When those issues were addressed, the facility usually was located near where the boss wanted to live. This is still happening. In the information economy, the factors driving location decisions are changing. If your product is information, distance to market is less relevant. You can send your product anywhere around the world in an instant as long as you have broadband technology.
Raw materials are still important but they have changed from physical items to ideas.
Now it is important to locate near people with good ideas so you can hire them and use those ideas to competitive advantage. People with good ideas want to live in communities with two characteristics.