Office Space Resurgence: Post-COVID, there is a noticeable comeback in the demand for office spaces, indicating a shift towards a more hybrid work model.
Data Center Site Selection: Companies are actively searching for suitable locations for data centers, emphasizing the importance of utilities, available land, and pad-ready sites for quick market entry.
Desirable Site Selection Attributes: Utilities, land availability, and pad-ready sites are critical factors for site selection, emphasizing speed to market.
Real-Time Wage Studies: The trend of conducting wage studies in real-time is gaining prominence, reflecting the need for up-to-date information in economic development planning.
Focus on Life Sciences and Biotech: There is a growing emphasis on economic development initiatives in the Life Sciences and Biotech sectors, reflecting their increasing importance in the global economy.
R&D and Next-Generation Manufacturing: Economic development efforts are shifting towards research and development initiatives and next-generation manufacturing, indicating a forward-looking approach.
In conclusion, the 2023 Economix Conference offered valuable insights into the evolving economic development landscape. The trends and best practices identified present exciting opportunities for strategic planning and collaboration.