A newly-released business competitiveness analysis from KMPG ranked Sault Ste. Marie eighth out of 93 North American cities. Published this week, the assessment compared factors such as the cost of commercial land and buildings, transportation and logistics, labour, utilities, and overall operating expenses. A separate ranking out of 23 cities in central Canada and the northeast United States placed Sault Ste. Marie in third spot, behind Quebec City and Barrie.
The Sault Ste. Marie Economic Development Corporation (SSMEDC) participated in the analysis, titled Competitive Alternatives 2016. The SSMEDC now has access to the detailed cost data and assessment, which the organization will utilize as it continues to develop and implement its Invest Sault Ste. Marie strategy, a three-year investment attraction program to enhance economic growth and develop capacity in key sectors to attract new business to the community.
“Having this detailed analysis from KPMG on hand allows our team to better evaluate Sault Ste. Marie’s strengths and challenges in terms of the cost-of-doing-business compared to other major centres,” said Dan Hollingsworth, the SSMEDC’s Executive Director of Business Development. “The assessment shows that our community is cost competitive overall, which will help us as we work to attract additional investment. We also realize there are areas where we can improve, in order to make the Sault even more competitive.”
“The competitive analysis methodology used by KPMG and associated consulting firms will allow Sault Ste. Marie to compare itself against 92 other cities throughout North America, along with 18 cities across the globe, for a broad range of service and manufacturing sectors,” added Nevin Buconjic, the SSMEDC’s Manager of Trade, Investment & Community Marketing. “It is an excellent tool in assessing the community and how it can promote itself, as well as focusing efforts internally on improving its investment attraction capacity.”
KPMG provides audit, tax and advisory services to public and private business, not-for-profit agencies, and public-sector organizations in Canada. More information on its Competitive Alternatives 2016 analysis is available at www.competitivealternatives.com.