GLDPartners has developed a proprietary product called our Regional Competitiveness Model (RGM) that is a very useful data research tool which is used to help to identify the best target industry sectors for business growth for a given region. Almost all business location decisions are made (expansions, co-locations, consolidations, closures and new facilities) on the basis of analyzing pertinent data. The RGM amalgamates a range of datasets in a customized weighted system to illustrate where a region performs well and where it underperforms versus its competitor regions for a specific industry. A customized model is developed for each region which synthesizes a tailored array of factors and weights those factors to match the real-world requirements of a specific project type in a particular industry.
This is the fundamental tool for guiding a site selection process. Adapted from GLDPartners’ site selection practice and many years of experience, the Regional Competitiveness Model uses inputs of large quantities of data to measure how a region performs in key categories and then this information is compared to the performance of other regions. A myriad of factors (typically about 50 different factors) are analyzed including transportation, property, labor, overall and specific cost elements, regulatory, utilities, weather, etc. Depending on the specific nature of the project, the model pays special attention to a variety of business risk areas, costs and supply chain determinates.