Identify resources/inputs that are important to your industry.
This should include 1) labor (with any specific skill sets that might be required) and 2) at least one of the following: raw materials, suppliers, business-to-business services, environment conditions.
Indicate whether these resources are available in the city or region you have selected. If they are not, where and how would a new business in this city obtain them?
A good place to find skills required for labor in different industries is at the Department of Laborâ€™s Occupational Outlook website: https://www.bls.gov/ooh/
Discuss the impact of these resources on production costs. Some questions to consider might be:
- Are there transportation costs involved in acquiring resources?
- Are any functions typically outsourced?
- What type of transaction costs are involved?
- Are there external factors that might affect resources needed in production (eg: weather, regulation)