Which Countries Have Lowest Business Costs?
According to the 2016 Competitive Alternatives report from KPMG, the United States has dropped to 10th place for lowest business costs — the only time the U.S. has ever placed this low in Competitive Alternatives rankings.
Q2 2016
Two other NAFTA members rank first and second. As the only high-growth (emerging) country included in the study, Mexico represents the lowest-cost country examined. In 2016, Mexico’s business cost advantage over the U.S. stands at 22.5 percent, higher than at any point in this decade. And Canada maintains its second place rank among the 10 countries, with business costs 14.6 percent below the U.S.
Area Development’s ranking of the site selection factors from its 2015 Annual Corporate Survey is also highlighted in the Competitive Alternatives report. It’s noted that nearly half of the ranked site selection factors have direct implications on the cost of business, including labor costs, corporate tax rates as well as tax exemptions and state and local incentives, available land and buildings, energy availability and costs, and inbound/outbound shipping costs.
Project Announcements
PEAK Precision Manufacturing Plans Bowling Green, Kentucky, Operations
07/26/2024
Italy-Based Sipcam Agro USA Upgrades Wayne County, Mississippi, Operations
07/26/2024
Cleveland-Cliffs Plans Weirton, West Virginia, Operations
07/26/2024
IDEXX Laboratories Plans Wilson, North Carolina, Production Operations
07/26/2024
Germany-Based Ritz Instrument Transformers Plans Waynesboro, Georgia, Operations
07/26/2024
AirJoule Plans Newark-Wilmington, Delaware, Operations
07/26/2024
Most Read
-
19th Annual Area Development Gold and Silver Shovel Awards
Q2 2024
-
2023's Leading Metro Locations: Hotspots of Economic Growth
Q4 2023
-
2023 Top States for Doing Business Meet the Needs of Site Selectors
Q3 2023
-
The CHIPS and Science Act will bring jobs back to the United States
Q2 2024
-
2023 Top States Commentary: Top-Ranked States Have What It Takes to Win Mega Projects
Q3 2023
-
The Bring Your Own Energy (BYOE) Party Is Starting
Q2 2024
-
Midwest becomes hotspot for semiconductor manufacturing and supply industries
Q2 2024