The recent Ohio EDA conference welcomed site selector Brad Lindquist from Deloitte.
You don't get Pollyanna from a site selector so that's why I was all the more happy to hear most of the trends Brad shared were upbeat from my perspective. Here's a few of note:
- On China: "Our clients are bypassing China." Deloitte had China visits once per month a few years ago and now is at a third of that pace or lower.
- On Foreign Direct Investment in Ohio: The top five countries for FDI in the U.S. are UK, Germany, Japan, Canada, and France. Ohio enjoys the same top five, albeit not in that order.
- On Talent: Always number one among site selection criteria, but talent is now more a site driver as sites themselves are taken for granted as being ready-to-go anyway.
- More on Talent: He called it the "talent paradox" adding, "Man hours are being replaced by kilowatt hours." Automation continues to advance, of course.
- On Reshoring: He confirmed this trend saying, "We are seeing reshoring of production and customer contact centers."
- On Capital: He also confirmed that large companies are "hoarding cash" while they are waiting for the election and watching Europe's economy as well.
- On Europe: He cautioned optimism about a continually improving economy noting that, historically, 80% of GDP growth in the U.S. is tied to the European Union. That's not so good.
Five out of seven isn't bad.