Two of British Columbia’s cities, Vancouver and Prince George, are the most cost-competitive locations for business on the west coast of North America, according to KPMG’s Competitive Alternatives 2012 study, released March 22, 2012.
British Columbia’s corporate tax rates, among the lowest in the G7, helped our cities come out on top, as taxes represented up to 18 per cent of location-related costs across the 110 cities evaluated in the study. Our low energy costs, fueled primarily by renewable hydroelectric power, also helped propel Vancouver and Prince George to the top of the chart. Utility costs can contribute up to 8 per cent of total location-sensitive costs.
The Competitive Alternatives study, an independent comparison of cities in 14 countries, helps executives considering business relocation and expansion. In addition to ranking cities based on 26 cost components, the study provides information on non-cost factors. British Columbia’s labour availability and skills, innovation, cost of living and personal quality of life were also contributing factors to our high rankings.
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