CHARLESTON, S.C.—Launching a large-scale new facility in the US is a critical decision for any company. The project must be planned and managed correctly from the outset in order to ensure its success.
Womble Bond Dickinson Economic Development attorney Stephanie Yarbrough has helped numerous companies find, develop and open new US locations. In a new article for Area Development, Yarbrough examines all of the critical questions involved in such a project. These key questions include:
- Where do they locate?
- How do they identify the site?
- What infrastructure will they need?
- What are the workforce needs?
- What size and type of building is required?
- Who will design the building?
- Who will build the building? And
- Are there environmental issues on the site, and if so, who will address them?
Yarbrough writes that the first step should be developing the right internal and external teams to examine and answer those questions. Getting those teams together early in the process can help a company avoid confusion and problems down the road.
“The very best teams do not have a secret sauce (other than a commitment to the project and the goals of the company). Egos must be left at the door, and the entire team must be committed to providing the very best service possible,” Yarbrough writes.
In addition, company officials must expect and be prepared for all sorts of unforeseen complications and problems.
“No project starts out anticipating these complexities, but a team must be structured with the potential for complexities in mind, and the entire team must be flexible to facilitate the dynamic and changing needs of the deal,” Yarbrough writes.
Click here to read “The Team…and the Timing When Making a U.S. Location Decision” by Stephanie Yarbrough in Area Development.
Stephanie Yarbrough has played a role in many of South Carolina’s largest economic development deals of the past 20 years. She works closely with companies seeking to expand or relocate operations to the Carolinas and the Southeastern United States. Her efforts on behalf of clients have led to the creation of thousands of new jobs and billions of dollars in new investments. When the New York Times profiled Charleston’s economic boom in 2017, Yarbrough was one of the local leaders the Times turned to for insight.