Effective Monday, March 16, 2020 and until further notice, Econsult Solutions is having staff members work from home. This form of “social distancing” has been implemented with the safety of our staff and the community at large in mind. We have instituted all necessary remote-working features and remain open for business, hard at work on current engagements and eager to hear how we can support your needs.
These are extraordinary times. The global pandemic has reached every aspect of every life in every corner of the world. More than ever, ESI stands ready to apply economics, strategy, and insight to help you move forward. Be on the lookout for additional content on our blog, Present Value. Together we will emerge stronger and wiser.
In 2018, Econsult Solutions, Inc. (ESI) was commissioned by the King of Prussia Business Improvement District (KOP BID) to complete a comparative location analysis, examining how King of Prussia compares to eight nearby suburban jurisdictions as a business location.
To conduct this analysis, ESI examined recent business site selection literature to determine criteria upon which employers and employees make location decisions, as well as how King of Prussia fares in these categories relative to competing jurisdictions.
Productive business locations are characterized by high concentrations of human capital, multi-modal transportation infrastructure, and a variety of business uses and amenities including retail, recreational, entertainment, and residential offerings. The ease and intensity of interactions within a knowledge-based economy, access to local amenities, and work-life balance are all important to today’s workers. King of Prussia has fared well in cultivating these characteristics, creating a base of success from which further momentum can be achieved.
Investors are actively adding new commercial office space, retail, and thousands of apartments to King of Prussia acknowledging it is a place of choice. The attraction and growth of new businesses and residents adds to the business ecosystem in King of Prussia, creating a positive system of reinforcement.
As King of Prussia continues to attract more development projects and commercial activity it grows and diversifies its local tax base. This enables Upper Merion Township to improve its competitive position on tax burden.
Overall, the recent resurgence of commercial office and multifamily activity in King Of Prussia, including the recent expansion improvements at the King of Prussia Mall and additions of King of Prussia Town Center, have improved KOP’s outlook as a choice location.