PICTOU - Pictou County beat out 38 centres across Canada as the best site in the world for doing business, according to a new KPMG report comparing business costs in 121 cities in North America, Europe and Asia-Pacific.
The Competitive Alternatives report measured 17 industries with cost comparisons based on 27 significant components, such as wages, transportation, utilities and taxes. Despite the rise in the Canadian dollar, Canada held its top position as the most competitive place in the world to locate a business, with costs averaging 9 per cent lower than regional US counterparts.
“We’re very pleased and proud that Pictou County did so well. The KPMG report confirms and promotes the advantages of locating a business in Pictou County,” said Rob Roy, CEO, Pictou Regional Development Commission.
Pictou County, Truro, Sydney and Halifax were the only Nova Scotia centres considered in the study. In the comparison of 39 Canadian centres, Truro and Sydney took fifth and seventh place, respectively. Halifax, the only Nova Scotia city included in a comparison of large international centres, ranked fourth in overall costs compared with 98 cities in 11 countries.
“Nova Scotia's growth strategy - Opportunities for Prosperity - is all about working with the private sector to create a positive climate for new investment, new opportunities and new jobs," said Premier John Hamm. "The KPMG report is proof that Nova Scotia's economy is on the right track and will help our province and communities to keep growing in a smart, sustainable way.”
“Cost is a vital issue for companies looking to relocate or expand operations, and the KPMG report highlights Nova Scotia’s significant cost advantage. When you consider we also offer a skilled workforce and great work ethic, the report reinforces and bolsters our global competitiveness,” said Stephen Lund, President and CEO of Nova Scotia Business Inc.
Nova Scotia centres rated most favourably in the areas of R&D, advanced software development and corporate services. In Pictou County, advanced manufacturing and electronics assembly figured prominently. “As part of our Regional Business Cases, NSBI will build on these sector-specific advantages through our investment attraction activities,” said Mr. Lund.
“The report has given a great boost to our business case for Pictou County,” he added.
This is the first year Pictou County has participated in the biannual Competitive Alternatives report. The report, released today, provides essential information for companies seeking a cost advantage in locating business operations. KPMG considers it the most thorough comparison for international business costs ever undertaken by the international business-consulting firm. Full results are on line at www.competitivealternatives.com.
KPMG will promote the report through a speaking tour of 18 cities in North America and Europe from Feb. 23 to Mar. 19. “Pictou County will stand out against competitors worldwide. We’re confident key business leaders around the globe will come to recognize the significant advantages Pictou County has to offer,” said Mr. Roy.
The Pictou Regional Development Commission leads community economic development activity in Pictou County resulting in an expanded economic base and improved economic well-being of County residents.
Nova Scotia Business Inc. is the province’s business development agency, an organization that works with companies to provide business solutions. The private sector-led agency works to attract new businesses to the province and help those already in Nova Scotia expand through services such as export development and financing.