Our Site Selection Journey: Making the Final Decision

We revealed in part I of our own site selection journey that perceptions drove the formation of our short list of locations for C Studios, and in part II wrote about how we were surprised IPAs didn’t show up more in search results. Part III reviewed that website content could be more relevant and specific. In this final look at our decision-making process, we highlight our work with IPAs to confirm our decision.

Critical Questions. The Right Answers.

As we got into the final stages of our site selection process, we only reached out to three investment promotion agencies, two at the regional level and one at the country level. Contacting IPAs at this late of a stage is not uncommon – fresh research we’ve compiled from our report, Winning Strategies in Investment Promotion Marketing, shows that 72% of companies wait until at least the short-list before they make contact with such a group, underscoring how much due diligence is done without direct IPA input.

The information we received in return was quite good and incredibly helpful. What did we ask for? No surprise, but much of it was related to talent and workforce. We didn’t ask for all information to all agencies, but in aggregate, we requested approximate “cost per employee” comparisons across key markets on our short list around Europe, approximate wage ranges for certain types of skillsets, and availability or concentration of talent in those same skillsets. Lastly, we also sought help locating legal representation that would be relevant for a company such as ours.  

In each case, the IPAs we reached out to provided what we were looking for in a way that advanced our decision process, rather than leading to more questions.

Making the Final Decision

It’s no secret by now that C Studios is a Netherlands-based entity. The country was on our short-list from the start and the information we received in working with IPAs during the process didn’t change much.

Why the Netherlands? Business costs were part of it, as was an E.U. location, proximity to our key markets and a concentration of talent in the creative sectors. But there are plenty of other places that fall into these same categories, so what was the deciding factor?

Like many projects, it came down to factors that were ancillary to the evaluation, but no less important. For example, recent hires by one of our parent companies were in the Netherlands, so the ability to build a collective centre of excellence in a new country across our network of agencies was attractive.  

In this particular case, immigration was also easier for the Netherlands thanks to the Dutch-American Friendship Treaty, and with our managing director coming from the U.S., that was critical for a fast start. There’s no denying that the 30% tax ruling for expats in the Netherlands was a significant factor as well.

Overall, the entire process was a revealing one. We confirmed what we’ve heard from other companies investing overseas throughout our years in business, but also picked up a few insights along the way that will no doubt influence how we help cities, regions and countries in the future to increase visibility, build their business case and secure more inquiries.

Interested in learning about how C Studios can help you market your location? Schedule a meeting with Steve Duncan, Managing Director of C Studios.