CHICAGO—Manufacturing has undergone several changes since the advent of the recession, and those changes could end up benefitting many areas once considered off the beaten path. At a time when many businesses are flocking to the nation's downtown cores, manufacturers are headed in the opposite direction.
“The first and most important thing to these companies is access to low- and no-skilled labor,” Thomas Boyle, Chicago-based principal with Transwestern, tells GlobeSt.com, especially ones that need seasonal labor. “Not having that access hurts their operating expenses.”
But that access to labor has to be coupled with affordable land costs, affordable energy, and great transportation networks that can move products from the manufacturing site to the customers, and that combination only exists in certain pockets of the Chicago metro area and the greater Midwest, adds the site selection expert.
Continue Reading for Free
Register and gain access to:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.