Cushman & Wakefield Proposal
A CUSTOMIZED STRATEGY BUILT TO SHORTEN THE SITE SELECTION TIMELINE AND DRIVE VALUE TO SCALE ENGINEERED
PROJECT TEAM OVERVIEW
PROJECT TEAM DESCRIPTION
SCOPE OF WORK
15 18 21 22
INTEGRATED SITE SELECTION
DELIVERABLES & REPORTS
25 26 26 26 27 27 27
SPEED TO MARKET
BATTERY EXPERTISE & CLIENT FAMILIARITY
INTEGRATED SITE SELECTION
CORPORATE CAPITAL MARKETS
SUPPLY CHAIN OPTIMIZATION
GLOBAL PLATFORM 27 TABLE OF CONTENTS
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Tyler Hales will lead the Site Selection Team and as such, will manage the various service offerings that fall within this jurisdiction. Business Incentives, Supply Chain Optimization, Financial Modeling, & Industrial Location Strategy are all intricate components of the broader Site Selection Team that must work in parallel as the process evolves. Tyler has handpicked C&W’s top resources across the country to specifically lead each service offering based upon past experience and success on behalf of other clients. Kyle Schneider will lead the Project Management Team due to his previous experience assisting large battery manufacturers design their facilities while ensuring efficient construction timelines, which is particularly important given today’s supply chain constraints. Kyle will be the primary point of contact for the Project Management team and will manage the planning, design, and construction process to ensure value and savings without sacrificing quality. Further we will leverage Kyle and his team’s expertise as we perform due diligence on potential sites as part of our Transaction Management process. THE RIGHT EXPERIENCE While we realize most large brokerage firms are able to create an extensive list of large-scale site selection clients, C&W is uniquely positioned given our experience within the battery / battery component manufacturing industry. To name just a few examples, C&W recently advised Honda & LG on a $4.4 billion production facility to be built in Ohio. Our proposed Site Selection Team has extensive experience advising these and countless other advanced manufacturing projects throughout the country. We will apply this experience to execute this project efficiently and methodically for ABCompany.
On behalf of Cushman & Wakefield (“C&W”) and our entire project team, we are thrilled to present our real estate site selection proposal for ABCompany’s multi-phase Electrolyte factory projects. We have outlined C&W’s applicable service lines and processes based on the feedback provided by ABCompany’s team. We look forward to discussing further and helping your team drive successful outcomes for each EL factory project.
C&W UNIQUE STRENGTHS THE RIGHT TEAM
Understanding ABCompany requires a trusted partner who understands the complexities of business incentives negotiations combined with the ability to mitigate supply chain obstacles while also ensuring speed-to-market delivery remains top of mind, we have assembled a world class team prepared to work in tandem to achieve excellence. We recognize projects of this scale require careful coordination and seamless execution. As such, we realize the importance of defining responsibilities, aligning objectives, driving sustainability, and ultimately securing a favorable real estate solution. In attempt to clearly define roles at the onset, we’ve divided the project team into three distinct subcategories – Transaction Management, Site Selection, & Project Management with a brief description of the leads for each below. Refer to the Project Team section for the full team and organization structure. Steve Billigmeier & Sid Dixon will lead the Transaction Team and be the primary points of contact for ABCompany throughout the transaction process. Once the shortlist of potential cities is identified, they will coordinate with best in class brokers in each market to begin identifying specific sites and aggregating all applicable market information for ABCompany. Their efforts will further augment the services provided by the Site Selection Team.
