Economic development is often described in terms of wins and losses, but the real story is more often about preparation. Who was ready, and who wasn’t?

One of the most critical drivers of economic development is site preparedness. Having shovel-ready land or available buildings, more recently speculative (spec) buildings, that can meet the fast-moving needs of site selectors and corporate decision-makers could not be more important. These aren’t “nice to have” assets. They are make-or-break requirements in many cases.

We’re actively working with 30-plus competitive project opportunities, many with tight time lines. For these companies, speed to market is essential. Many are looking for sites that are shovel ready or close to it.

That means a site with infrastructure in place: water, sewer, electric, natural gas and fiber. It means the site is cleared and has zoning, permitting and environmental due diligence completed. And if we’re talking about existing buildings, there are minimum specs that are almost always required: 80,000 to 100,000 square feet, 32- to 36-foot ceiling heights, clear bay spacing and ample truck access. Miss just one of these, and a project can slip away.

Spec buildings — constructed without a tenant in place — are a key part of that strategy. While they’ve been more common in other parts of Ohio, they’re gaining traction here. Lake to River is actively working to change that.

Why? Because when a company finds a move-in ready building in one location and a bare patch of land in another, they’ll almost always choose the former. A quality spec building can mean the difference between being on the shortlist and being off the radar.

This isn’t just theory. It’s what the market is telling us. And we’re responding.

As the lead economic development agency in Ashtabula, Trumbull, Mahoning and Columbiana counties, we have a firm grasp of what companies are looking for. We also understand the demand. We just need the investors to step up and develop them. And they don’t have to do it alone.

Through our direct connection to JobsOhio resources, we can help developers access funding to prepare sites, conduct due diligence and even support vertical construction. We walk alongside our partners every step of the way, from early feasibility through marketing the finished product.

Site development is also one of the most collaborative areas of our work. It involves local governments, utility providers, landowners, developers, real estate brokers and economic development professionals working in lockstep. At Lake to River, we help convene these partners and align resources for maximum impact.

This type of work sets the stage for transformative investments that bring jobs, tax revenue and new opportunities to our region.

The good news is we’re making progress. We’re seeing more local partners embrace the need for investment in readiness. There are several spec developments underway who have already experienced success. We’re working closely with others who are interested in launching more in our region. And we’re identifying sites that can be competitive not just in Ohio, but nationally.

To the business community: if you’ve heard of Lake to River or JobsOhio but aren’t quite sure what we do, site development is a big part of it. If you own land, operate a business park or are considering investing in commercial real estate, we want to talk with you.

This is how growth happens: not by chance, but by design.

Sarah Boyarko is the vice president of economic development for for Lake to River.