HALIFAX - Four Nova Scotia centres – Pictou County, Truro, Sydney and Halifax ranked among the best sites 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.
Pictou County ranked first among the 39 Canadian centres analyzed. 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.
The Competitive Alternatives report measured 17 industries with cost comparisons based on 27 significant components, such as wages, transportation, utilities and taxes.
Pictou County, Truro, Sydney and Halifax were the only Nova Scotia centres considered in the study.
Nova Scotia centres rated most favourably in the areas of R&D, advanced software development and corporate services, as well as advanced manufacturing and electronics assembly. “As part of our Regional Business Cases, NSBI will build on these sector-specific advantages through our investment attraction activities,” said Mr. Lund.
Despite the rise in the Canadian dollar, Canada held its top position as the most competitive place in the world to do business, with costs averaging 9 per cent lower than regional US counterparts.
KPMG considers its Competitive Alternatives report, released today, to be the most thorough comparison for international business costs ever undertaken by the international business-consulting firm. The report provides essential information for companies seeking a cost advantage in locating business operations. 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. “We’re very proud that Nova Scotia stands out against our global competitors, and we’re pleased that KPMG will be taking this message to key business audiences around the world,” said Mr. Lund.
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.