screening and scorecarding. A sample of those factors of influence, data platforms utilized, and interactive models
Furthermore, C&W has been Albemarle Corporation’s exclusive real estate provider for the last 2 years and recently executed a 5-year extension to assist with transaction management and site selection services across the world. C&W was also recently hired by Rivian to assist with the management of their national real estate portfolio. Services provided will include portfolio strategy, transaction management, business intelligence, build-to-suit consulting and site selection analytics for their approximately 100 locations nationwide. Should there be an opportunity to do so, we can assure that we will facilitate additional synergies that may be mutually beneficial to ABCompany in the future. SCOPE OF WORK – INTEGRATED SITE SELECTION Our scope of work includes location selection advisory, incentives procurement, and transaction management services (collectively referred to as our “Integrated Site Selection Process”). This integrated approach ensures seamless coordination of these three primary workstreams (with designated leads for each identified above) which is critical to speed to market and overall success of the project. The proposed Project Timeline included in the Scope of Work section illustrates how the three major components of this project will be overlayed into a cohesive process. Location Selection Advisory – We have a best-in class team of location strategy, labor analytics, and supply chain considerations. Our process starts by identifying mission-critical criteria and screening viable markets. Potentially viable markets are run though a scorecarding process incorporating all factors of influence important to the success of this project for ABCompany. Once a short-list of markets is determined our location advisory team works closely with Transaction Managers to evaluate sites in each market as well as Incentives experts to initiate a competitive incentives procurement process. The Location Advisory process often incorporate hundreds of data points into market
are included in the Scope of Work section . Incentives Procurement – The incentives team
designated for this project (Tyler Hales and Amy Gerber) has strong working relationships with city, regional, and state level economic development organizations across the U.S. Our incentives team has a strong engagement with public/private partnerships and incentives granting agencies such as mayor’s and governor’s offices. C&W ensures that the applicable agencies develop an incentive package to benefit the company both from a short- and long-term business strategy. We will ensure competition at the state, regional, and city level to make sure we achieve the best possible financial, community partnership, and timeline outcomes. Transaction Management - C&W Transaction Management services are fully geared to enhancing ABCompany’s business and real estate strategy. Our disciplined approach is based upon our team’s experience assisting similar clients facing similar challenges. The Transaction Management team will quarterback the entire transactions process keeping all parties aligned on ABCompany’s business objectives and mitigate risk through the entire real estate life cycle regardless of the ultimate location. Supply Chain Optimization – Tim Foster leads C&W’s Supply Chain Optimization group. We understand that proximity to suppliers and customers is a key driver for this project’s ultimate location. Time will ensure that we optimize logistics costs and shipping times across the network to mitigate potential future hurdles. Project Management – Cushman & Wakefield’s Project Management team understands that real estate decisions go beyond scope, schedule and budget. We manage the planning, design and construction process, to ensure value and savings, without sacrificing quality. Our project managers consistently deliver 10% to 15% construction cost savings to our clients and schedule improvements, while minimizing project risks.
KEY DELIVERABLES BY PHASE Below is a high-level timeline that illustrates various steps in the process and the cross-functional deliverables associated with these steps. We included a comprehensive project timeline in the Scope of Work section but we wanted to provide this executive overview to give you a better understanding for high-level milestones and the accompanying deliverables.
C&W Strategy - Full project scoping document with summary of stakeholder interviews and key project drivers C&W Strategy - Customized market filter model utilized to determine a viable long list (~10 cities) C&W Strategy - Interactive scorecard and sensitivity analysis ranking the top 10 cities based on unique ABCompany factors of influence C&W Strategy or 3rd Party - network/supply chain study for shortlisted markets C&W Project Management - design team and GC procurement C&W Strategy - incentives materiality and feasibility diagnostic for shortlisted markets C&W Transaction Management - short-list market surveys and real estate due diligence C&W Strategy - intramarket labor and site analysis C&W Full Team - RFP delivery to economic development agencies, developers, and building owners C&W Full Team - Integrated site analysis - real estate, tax & incentives, labor, building/ infrastructure comparisons C&W Strategy - integrated site scorecard & recommendation C&W Project Management - technical site due diligence 3rd Party Hazmat Expert - site evaluation, fire protection requirements, combustable hazard analysis C&W Transaction Management - real estate financial comparison, negotiation tracking, and finalized lease or Purchase & Sale Agreement C&W Strategy - final incentives offer, contract, and implementation C&W Project Management - materials sourcing C&W Project Management - project oversight - permits, construction, equipment delivery/ commissioning, etc.
Project Initiation and Location Analytics
Short-List Market & Site Evaluation
We trust that this proposal provides a greater understanding of how excited we are to become your partner on this journey. Please do not hesitate to contact us with any further questions or comments.
Steve Billigmeier Vice Chairman +1 303 813 6413 email@example.com
Sid Dixon Director +1 303 312 4273 firstname.lastname@example.org
Tyler Hales Executive Managing Director +1 415 852 5173 email@example.com
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PROJECT TEAM OVERVIEW
TYLER HALES LOCATION SELECTION & STRATEGIC ADVISORY LEAD
STEVE BILLIGMEIER TRANSACTION MANAGEMENT LEAD
SID DIXON TRANSACTION MANAGEMENT LEAD
KYLE SCHNEIDER PROJECT MANAGEMENT LEAD
INDUSTRIAL LOCATION STRATEGY Ben Harris ACCOUNT LEADERSHIP ACCOUNT TEAM BUSINESS INCENTIVES Amy Gerber SUPPLY CHAIN OPTIMIZATION Tim Foster
LOCAL CUSHMAN & WAKEFIELD TRANSACTION MANAGEMENT EXPERTS WILL BE INCLUDED BASED ON THE FINAL SHORTLIST OF POTENTIAL CITIES TO EVALUATE.
