Fredericton ranks as top competitive Canadian city for business: KPMG
New Brunswick’s capital city is the tops in the country for business, according to a new report from KPMG.
The Competitive Alternatives 2016 report found that as a country, Canada places second as a cost competitive market for business, behind only Mexico. The report examines 26 business costs elements, including labour, facilities, transportation, utilities and taxes.
“Over the past year, the weakening Canadian dollar and its potential impacts on the future of our economy have caused concern among Canadians,” said Greg Wiebe, Partner, KPMG, in a statement.
“This study sheds light on a more positive outlook, highlighting that the high value of the US dollar has actually been a driver in improving Canada’s competitiveness and overall cost advantage. While we wait to see where our economy is headed, this study continues to demonstrate Canada’s position as a cost competitive location for business.”
Among 111 cities featured in the study, 17 were Canadian. Fredericton, NB ranks as the most competitive in Canada, having edged ahead of 2014’s leader, Moncton, NB. The report cites Fredericton’s low increases in labour costs and reductions in lease costs (especially for industrial) as key reasons to its top tanking.
The study also reveals that all Canadian cities are more cost competitive than any of the US cities featured; and Montreal, Toronto and Vancouver rank among the most competitive major cities (population exceeding 2 million) worldwide.
The full report is available online. (PDF)
LaBarge Weinstein LLP is proud to have worked with businesses throughout New Brunswick, including Fredericton. Contact us today if you’d like to find out more about how we support businesses across the country.