Interview with a Site Selector: Investment Outlook Brightens Following Election
As the dust settles from the 2024 elections, businesses are reigniting delayed projects, signaling a strong economic push into 2025. According to Parker Criswell, Client Advisor with Ginovus, a global site selection and economic development consultancy, many companies had postponed major investments pending election outcomes.
“Towards the end of 2024, many corporations delayed their projects until election outcomes became clear, resulting in a backlog of projects moving into 2025,” said Criswell.
“These projects are now poised to move forward as new state, and federal administrations establish their economic policies. We expect both delayed and new projects to gain momentum over the next six months in response to both regulatory and economic changes.”
Newly introduced tariffs (taxes on imported products) are expected to create ripples throughout the economy, forcing companies to reassess their trade strategies.
“The cascading impact of new tariffs will vary significantly across the business landscape,” Criswell said.
“As the U.S. implements import tariffs and trading partners respond with retaliatory measures, domestic companies will face complex strategic decisions. Companies relying on international trade may need to scale back expansion plans or hiring as they absorb increased costs.”
Despite these challenges, Criswell noted that tariffs could drive positive shifts, including “nearshoring” and “colocation” initiatives to stabilize supply chains. The sectors most affected will include technology, manufacturing, automotive, and agriculture, which rely heavily on global trade networks.
Indiana is positioning itself to attract new business investments by revising its high school diploma structure to incorporate more work-based learning and career exposure opportunities.
“100%,” said Criswell when asked whether this would enhance Indiana’s competitiveness.
“Indiana’s existing educational institutions already possess tailored programs to support the talent and skill needs of the state’s major industry sectors. By enhancing high school diplomas in this manner, the state will develop a broader skilled workforce, assuring new and existing employers that any Hoosier hire will bring experience and talent, cutting down on crucial onboarding and uptraining lead-times.”
Communities competing for corporate projects need to showcase key attributes to stand out. According to Criswell, successful communities share three main traits:
- Proactive Economic Development Efforts: “Site readiness should begin before a project is presented to a community or region. Maintaining detailed site inventories and regularly practicing RFI responses and site visit protocols ensure smooth, coordinated presentations.”
- Creativity: “Successful communities avoid a one-size-fits-all approach. They consider each project’s unique drivers and submit sites and regional assets that align with each project’s requirements.”
- Self-Awareness: “Communities best positioned to win projects understand their unique strengths and skillsets, from both a site and workforce standpoint. They leverage this knowledge to pursue projects that naturally fit their strengths, resulting in more successful partnerships and sustainable growth.”
To remain competitive in site selection, Johnson County must continue making strategic investments in key areas.
“Continue to proactively invest in economic development programs related to site readiness, workforce development and attraction, housing stock improvement, and quality of place,” Criswell said.
“While implementing these initiatives, it is vital to also promote the uniqueness of Johnson County communities simultaneously and in unison. Focus on the key assets the region already has available to attract corporate partners that best complement the community’s capabilities and values. Be wary of chasing trends that do not align with long-term success for everyone involved.”
With these strategic approaches, Criswell believes Johnson County and other communities can secure meaningful economic wins in an increasingly competitive market.
For further information, Parker Criswell can be contacted at parker@ginovus.com. More details on his expertise can be found at the Ginovus Team Page.
Visit AspireJohnsonCounty.com to learn more about Aspire’s work as Johnson County’s local economic development organization. Businesses interested in site selection or development in the Johnson County area can contact Amanda Rubadue, Aspire’s Vice President of Economic Development, at arubadue@aspirejohnsoncounty.com.