PROJECT MANAGEMENT Chad Stevens
PROJECT MANAGEMENT Kyle Griffith
HAZARDOUS MATERIALS & CODE CONSULTANT BENTYLER ENTERPRISES 3rd Party
FINANCIAL MODELING Olan Young
*A hazardous materials engineer & code consultant will also be key components of the site selection team. We have several experienced engineering teams we have worked with on similar projects. We will include the best team for the project once the scope and needs are further defined.
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PROJECT TEAM DESCRIPTION As illustrated on the previous page, the team will be specifically assembled for this project based on background and experience. Team members are chosen to provide world class site selection, incentives procurement, transaction management, and project management services. We understand the complexity, risk calculus, and capital investment associated with this project. Tyler Hales, the Strategy Lead for this project, has extensive experience across location strategy, business incentives, and advanced financial analytics. C&W’s site selection team has specifically performed work for two of ABCompany’s commercial partners, Honda and LG, and recently advised them on a $4.4 billion production facility to be built in Ohio (click link for full story) . We have a best-in class team of location strategy, labor analytics, and supply chain considerations. Our process starts by identifying mission-critical criteria and screening viable markets. Potentially viable markets are run though a scorecarding process incorporating all factors of influence important to the success of this project for ABCompany. Once a short-list of markets is determined our location advisory team works closely with Transaction Managers to evaluate sites in each market as well as Incentives experts to initiate a competitive incentives procurement process. We utilize a proprietary location analysis mapping tool built specifically for companies in the battery supply chain - the Location Advisory process often incorporate hundreds of data points into market screening and scorecarding. A sample of those factors of influence, data platforms utilized, and interactive models are included in the Scope of Work section. LOCATION SELECTION AND STRATEGIC ADVISORY
INCENTIVES PROCUREMENT The incentives team designated for this project (Tyler Hales and Amy Gerber) has strong working relationships with city, regional, and state level economic development organizations across the U.S. In many cases there is a public/private regional agency tasked with the first layer of engagement with inbound projects. State level incentives are generally approved by the Governor’s office, sometimes requiring other approvals based on size and magnitude of the incentive. Our incentives team has a strong engagement with public/private partnerships and incentives granting agencies such as mayor’s and governor’s offices. C&W ensures that the applicable agencies develop an incentive package to benefit the company both from a short- and long-term business strategy. We will ensure competition at the state, regional, and city level to make sure we achieve the best possible financial, community partnership, and timeline outcomes. SUPPLY CHAIN OPTIMIZATION Tim Foster leads C&W’s Supply Chain Optimization group. We understand that proximity to suppliers and customers is a key driver for this project’s ultimate location. Time will ensure that we optimize logistics costs and shipping times across the network to mitigate potential future hurdles. FINANCIAL ANALYSIS Olan Young will work closely with the account team to lead financial analysis and guidance required for executive-level decision making and transaction execution throughout all phases of the project. He will perform comparative economic analysis of potential solutions including cash flow, income statement, and balance sheet impact to conform to ABCompany’s financial methodologies.
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TRANSACTION MANAGEMENT C&W Transaction Management services are fully geared to enhancing ABCompany’s business and real estate strategy. Our disciplined approach is based upon our team’s experience assisting similar clients facing similar challenges. The Transaction Management team will quarterback the entire transactions process keeping all parties aligned on ABCompany’s business objectives and mitigate risk through the entire real estate life cycle regardless of the ultimate location. As the process evolves and a short-list of cities developers, we will select best-in class local market transaction managers to partner with. PROJECT MANAGEMENT Cushman & Wakefield offers a diverse team of project managers with a high level of relevant expertise. We start by listening to the needs of every client and every project in order to gain
an understanding of what success means. We are nimble and flexible and believe that in order to deliver a successful project we must set the groundwork early in the process. Specifically, Kyle Schneider, who will service as lead for this project if selected, has extensive battery materials manufacturing experience and understands how to deliver ground-up as well as TI manufacturing projects, especially focusing on growing companies who are looking to scale. Our project management group has wide geographic coverage in the United States and would be able to offer first in class talent regardless of the region. Due to C&W’s far reaching market knowledge, our first step for this particular project type would be to source the industry’s best hazardous material engineers to help set the stage as a basis of design. In addition to building the right team, C&W will also leverage local resources to ensure that our intel during the site selection process is detailed and fully vetted.
