45-minute commute of downtown Fort Worth and significant new developments announced or underway—including Crescent Real Estate LLC’s second-Class AA office building, the anticipated Van Zandt and One University mixed-use office buildings in the Cultural District, and Hillwood’s 1.1 million-square-foot speculative industrial building—along with thousands of acres of available at Walsh Development and historic Veale Ranch. With burgeoning real estate opportunities and a cost of doing business that is 3% lower than the national average, Fort Worth is strategically positioned for future success.
—
Jessica Heer is the Executive Vice President of the Fort Worth Economic Development Partnership. The Fort Worth EDP works directly with companies, site selection consultants, and corporate real estate professionals who are interested in moving or expanding to Fort Worth, Tarrant County, and the surrounding areas. If you’d like to learn more about Fort Worth, please schedule a meeting with us or check out our Why Fort Worth page.
