Plant Location Decision
Starting a business in Laredo, Texas
Laredo, Texas, is an ideal place for any business, whether small or big, for a company or an entrepreneur to thrive. There are several reasons for this, including but not limited to the fact that it was ranked 15th in the 2017 list of Best Large Cities to Start a Business and 4th in the Lone Star State. The city ranked 12th in the Access to Resources rank and the number 1 city ideal for Hispanic entrepreneurs in the US (CNBC, 2018).
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Located in South Texas and on the Northern side of the Rio Grande River, Laredo was founded in 1755. The city grew from a simple villa to one of the largest US-Mexican border inland ports. Because of its proximity to Mexico, the workforce is mainly bilingual and focuses on healthcare, education, utilities, transportation, and trade (Caminiti, 2017).
More than $ 283 billion worth of goods pass through the port. 2016 the port handled more than 50 percent of the US-Mexico trade. Laredo’s high volume of work makes it the leading city in vehicle parts export from the US to the rest of the world. This means there is a lot of room for any entrepreneur who wants to get started to do so (Caminiti, 2017).
The cost of living in Laredo is 8 percent lower than the average US rate. The price of homes, although rising steadily, remains affordable. The city has a population of approximately 236,000 with a,n unemployment rate of only 4.6%. The per capita income of Laredo is $16,673, while the median cost of housing is $179,945 (Caminiti, 2017).
At the state level, small businesses get assistance from the Texas Enterprise Fund through incentives tied to capital investment and job creation in the area. The Laredo Community College, Texas A&M University, and the Texas A&M International University are also located in the city. Other infrastructures in the town include the Interstate highway, the Laredo International Airport, The Union Pacific Railroad, and two Foreign Trade Zones (Texas Economic Development Corporation, 2019).
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Caminiti, S (2017). The top 15 cities in America to start a business in 2017. https://www.cnbc.com/2017/07/21/the-top-15-cities-in-us-to-start-a-business-in-2017.html
CNBC (2018). These are the ten best big cities for starting a business in the US. https://www.cnbc.com/2018/05/04/wallethub-survey-best-big-cities-to-start-a-business-in-america.html
Texas Economic Development Corporation (2019). Laredo Area. https://businessintexas.com/texas-regions/south-texas/laredo-area
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[u06d1] Unit 6 Discussion 1 Plant Location Decision
Review the information on “Location Analysis,” beginning on page 344 of your textbook. Determine the best city in your state, your home state, or a state of your choice for locating your business.
Be sure to analyze your location based on all of the factors presented in the textbook and post your explanation in this discussion.
Your initial post should be approximately 300–400 words.
Revisit the Courseroom after your initial post and respond to at least two other learners’ posts.
UNDERGRADUATE DISCUSSION PARTICIPATION SCORING GUIDE
Due Date: Weekly
Percentage of Course Grade: 24%.
|Apply relevant course concepts, theories, or materials correctly.
|Use examples or supporting evidence to analyze course concepts, theories, or materials correctly.|
|Collaborate with fellow learners, relating the discussion to relevant course concepts.
|Collaborates with fellow learners, relating the discussion to relevant course concepts and extending the dialogue.|
|Apply relevant professional, personal, or other real-world experiences.
|Applies relevant professional, personal, or real-world experiences to extend the dialogue.|
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