C&W EXPERIENCE C&W TRANSACTIONAL EXPERIENCE
C&W INCENTIVES EXPERIENCE (LAST 3 YEARS) 25+ PROJECTS OF 250,000 SF+ 8,000+ JOBS $2.0B+ CAPITAL SPEND
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SCOPE OF WORK
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SCOPE OF WORK
Although the specific scope of work needs to be further defined based on ABCompany’s exact needs, we have outlined what we expect will be needed based on our initial conversations.
INTEGRATED SITE SELECTION APPROACH There are numerous factors influencing the decision and level of success for your site selection project, including variables around manufacturing, transportation, distribution and the delivery of products to end-users. We also examine factors around your business strategy, supply chain, people, real estate and financial goals. Using the data gathered, we produce customized reports, maps and deliverables that unlock the best location for your facility. PROCESS
OUR INTEGRATED SITE SELECTION APPROACH INCLUDES:
Our Integrated Site Selection Approach Includes:
Business Objectives Business Case Approval Network Strategy
Meet Service Level Requirement Cost Containment Growth Enablement
Incentives & Financial Implications
Supply Chain Analysis
MHE Requirements Concept Design Equipment & Software Systems Freight Transportation Costs Inventory Optimization
Employee Headcount Skill Requirements Organizational Design Training & Recruiting Demographics
Build-to-Suite vs. Existing Infrastructure Market / Site Proximity Project Management
Cost of Capital Construction Costs Incentives / Tax Environment Leave vs. Own
Scoring Matrix of: Cost Quality Long-term Sustainability Quantity Scalability Competitive Set
Visualize Site Variables Lease/Site Negotiations Budgets & Timelines
Negotiate Incentive Package Total Operating Costs Board-Ready Financial Deliverable
Function Number Geography
OPTIMAL BUSINESS LOCATION
CLICK HERE for full size version
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SCOPE OF WORK
SITE SELECTION FACTORS OF INFLUENCE C&W’s site selection process incorporates hundreds of data points into market screening and scorecarding. Per our understanding, business incentives & customer proximity / supply chain considerations are of utmost importance to ABCompany. We’ve outlined this criteria along with some additional key site selection categories here (note this list is not exhaustive and will be customized to ABCompany’s specific drivers).
Materiality and application of business incentives Cost of labor for each relevant hiring category Cost of real estate and capital improvements Transport costs Cost of utilities Corporate tax environment: income, sales, property taxes Business friendly climate
Cost & Ease of Doing Business
Proximity to large clients Proximity to natural resources Supply Chain considerations: supplier/customer locations Supply Chain considerations: proximity to transportation/rail/ports/etc.
Accessibility & Supply Chain
Availability of viable real estate solutions Timeline of permitting process
Speed to Market
Developer readiness Overall Infrastructure Non-financial government incentives: land grants, expedited permitting, utilities/infrastructure, etc.
Natural hazard/disaster risk Humidity Availability of water and other critical resources
Key labor pool size by market for each relevant hiring category Key labor pool density by market for each relevant hiring category Hiring competition and presence of competitors/peer companies Job postings vs hiring volume by market
Skills assessment: detailed talent insights to identify current and future skills gaps and competitor analysis Diversity - presence of underrepresented communities and women in key hiring categories in market Submarket trends - commute patterns, density of talent, etc. Higher education pipeline: number of graduates, collaboration opportunities, trade programs, upskilling, etc.
Battery/Advanced Manufacturing & Life Sciences/Biotech Sector Concentration Peer/Competitor analysis - identification of other battery facility announcement trends
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SCOPE OF WORK
SITE SELECTION DATA We use best-in-class datasets in our location strategy and site selection process. A sample of those tools and associated capability/update cadence is here:
FREQUENCY OF UPDATE
Workforce supply, demand and talent pool profile data and analytics.
Real time talent intelligence data from LinkedIn database
LinkedIn Talent Insights
Workforce analytics, diversity, cost
Salary and wage benchmarking by city
Customized C&W Industrial Site Selection app showing availability of manufacturing talent, rail and port networks, location of major logistics, providers, demographic data and any other custom layers that are important .
