As anyone who has purchased a home knows, location can be a driving force behind your success, happiness and overall quality of life—even more so than the home itself.
The same goes for business. Where you choose to do business can influence your success as much as what you do and how you do it. That’s why, when you are considering a business relocation, the location itself should be your top priority.
That’s especially true in 2021, as new factors are changing how businesses see different locations.
Are you considering an Iowa relocation, or thinking about expanding your Iowa business opportunity within the Greater Des Moines region? Before you relocate business to Altoona, Iowa (or another community in the area), ask yourself the following questions:
Is the location near a major city?
Close proximity to a big city is a key advantage for any business. Des Moines, Iowa, is the perfect example. Businesses in the greater Des Moines region benefit from a larger customer base, workforce and business community than a small town could offer.
If you’re considering a relocation or expansion within Iowa, take a look at communities like Altoona, Iowa. Altoona is located just ten minutes from Des Moines; so, you get all the benefits of a big city plus the lifestyle and low cost-of-living of a small town.
How’s the local transportation infrastructure?
In 2021, a region’s transportation infrastructure is critical to economic development. Logistics businesses depend on transportation channels like highways and airports to move products and obtain the resources they need. Even if you aren’t in the logistics business, transportation is still important. Your customers, clients and employees depend on it.
During COVID-19, we have seen just how much every person and business relies on the supply chain. When you locate your business in the heart of a good transportation infrastructure, you can protect your investment from expensive and potentially disastrous disruptions to the supply chain.
Before you relocate or expand your business opportunity in Iowa, consider the scope and variety of the local transportation infrastructure. Altoona, Iowa is a good example. The city is located at the crossroads of two major highways, with railways and an international airport nearby.
Is the community growing?
With major changes occurring within the climate and the economy, many communities are undergoing significant changes. That’s why, before you relocate or expand your business, it’s a good idea to look at several key economic indicators that may point to the future success of a community.
One of those key indicators is local population growth. If a community has experienced steady growth over the last two decades, it’s a good sign that the community is healthy. On the other hand, if people have been leaving the community, you may want to reconsider your move.
Altoona, Iowa is a good example of a community with a variety of positive economic indicators, from rising capital investment to population growth. Since 2000, Altoona’s population has grown by 85% to more than 19,000 people. Meanwhile, the City recently announced record-high investment in residential development for 2020.
Would you enjoy living in the community?
Business and life often intertwine. That’s why, when considering a location for your Iowa business, it’s important to ask yourself: Do I want to live in this community? Do I want to ask my employees to live here? (Even if you aren’t planning to move to the community, remember that you and your workers will be spending a lot of time there, so the same rules apply.)
‘Quality of life’ is a pretty ambiguous term, so we recommend looking at specific features of your community: local education, cost of living, safety, public health—including the community’s response to COVID-19—as well as access to nature and entertainment.
Does the community offer a business-friendly environment?
A good way to measure a business climate is to take a look at the local chamber of commerce and economic-development and/or travel initiatives. It’s a good sign when a community goes out of its way to promote its local businesses.
Also, you can usually gauge the health of a local economy through the city’s annual report.
The bottom line:
Location has always been a key factor for businesses considering a move. But now that so many communities and local economies are changing, location is more important than ever. Before you move or expand your business, consider factors like cost-of-living, local transportation, proximity to major cities, population growth, economic health and well-being.
Are you considering relocating to Iowa or expanding your business within the state? Take a closer look at Altoona. Just east of Des Moines, Altoona is a growing community featuring all of the advantages discussed here, and more.