Professional services company, KPMG, has released their Competitive Alternatives study for 2016, called “A Guide to International Business Locations Costs,” which found Lloydminster to be a very cost effective place for business.
Lloydminster Economic Development Corporation (LEDC) sponsored the study to have Lloydminster benchmarked against the United States and compared to the 111 featured cities from across the globe. KPMG found the Border City is a very cost efficient business location and has an overall cost competitiveness advantage of 14.6% relative to the United States. Lloydminster also ranked 12th out of the 22 sponsored communities.
The KPMG study uses the U.S. as a benchmark to measure and provide insight on the impact of 26 key cost components, across 7 business-to-business service segments, and 12 significant manufacturing sectors. As well as the 111 feature cities built-in to the analysis, 22 additional smaller communities were sponsored and included. The full report can be found at competivealternatives.com.
The results of the study are particularly valuable for LEDC, as they will use the findings to highlight Lloydminster as a good place to do business, and hopefully to attract investment in the community.
“It’s great to be ranked cost competitively with peers and being a part of this study provides us with scope and awareness allowing us to better market our community to businesses abroad,” says Ward Read, CEO of LEDC.
KPMG’s report is produced every 2 years and is widely used by site selectors and businesses looking to relocate or expand into new markets.
In addition to the overall ranking, KPMG found that Lloydminster has a cost advantage in all four sectors analyzed: 23.9% in Digital Services, 33.2% in R&D Services, 29.2% in Corporate Services, and 8.8% in Manufacturing.