Annually - midyear
U.S. property data subscription service
Data platform that uses mobile location data to track visitors, employees and residents for a location used for trade analysis, visitor journeys, demographic segmentation, neighborhood assessment, traffic and more. Global deal database tracking real-time financial incentives awarded to companies for foreign and domestic investment projects
Comprehensive economic data and forecasts
Proprietary C&W database of real estate statistics and comps
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SCOPE OF WORK
MARKET/SITE EVALUATION & DECISION SUPPORT Our integrated site selection process incorporates interactive models that provide a data foundation for an eventual location and site decision. These decision support tools allow for comparison of candidate markets and sites as well as sensitivity analysis by changing weightings of all input criteria. Additionally, this process generates board-ready deliverables supporting the location decision.
BUSINESS INCENTIVES Capital intensive projects, such as the project ABCompany is undertaking, put a financial strain on the company’s Profit and Loss statement. ABCompany will spend a significant amount of money up front to establish and build out the new facility and recruit and hire new talent. All of this investment outflow will occur prior to the facility generating the new revenues, which creates financial and timing risk. C&W understands that risk, and our incentives team excels at identifying the best economic development and government partners to help mitigate that risk, both timing and financial. Our team maintains strong engagement with public/private partnerships and incentives granting agencies across the country at all levels, including city mayor’s and state governor’s offices.
ABCompany’s presence in a particular location has tremendous financial implications not only for your company but also for the local municipality, state and utilities. The C&W incentives team utilizes a Profit & Loss Statement approach to incentive negotiation. This approach allows us to understand the costs to establish and operate a facility in each market and also the revenue streams that would be generated by the state and local governments as a result of the new investment and job creation. Our incentive negotiation approach is customized for each market being evaluated based upon those costs and revenue streams. This allows us to ensure that the applicable agencies develop an incentive package that truly benefits the company both from a short- and long-term perspective. In addition
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SCOPE OF WORK
to state and local agencies, we also evaluate the applicability of federal incentive opportunities either based upon the real estate location (e.g. New Markets Tax Credits) or working with specific federal agencies such as DOE where the grants could be appropriate and applicable. C&W also understands that an incentive only has value if it is captured and realized by the company. C&W will manage the incentive compliance for ABCompany to ensure the economic development and government agencies achieve their commitments to the project. The C&W incentives team has developed an in-house proprietary incentive compliance platform that will support the realization of the incentives by ABCompany, giving ABCompany an on-line portal for real-timing incentive tracking and incentive reporting. HOW WE CAN HELP • Evaluate and estimate the tax and operating cost impacts for each location being evaluated • Identify potential hurdles/opportunities available in each market • Develop a comprehensive negotiation strategy based on the project scope and the project’s financial impacts in each market • Expertly engage local and state officials and economic development agencies through our time-tested relationships • Identify utility partners to support initial infrastructure requirements and on-going operating costs • Effectively compare multiple incentive offers against a wide range of quantitative and qualitative factors and benchmark incentive awards against • Negotiate to ensure all possible benefits are secured
• Lead the incentive approval efforts to achieve full incentive approvals prior to executing any real estate transaction or public announcement • Coordinate public announcements with state and local Governor’s and Mayor’s offices • Monitor terms for compliance • Provide a seamless connection to a full range of in-house services including brokerage and construction management COST-MITIGATION AND INCENTIVE PROGRAMS MAY INCLUDE • Free or discounted land • Utility and transportation infrastructure support • Cash grants to support capital investment • Construction sales tax relief • Operating cost relief » Property, sales, income/excise tax » Utility usage cost reductions » Local gross receipts tax • Recruitment and training assistance • Expedited permitting, zoning and variance support • Building permit and impact fee relief • Federal incentives
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SCOPE OF WORK
BUSINESS INCENTIVES CONT’D Below is a high level summary of typical economic development tools for five prominent states in the Southeast as well as a recently incented company benchmark.
Grants or Monetizable Incentives
Property Tax Relief or TIF Financing
Utility Cost Incentives
Sales Tax Relief
Notable Recent Incentives
Nucor ($350M Capex, 180 Jobs)
Most state programs are based on headcount; however, depending upon location there could be a strong grant funding for capital investment. Recently reduced property tax assessment ratio for manufacturers. Property tax relief can be negotiated for up to 30 years. Strong state grant program and TVA (electric) can also provide cash grants to projects.
