Indy Ranks Among Least Costly Cities for Businesses
Indy Ranks Among Least Costly Cities for Businesses
March 22, 2006 – Paraphrased Article from Indianapolis Star
By: Daniel Lee
Indianapolis could be considered a business bargain.
The Circle City rated as one of the nation's least expensive places in America to do business, according to a study released Tuesday by audit, tax and advisory firm KPMG.
Indianapolis ranked a close third, behind Atlanta and Tampa, Fla., among 23 U.S. cities studied for factors such as labor, facility, transportation and utility costs, as well as income taxes. The most expensive locales were New York and San Jose, Calif.
Indianapolis' ranking was boosted by its lower-than-average costs for land, construction and transportation, because of its central location, according to KPMG's 2006 Competitive Alternatives study.
The KPMG study is the latest in a string of rankings by advisory firms, business magazines and research groups to compare cities and regions on the best places to live, work and do business.
Such recognition could help Indianapolis in the race to retain and lure businesses, said Bruce Kidd, director of entrepreneurship for the Indiana Economic Development Corp. "I think that speaks volumes about the quality of Indiana in many regards."
The U.S. portion of the study rated 23 cities, looking at after-tax startup costs and operations of 12 specific industries over a 10-year span. The industries analyzed included automotive, agri-food, pharmaceuticals and medical devices.
Overall, the Competitive Alternatives study looked at 128 cities in nine countries.
