March 30, 2010 – Victoria, BC – Victoria was on the podium in terms of offering a competitive business environment according to KPMG’s 2010 Competitive Alternatives report. In all of the Pacific Northwest Victoria was third only to Prince George and Vancouver, losing second place by only 0.8 of a point.
“Third party research like the KPMG report, which investors use to inform their business location decisions, is verifying precisely what we have been telling the world,” says Sasha Angus, Economic Development Officer. “Greater Victoria is a natural place to do business. We can hold our own in competitiveness against any other significant jurisdiction in the province and Pacific Northwest market place.”
The study compares business competitiveness for more than 100 cities in ten countries. The study measures the combined impact of 27 significant cost components that are most likely to vary by location, such as labour, facilities, land, construction, transportation, utilities, and income taxes.
The baseline number used for comparison is that of the US average with other countries and cities measured with costs either above or below that baseline. Victoria’s competitive scale came in at 95.7 while Vancouver was 94.9. Victoria beat other locations like Seattle, Spokane, Portland and San Francisco.
Angus notes, “The Greater Victoria Development Agency was pleased to be a sponsor of the study and provided general information on the major industry sectors in the region”. The number crunching in the study was done independently through KPMG.
The Greater Victoria Development Agency is an industry led organization representing the major industries and academic stakeholders of the region. The GVDA seeks to ensure that Greater Victoria remains a vibrant place to live, work and invest. An important mandate of the Greater Victoria Development Agency is to further strengthen economic conditions throughout our region by encouraging new investment and business from across North America and the world.
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