Incentives: - Employee Withholding Incentive - Cash Grant - Utility Infrastructure Incentive - Rail spur construction - Local cash grant on incremental property taxes
Yes (in form of grant)
Yes, in certain locations
Tyson Food ($300M Capex, 376 Jobs)
Manufacturing and building materials 1
Incentives: - State Grant - Tobacco Region Opportunity Fund
Mullen Technologies ($362M Capex, 434 Jobs)
Incentive: - Property tax relief on building and equipment
Shaw Industries Group ($400M Capex, 300 Jobs)
For a BTS location, company may have the opportunity to compete electric providers.
Yes, depending upon location Manufacturing
Incentive: - Infrastructure grant - Employee Withholding incentive - 20-year FILOT incentive
Aspen Aerogels ($325M Capex, 250 Jobs)
Virginia has multiple cash grant programs. In counties boarding TN and NC, there is grant funding through the Tobacco Commission
Incentive: - Grant - 10-year property tax savings - Discounted project site - Infrastructure grant
1 Based upon investment structure
SCOPE OF WORK
TRANSACTION MANAGEMENT AND REAL ESTATE FEASIBILITY Real estate feasibility evaluation of potential markets may include the following as appropriate: • General location attributes such as soft-support for production and manufacturing facilities • Access to transportation nodes, railways, ports, and interstates • Zoning and entitlements support in key industrial areas • Local permitting processes • Quantity of potential sites, existing facilities and under construction buildings that could potentially meet project objectives The real estate feasibility study is an iterative process that starts after identifying potential markets that meet labor and workforce requirements. The Real Estate Feasibility study will be conducted in parallel to the Incentives Feasibility study. As both studies complete, C&W will combine all relevant data into integrated deliverables for a holistic view of the top candidate market locations and all of the appropriate attributes. Each market location will be benchmarked against each other with scorecards. PROJECT MANAGEMENT While we understand this isn’t of initial concern, we wanted to expand on C&W’s Project & Development Services offerings in the event our assistance is required as the process evolves. Cushman & Wakefield’s project management team, Project & Development Services (PDS), understands that real estate decisions go beyond scope, schedule, and budget. We manage the planning, design, and construction process, to ensure value and savings, without sacrificing quality. Our project managers consistently deliver 10% to 15% construction cost savings to our clients and schedule improvements, while minimizing project risks.
C&W’s PDS team pursues the best solutions on behalf of our clients. It is not as simple as saying, “on time and on budget.” We listen closely to our clients, fully grasping their project goals and business needs while driving quality beyond their expectations. It takes determination to produce that level of work, and world-class expertise to do it well. C&W provides expert, end-to-end Project Management services that remove the risk for our clients. The key to our success is early involvement. Our Project Management team assists transaction teams with initial building selection activities while providing advice and input on work letters and related lease provision. Ultimately, we are engaged to bring work culture to life. C&W will manage the entire construction process from upfront strategic planning to move and relocation services. Lined-Up Service Providers – Cushman & Wakefield maintains a network of external architectural and engineering service providers and is able to make contractor recommendations based on site location and scope of the services required. These providers are accompanied by our in-house project and development services team. The Request for Proposal (RFP) & Competitive Bidding Process – Cushman & Wakefield has a highly developed process for the creation and distribution of RFPs, analyzing the responses, and ultimately providing disciplined recommendations on vendors and consultants for this project based upon cost, quality, experience, industry reputation, and more. Process – After identifying all team members, Cushman & Wakefield will create a list of potential bidders for each discipline that will receive an RFP. We routinely include all the vendors and consultants that have an existing relationship with our clients on the RFP distribution list.
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SCOPE OF WORK
DELIVERABLES, SUMMARIES, REPORTS, AND RECOMMENDATIONS C&W will provide individual detailed deliverables progressively as they are completed. A list of anticipated deliverables as a result of completing the scope of work above are shown below for reference. Response – The responses are received, date stamped, and logged-in as they are delivered to the office. A bid opening meeting will be scheduled with all applicable team members promptly after receipt of the responses. An analysis of the responses will then be undertaken to ensure that all responding firms are consistent in their understanding of the project. In many instances, inconsistencies in the content of the responses are evident and inquiries will be made to clarify the responses. Award – Upon completion of the leveling process, a series of interviews will be scheduled to establish a comfort level prior to awarding the contract. ABCompany will then select award winners. PROJECT MANAGEMENT CONT’D RFP Package – After having identified the need for a specific consultant on your project and created a potential bid list, the RFP package will be prepared. This document is extremely flexible and can easily be customized for the relevant discipline. Each RFP must assure that the appropriate scope is presented to the bidders and will help establish each vendor’s qualifications for the work at hand.
