From Vacant Land to Vibrant Hub: How Site Readiness Drives Local Economic Growth
Vacant land can feel like a puzzle for local jurisdictions: is it just a minimal tax burden—or the foundation of a thriving economic hub? The answer often comes down to one thing: preparation.
In today’s competitive market, developers and site selectors aren’t just shopping for land—they’re hunting for speed and certainty. Risk, delays, and unknowns are deal-breakers.
A proactive site readiness program is a municipality’s most powerful lever for attracting commercial development. It removes uncertainty for private partners and signals: we’re open for business. With the right preparation, your community no longer competes on price alone—it competes on time-to-market.
The Pillars of a Successful Site Readiness Strategy
A “shovel-ready” site is more than a cleared lot—it’s a carefully orchestrated package that answers every developer’s questions before they even ask.
1. Proactive Due Diligence
Don’t wait for developers to request it. Pre-zone land for its highest and best use. Complete foundational studies like Phase I Environmental Site Assessments (ESAs), geotechnical surveys, and title searches—so no surprises slow the project down.
2. Infrastructure Readiness
Developers need to know what’s available and how quickly they can connect. Have detailed information on power, water, sewer, and high-speed fiber. If utilities aren’t on-site, provide engineered plans with cost estimates.
3. A Predictable Process
Time is money. Map permitting and approval timelines, provide a single point of contact for priority projects, and make all applications and fees transparent online.
4. Strategic Marketing
Even the most ready site is ineffective if no one knows it exists. Create a “Certified Sites” portfolio with high-quality aerials, data sheets, and conceptual layouts to actively engage brokers and site selectors.
Financing Your Vision
Upfront costs for due diligence and infrastructure can feel daunting—but think of them as investments in future tax revenue, not expenses.
Communities don’t have to fund readiness alone. Partnering with municipal finance experts can unlock solutions like:
Public-Private Partnerships (P3s)
Municipal Bonds
Tax Increment Financing (TIF)
Special Assessment Districts
Vacant land is more than dirt and grass—it’s potential. A site readiness program transforms it into a community asset, shifting the conversation from selling land to selling certainty.
RBC helps communities turn vision into reality. Explore the financing models that could launch your site readiness program and make your community a destination for development.