Challenge: A century old, privately-held global medical device company (prosthetics/orthotics), required a new US headquarters with a headcount of 150 people. The new location would have to favorably impact the company’s business culture, reduce labor costs, provide access to a quality labor force and ensure it could recruit top talent.
Strategy: After conducting a multi-regional location analysis, six finalist communities were identified that would optimize labor savings, workforce metrics and economic incentives. In each instance, real estate costs were neutral given that the client would locate in a Class A office property in comparable office markets exhibiting similar rent structures.
Results: By analyzing competition and saturation in the medical device sector, as well as identifying incentive programs specifically applicable for our client’s specific jobs, the client reduced labor costs by nearly 38% with savings of $18,000,000 plus an additional $1,200,00 million incentive award for job creation for a total of $19,200,000 million in overall savings.