Site Selection Strategy: Economic Freedom and State Growth

This paper focuses on a strategy of site selection of corporate headquarters and if economic freedom should be a consideration for such within the United States. Furthermore, this paper will consider if managers should be concerned with state economic growth before choosing a location. Based on data for all 50 U.S. states, this paper investigates if site selection strategy of company headquarters should include consideration of economic freedom and state economic growth. As far as we know, economic freedom and growth for states within the U.S. have not been presented as considerations for management in company headquarters site selection to date. If state governments display a growth mindset by promoting an environment consistent with economic freedom, then management should gravitate to these more economically attractive states for their corporate headquarters. Our research supports that management could use economic freedom of a state to expedite the decision-making process for site selection, thus saving time and money for the organization.