GANTT schedule of tasks and workstreams to achieve desired target milestones while simultaneously incorporating realistic timing considerations, time budgets for critical project risks, and critical project pivot and commitment points.
PRELIMINARY PROJECT SCHEDULE
FACTORS OF INFLUENCE SUMMARY
A holistic matrix identifying all location criteria critical to the success of the project identified above.
LONG-LIST MARKETS & COMPARATIVE SUMMARY
Comprehensive report that first identifies long-list markets and then a subsequent report that scrutinizes the long-list to arrive at the two or three finalist options that compare labor analytics.
REAL ESTATE FEASIBILITY EVALUATION
Iterative market evaluation scorecard in spreadsheet format that combines real estate market attributes. Includes an integrated qualitative scoring matrix to rank, rate, and benchmark suitability of market locations.
A preliminary cash flow analysis based upon the state and local tax environment and likely incentives opportunities, along with the economic development partners, benchmarked between states and identified local markets.
INCENTIVES AND TAX REPORT
PROJECT MAPS & GIS TOOLS
Project maps showing each candidate location in a visual format, complete with customized zoom/aerial/overlay and attribute filtering capability
Comprehensive report that consolidates and summarizes all consolidated feasibility data sources, including sources from third-party consultants that the client approves. C&W produces a board ready deliverable that delivers the feasibility summary and location selection recommendations while simultaneously providing links and access to all individual deep dive reports and link-access in one place to complete the Location Selection phase.
INTEGRATED PROJECT FEASIBILITY &
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SPEED TO MARKET We understand speed to market is one of the most critical drivers for this project. We have prepared a preliminary schedule below showing the workstreams associated with this project. Note that the “Project Execution” section will depend heavily on the type of real estate solution identified (existing infrastructure vs. build to suit, etc.). We are committed to ensuring an expedited location evaluation process.
FULL TEAM |
PROJECT MANAGEMENT |
TRANSACTION MANAGEMENT |
SITE SELECTION |
202 3 202 4 J F M A M J J A S O N D J F M A M J J A S O N D
PROJECT INITIATION AND LOCATION ANALYTICS
Project Kickoff - stakeholder interviews, data room, master schedule, etc. Confirmation of key location drivers & factors of influence Project start up / determine initial facility requirements (power, infrastructure, etc.) Assess project risks & determine risk mitigation strategies Finalize financial objectives & ROM budget Current & future talent impact analysis Market screening to determine viable long-list (~10 cities that meet mission critical criteria) Initial & confidential tax/incentives due diligence Customized location scorecard and short-list determination (qualified list of ~3 cities to pursue further) Design Team Procurement GC Procurement Procure NDA's & send RFP to relevant economic development agencies - city, regional, state, etc. Short-list market surveys and real estate due diligence Intramarket labor and site analysis Program definitions Tour top performing cities/sites & meet with economic development authorities Prepare and send real estate (site/developer) RFP packages Building due diligence / initial financial evaluation INITIAL integrated site analysis: real estate, tax & incentives, labor, building/infrastructure comparisons Schematic Design / integration / owner approval Review 1st round real estate/development proposals from landlord/developer teams Issue 2nd round real estate RFP to shortlisted landlords/developers Issue 2nd round incentives RFP package to economic development authorities UPDATED integrated site analysis: real estate, tax & incentives, labor, building/infrastructure comparisons Finalize best and final real estate RFP with top developer / landlord Finalize best and final incentives offer with authorities FINAL integrated dashboard & recommendation (supply chain, labor, incentives, real estate combined) client review, alignment, approval & selection Technical Site Due Diligence SHORT-LIST MARKET & SITE EVALUATION PROJECT EXECUTION
1 8 Months
1 6-22 Months
Development/lease contracts negotiations & execution (whichever is applicable) Incentives implementation, applications submission, hearings, & execution Long lead items / material sourcing Construction Documents / Code analysis Permits / Jurisdictional approvals Construction Equipment Delivery and Commissioning
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BATTERY EXPERTISE & CLIENT FAMILIARITY
INTEGRATED SITE SELECTION C&W realizes the challenges you’re up against and understands the complexity of making huge capital investments in your physical assets. Our team of site selection experts will help you confidently choose the best site for your business needs with easy-to digest data analysis and local market insights. We put your real estate to work for you by making it a competitive advantage that mitigates risk, lowers the total costs of operations, and meets service delivery pressures. We partner with you to evaluate locations and identify the best site for your business using data-driven analysis and local market expertise. Our Integrated Site Selection methodology employs a hub-and-spoke model in which a single-point of-contact leads, strategizes and coordinates all relevant services. This model ensures transparent communication and the successful delivery of a holistic real estate solution. CORPORATE CAPITAL MARKETS Cushman & Wakefield provides corporate occupiers and owners with real estate solutions created and executed to yield optimum results by arbitraging corporate credit and real estate market underwriting. Our customized advisory services and financing solutions provide our clients with key advantages to meet their objectives. Our full-spectrum financial services platform provides clients with customized and integrated capital solutions for all asset classes. A deep understanding of the capital stack allows us to structure optimal strategies and negotiate the best terms for each transaction. Through long-standing relationships and industry expertise, we provide comprehensive advice and execution services to meet our clients’ needs.
