Atlantic Canada deemed most cost-competitive region for business
Cities in the region take four out of the top five spots, according to KPMG’s Competitive Alternatives 2012 study released today.
Cities in Atlantic Canada take four out of the top five spots as the most cost-competitive cities for business in the country, according to KPMG’s Competitive Alternatives 2012 study released today.
Topping the list is Moncton as the most cost competitive place for business in Canada. Fredericton (2nd place), Halifax (3rd place) and Charlottetown (5th place) round out the top five list among 16 “featured” Canadian cities featured in the study. On a global scale, Moncton ranks in second place among all 103 cities featured in nine mature-market countries, with only Manchester, UK having lower business costs.
The KPMG study examines 26 key business cost elements, including labour, taxes, real estate and utilities, in 16 featured Canadian cities and compares more than 110 cities in 14 countries around the world.
“Atlantic Canada is becoming an increasingly attractive location for international business,” said Brent Spencer, Office Managing Partner for Moncton and Saint John with KPMG in Canada. “Each city included in the study showcased strengths for particular sectors, but with a common thread of a very competitive labour force.”
In terms of cost competitiveness for individual cities, sectors, and industries, Moncton leads all Canadian cities in both the R&D and corporate services sectors. Meanwhile, Fredericton edges out Moncton in the rankings for the manufacturing sector, Halifax ranks first among the Canadian cities for low costs in the digital services sector, and Charlottetown and Halifax tie for low costs in aerospace manufacturing. In St. John’s, the energy boom has resulted in rising business costs, causing St. John’s to rank 11th among the Canadian cities in this study, down from 7th in 2010.
