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3 of 5 most cost competitive major global cities are located in Canada

3 of 5 most cost competitive major global cities are located in Canada

Posted by PanamericanWorld on April 20, 2016

Amid a surging U.S. dollar, Montreal, Toronto and Vancouver placed in the top five most competitive global cities, according to KPMG’s biennial survey, Competitive Alternatives 2016. The report rated 111 cities on corporate tax rates, utility costs including natural gas and electricity rates, facility costs, labour costs and the overall cost of manufacturing. On the whole, Canadian cities were found to offer a 14.6% cost advantage over the U.S. average (up from 7.2% in 2014), while U.S. cities including Los Angeles, San Francisco, Boston and New York City all dropped out of the top 25.

Barrie and Sault Ste. Marie at least 6.7% more cost effective than the lowest cost U.S. cities in the region

Smaller Ontario cities also came out on top of regional rankings released for the Northeast U.S. and Central Canada. With a score of 100% representing the baseline U.S. average, Barrie scored 84.2%. That is 8% less costly than Youngstown, Ohio and more than 20% less than New York City. Meanwhile, Sault Ste. Marie recorded a score of 85%, an even 15% cost advantage over the U.S. average.

Belleville-Quinte West, Niagara Region and Thunder Bay on par with Ontario's most cost competitive cities

In addition to the 111 cities included within the report, 22 cities from Canada and the United States were benchmarked against the costs of feature cities. Included within this group were Belleville-Quinte West, Niagara Region and Thunder Bay, Ontario. Each scored similarly to the featured Ontario locations, receiving scores equal to, or below, Toronto's benchmark of 85.6%.

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