Ideally, it would be on the equator, yes. That eliminates a whole sheaf of math and engineering problems from the equation, after all. However, as long as you're fairly close (say, within the area between the Tropic of Capricorn and the Tropic of Cancer), then the math is minimally different. The further you get from the equator, the nastier the math and engineering challenges get.
Unfortunately, most of the places that are physically on the equator are either in Amazonia (no way the dragon allows that), in the middle of the ocean (no way the dragon allows that), central Africa (already have to deal with pissed off spirits and tribes, and no one really wants to be too close to the ghouls), or the phillipines and other island nations in East Asia (which are all mostly hellholes, or have dragon lairs, or both). Even when you expand to the areas between the tropics, you get Aztlan, more Amazonia, more Africa, the worst parts of the Middle East (I don't have to explain this, right?), India, Southeast Asia (mostly hellholes), and Australia ('nuff said).
So it comes down to Panama or India, and Panama in the canal zone is not only firmly in corporate hands (because of the canal), but it also has a bunch of existing infrastructure in place (because of the canal).