Tampa near top of list of most cost-friendly business locations
March 31, 2016
Margie Manning | Tampa Bay Business Journal Tampa ranks No. 3 as the most cost-friendly big city in which to do business. Tampa stands out for its low labor costs, including salaries and benefits, KPMG said in a press release about its 2016 Competitive Alternatives study. The study compares 31 large metro areas — those with populations of 2 million or more — across a range of factors related to doing business, including costs associated with taxes, labor, facilities, transportation and utilities. It serves as a valuable benchmark for business executives, economic developers and policymakers considering sites for business operations, said Ulrich Schmidt, managing director in KPMG’s global location and expansion services practice, which helps companies that are expanding, relocating or consolidating facilities. Tampa has a cost index of 94.6, representing business costs that are 5.4 percent below the U.S. national baseline of 100, KPMG said. Cincinnati is ranked No. 1 in the new study, with a cost index of 94, or 6 percent below the national baseline. Orlando is No. 2, with a cost index of 94.4. Miami is No. 8, with a cost index of 95.4. New York ranked in last place, with a cost index of 104.7 percent.