United States: Duff & Phelps Introduces SITE Selector

Last Updated: November 11 2019
Article by Gregory Burkart

SITE Selector is a new product offered by Duff & Phelps and powered by StageXchange. The platform brings economic development offices (EDOs) and companies together in a way that has never been successfully accomplished before. SITE Selector was designed to quickly identify target locations, analyze and accelerate the due diligence process, and select the best possible location for the project.

Solving the Problem

Inefficiency has always been a problem in site selection due to large quantities of data that must be analyzed before making a recommendation. Lack of consistency in selection standards, unreliable data sources, and apples to oranges comparisons made the process onerous and hard to manage. A technology solution was needed to reduce the noise and create efficiency in the practice.
SITE Selector is the first digital marketplace for site selection. The platform provides information, tools and a workflow that enables teams on both sides of the market to analyze, refine, select and negotiate for maximum impact and efficiency. Improved efficiency means improved customer experience. Duff & Phelps' clients now have the added benefit of a tool that will ensure quality while accelerating transaction time. SITE Selector is an easy-to-use, customizable tool that:

  • Identifies top locations based on project requirements
  • Analyzes candidates using embedded pro formas and financial models
  • Selects the best possible location

With integrated third-party data, embedded tools and the ability to connect sites to financial models, SITE Selector can support the entire process from defining requirements to executing a transaction.

Identify

The integrated marketplace solution enables companies to search among sites and incentives provided by participating EDOs using AI-assisted search across 150 dimensions to retrieve appropriate matches. This exponentially reduces the time it takes to determine the best candidates so that customers can progress quickly to analysis and selection.

Analysis

SITE Selector clarifies the value of opportunities through vetting, financial models and a numbers-driven approach. The matchmaking AI is only the beginning of the process. Bid solicitation, submission, comparative analysis and scoring are all built into the platform.

Selection

Collaborative workspace reduces the amount of time that it takes to choose from among the top sites and make a selection. Each step of the journey is encapsulated in the project space with all the necessary information and structure needed to validate the decision.

Status

The platform requires accurate and up-to-date business intelligence to optimize the site selection experience. Therefore, membership in the platform is free for economic development authorities and actively encouraged. As a result, EDOs have begun to submit aerial photos, drone videos, demographic data, transportation analysis and incentive summaries into the platform to create virtual deal books for site selectors. EDOs have been asked to promote at least three sites on the platform with each site having a preview page for investors and selectors to review at a glance.
The site selection space is evolving and so is technology. SITE Selector is leading the charge as the most comprehensive tool in the market today. A single tool can now match requirements with sites, analyze and compare opportunities, select from among the best candidates, and begin the transaction.

SITE Selector will reduce the number of hours required to produce results while improving efficiency and customer satisfaction.

The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.

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