Cushman & Wakefield is rapidly becoming a leading partner for battery manufacturing projects. A few recent examples: • Our team is actively engaged with a company focused on production of battery materials and components – we are conducting a confidential multi-state site selection process for a $400 million (550,000 square feet) manufacturing facility. We are leading location strategy, incentives negotiations, and real estate procurement. • C&W recently won a multi-service, North American assignment for Rivian . The assignment will encompass a variety of services, including portfolio strategy, transaction management, business intelligence, tenant rep, lease administration, built-to-suit consulting and location and labor analytics for approximately 100 locations nationwide. • C&W recently advised Honda and LG on a $4.4 billion production facility to be built in Ohio. This included location strategy, site selection, and incentives procurement services. • C&W has been Albemarle Corporation ’s exclusive real estate provider for the last 2 years and recently executed a 5-year extension to assist with transaction management and site selection services across the world. • In 2021, C&W helped Enevate scale from an R&D
facility to a full-scale battery manufacturing facility including analytical lab, pilot line and production line.
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SUPPLY CHAIN OPTIMIZATION Our supply chain optimization team, led by Tim Foster, will work to identify the infinite variables around ABCompany’s manufacturing, transportation, warehousing and product delivery requirements to optimize the flow of goods from production to final sale. Whether it’s optimizing ABCompany’s network and inventory or securing the right facility in the right location, we assist you along the entire continuum of the supply chain. C&W’s sophisticated software evaluates and optimizes millions of supply chain components including product sourcing costs, inventory carrying costs and facility costs to design a supply chain with the lowest total landed logistics and inventory costs. MANUFACTURING PROGRAMMING AND DESIGN Cushman & Wakefield’s Sustainability Services offering provides a unique advantage to deliver actionable solutions by helping discover cost-saving opportunities, implement best practices that optimize building Cushman & Wakefield’s manufacturing planning group works with clients to transform processes and operations to maximize efficiency and productivity by re-planning how a facility works through the architectural process. Our group takes a fresh look at the organization of the manufacturing space to consistently improve operations and allow businesses to scale and grow successfully. This service is led by Jon Zimmerman who brings over 35 years of manufacturing planning experience. Jon has a gift to examine and understand what the best methodologies are for integrating all business operations cohesively. His involvement has proven time and again to be an instrumental part in the growth of many companies.
SUSTAINABILITY Cushman & Wakefield’s Sustainability Services offering provides a unique advantage to deliver actionable solutions by helping discover cost-saving opportunities, implement best practices that optimize building operational performance, enhance the occupancy experience and mitigate environmental risk. Cushman & Wakefield helps clients track and analyze sustainability KPIs, including energy, water, waste and indoor environmental quality with third party tools and real-time metering. From tenant spaces to whole building assets or portfolios, our services create ROI by boosting building operating efficiency and lowering operating costs. GLOBAL PLATFORM Cushman & Wakefield (“C&W”) is a leading global real estate services firm that delivers exceptional value for real estate occupiers and owners. Founded in 1917, C&W is among the largest real estate services firms with approximately 53,000 employees in 400 offices and 60 countries. In 2021, the firm had revenue of $9.4 billion across core services of property, facilities and project management, leasing, capital markets, valuation and other services. C&W has a strong entrepreneurial spirit and is known for its dedication to its clients. C&W’s mission, as published in its mission statement, always puts the client first, mobilizing and delivering vast knowledge, resources and talent throughout the world on behalf our clients, enabling them to make the most informed real estate decisions. The ability to marshal and integrate a wide range of diverse services from our own in-house resources is a substantial advantage that sets us apart from other real estate firms.
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