4 Quality of Life Indicators to Measure In Site Selection

04/05/2022

The International Economic Development Council consistently ranks quality of life as one of the most important factors to consider in site selection. It’s a factor that continues to jump up in the ranks in front of many other considerations such as connectivity and infrastructure – which are extremely important too.  The sometimes afterthought of quality of life is more important than you may think.  When making business expansion decisions, quality of life has an impact on the workforce your company attracts and retains.  These four quality of life indicators are important to keep in mind when making your corporate expansion and business relocation decisions. 

Recreation & Leisure Time

How your workforce will spend their recreation and leisure time outside of work is just as important as where they will physically spend their days working.  Measures like greenspace and parks, entertainment opportunities, concerts and festivals, sports and other outdoor activities should all rank high on the consideration set for site selection. 

Home to the #1 tourist destination in Kentucky, South Western Kentucky is proud to have been recognized as earning a 10/10 on livability from TVA, a mark we earned due to our region’s many recreational and leisure activities. 

Studies show leisure time may have a direct correlation to one’s physical & mental health, as shown in this studyby Professor Matthew Zawadzki, which leads in perfectly to our next quality of life indicator important to site selection. 

https://news.ucmerced.edu/news/2015/relax-benefits-leisure-go-beyond-moment

Physical & Mental Health 

If the last two years have taught us anything, it’s that both physical and mental health are paramount to a workforce’s success.  When choosing a new corporate location or a site for expansion, the region’s healthcare services should be considered. As more and more site selections are made in more rural areas, the community’s healthcare systems should be examined alongside its connectivity to specialty healthcare areas. 

South Western Kentucky is fortunate to have Vanderbilt-affiliated and award-winning healthcare providers in its region. A medical center, acute care facilities, several urgent care facilities, an adult psychiatric facility, a specialized cancer center and a telehealth and affiliate program with nearby Nashville-based Vanderbilt are all located in our region. 

Education

An important quality of life indicator in site selection is education. It’s important in many ways for corporate decisions on expansion – current families of employees, talent pipeline considerations, and continuing workforce education. The following are all important factors to consider when it comes to education.  Rank your expansion decision against:

What will the children of your employees educational opportunities look like? 

Is post-secondary education attainable and affordable in close proximity to your location? 

What is the talent pipeline like for local workforce? 

Is there future development opportunity for my employees? 

There is an innovative development under way in South Western Kentucky with the creation of an academy model approach to public high school education. Talent pipeline programs like HOPFAME have been spotlighted for career pathways they create.  Learn more about educational initiatives in South Western Kentucky at https://southwesternky.com/living-here/education/.

Social Belonging
Diversity and inclusion, cultural development and a feeling of social belonging are important site selection factors.  This aspect is going to look a bit different for every member of your workforce, so it’s important to measure your future site against various factors.  Factors such as inclusion, connection to one’s environment and the people in it, as well as involvement are all key factors.  

In a recent TVA evaluation, South Western Kentucky was found to have a diverse population with cultural opportunities to engage with, along with civic, social and political opportunities. Also ranked home to one of the most giving communities in the Commonwealth of Kentucky, South Western Kentucky’s spirit of inclusion is high ranked in the same TVA evaluation. 

Many factors ultimately lead to site selection and business expansion decisions. These four quality of life indicators are just a piece of that puzzle you should consider as you consider expansion.  The World Health Organization identifies additional quality of life indicators at https://www.who.int/tools/whoqol.  We share more information related to quality of life for companies that locate in South Western Kentucky in the “Living Here” section of southwesternky.com.