Services: Reverse Site Selection
Location: Martinsville, Virginia
Properties Analyzed
Subsectors Identified
Martinsville-Henry County Economic Development Corporation is a public-private partnership between Henry County, the City of Martinsville, and the Harvest Foundation of the Piedmont. The organization’s mission is to create new job opportunities and expand the tax base for the area; support and develop local industry; and market Martinsville-Henry County globally as an exceptional place to live, work and play.
Global Location Strategies was commissioned by the Martinsville-Henry County Economic Development Corporation to conduct a reverse site selection analysis for two of its properties – Commonwealth Crossing and the former DuPont industrial site. The organization sought to discover the most optimal industry subsectors and develop targeted business cases for each site.
The GLS team identified and inventoried the primary site characteristics of each of the sites in consideration before performing a SWOT assessment and an industry competitiveness analysis, resulting in the identification of eight subsectors. A site competitiveness analysis proceeded, which benchmarked the Martinsville-Henry County sites and community-at-large against sites and communities likely to compete for the same investments.
In 2021, the GLS team delivered the results of its reverse site selection analyses. The results prioritized investments into each site based on anticipated return-on-investment (ROI), focusing on advancing Martinsville-Henry County sites toward investment readiness for targeted industry subsectors.
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