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What Should High-Growth Companies Look for in a Community?

10 Jan 2020


While there are many key factors to consider when selecting a location, the three “must haves” for entrepreneurial, high-growth companies are an existing entrepreneurial ecosystem, an affordable cost of doing business, and the “cool factor.”

I'll start off by stating the obvious…you’re reading this article because you understand the importance of selecting the optimal business location. I believe this to be true across the board, regardless of industry sector, company size, facility type (i.e. headquarters, distribution center, etc.) or other factors. But perhaps it is most important to entrepreneurs and high-growth startup companies (herein referred to collectively as entrepreneurial companies). While companies listed on the Fortune 500 list may initially come to mind when thinking about corporate site selection projects, entrepreneurial companies have increasingly begun to recognize the value of utilizing a systematic evaluation process for selecting the optimal location to expand their businesses.

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City of Elk River Economic Development
13065 Orono Parkway | Elk River, MN  55330
phone 763.635.1000