Drivers
- As e-commerce continued to surge, companies are challenged with consumer expectations of faster shipping times.
- Warehouse/distribution projects with both existing regional companies and new companies looking to locate in the region continued to fill the pipeline. Proximity to suppliers, customers and available labor weighed heavily into these companies’ expansion decisions.
Drawbacks
- Companies that import products and goods are faced with delayed shipping times and skyrocketing costs due to shipping container shortages and limited air freight capacity. This crisis was not only affecting consumer goods companies but industries that rely on a global supply chain.
