When a foreign company decides to execute a capital investment in the US, support from a trusted partner can be of tremendous value to mitigate the risks associated with the investment in several areas.
Understanding the regulatory framework is critical to properly plan and execute a capital project. Local, state and federal regulations have an impact on the design and construction process, and even on the selection of a project site that is adequate for the type of activity to be conducted. A local partner brings to the table the expertise in working with different regulatory agencies and other stakeholders, knowledge of the local market conditions and availability of infrastructure needed to support the project, and assistance in navigating available state and local incentives to support project funding.
Construction Materials and Methods
For companies executing their first project outside their country of origin, understanding the building materials and methods used in the US along with the unique environmental conditions, can be a challenge. Specifying materials and methods not commonly used in the US can be a costly decision, impacting not only the construction cost but the total cost of ownership of the facility. A local partner can help clients understand the construction materials and methods used in the US and provide value engineering services to ensure the selected materials and methods will perform similarly to the materials and methods the client is accustomed to.
Construction Market Experience
Understanding the local construction market is essential and, in many cases, an area where investors do not have the required in-house expertise. Selecting the best method to deliver the project (i.e., design-build, construction manager at risk, EPC or integrated project delivery), the general contractor or subcontractors to perform the work, the design firm, or negotiating construction contracts and pricing are areas where the expertise of a trusted local partner, as an owners representative, can greatly benefit the investor.
Cultural and Communication Barriers
Investors sometimes overlook the potential impacts of cultural and communication barriers to project delivery. A local partner can help navigate these barriers, ensuring all parties truly understand each other. Investors should seek to work with companies that are diverse in the workplace and, preferably, resources who can communicate in the investors’ native language.
Our tailored approach aims to provide the highest value to our clients while helping them navigate the intricacies of executing capital projects in a new market. This makes us the go-to consultancy for these types of clients. Although our company started outside the US, we have successfully adapted to the US market. It is in our DNA to support international companies to thrive in the US and create long-term relationships with them.
Faithful+Gould has a long history of partnering with international companies investing in the US, as well as in North America in general. In the recent years Faithful+Gould has partnered with Barilla, Bel Brands and Nokian Tyres to deliver their state-of-the art manufacturing facilities in the US.