Page 156 - Martin Marietta - 2023 Proxy Statement

MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS (Continued)

Generally, the Company’s building materials are both sourced and sold locally. As a result, geography is critically important
when assessing market attractiveness and growth opportunities. Attractive geographies generally exhibit (a) population growth
and/or high population density, both of which are drivers of heavy‐side building materials consumption; (b) business and
employment diversity, drivers of greater economic stability; and (c) a superior state financial position, a driver of public
infrastructure investment.
Population growth and density are assessed based on a site’s proximity to one of the megaregions in the United States.
Megaregions are large networks of metropolitan population centers covering thousands of square miles. According to America
2050, a planning and policy program of the Regional Plan Association, a majority of the nation’s population and economic
growth through 2050 will occur in 11 megaregions. The Company has a meaningful presence in ten of the megaregions. As
evidence of the successful execution of SOAR, the Company’s leading positions in the Texas Triangle, Colorado’s Front Range,
northern and southern California and Arizona’s Sun Corridor megaregions, its growth platform in the southern portion of the
Northeast megaregion and its enhanced position in the Piedmont Atlantic megaregion, primarily in the Atlanta area, are the
results of acquisitions since 2011. The Company has a legacy presence in the southeastern portion of the Great Lakes
megaregion, encompassing operations in Indiana and Ohio, as well as the Florida megaregion and the GulfCoast megaregion
in Texas.

Page 52 ♦ Annual Report