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.
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