Really good piece of advice and it stands true atleast in my country as it really depends because I stay in a region where if you invest into real estate you will surely get profits in couple of earning but the region which falls with 50 miles from my place there has been no appreciation in the value of real estate for decades, similarly it stands true for every single business as that's why analysis of region is very important and play a major role.
The issue of location is an important factors when it comes to any investment, make a lot of research regarding the choices of a location determined how the investment will improve, investing in a place where the raw material are available make the investment easy.
Regarding the investment location, in place where I live we are into rice farming which we produce tonnes of it, before, we due move it out for sell but since investors found out that we have access of it they decided to move down to our community to build a rice mill factory so they can have easy access to the farmer and also reduce lost for both of them especially for the farmers.