CINCINNATI--(BUSINESS WIRE)--REDI Cincinnati, the regional economic development initiative directed by the Cincinnati USA Regional Chamber, is pleased to announce that Cincinnati has been ranked second in a list of the most cost-friendly business locations among U.S. cities, narrowly following Atlanta. That ranking is according to KPMG, the U.S. audit, tax and advisory services firm.
KPMG’s Competitive Alternatives study, which reflects an in-depth multi-year analysis, serves as a useful benchmark for cities and provides helpful insight for companies considering sites for their business operations. By comparing cities on a number of significant factors that contribute to business operating costs, including labor, taxes, real estate and utilities, companies can determine which markets offer the most advantageous business environment for their business. In 2012, Cincinnati was ranked first in the biennial study.
Along with the slim difference in position between Cincinnati and Atlanta and the fact that both cities improved in their respective cost index, Matt Davis, REDI Cincinnati’s Interim Executive Director, noted the consistency in which Cincinnati remains an ideal place to operate a business.
“Cincinnati continues to have the lowest overall facility costs among the 31 large cities and boasts the lowest property tax costs, and given how close we were, there is certainly nothing wrong being ranked second on a list as prestigious as this,” Davis said. “Over the course of the last two studies, we have been ranked first and second on this list.
“That’s not just momentum, that is sustained momentum,” Davis added.
About REDI Cincinnati:
Regional Economic Development Initiative (REDI) Cincinnati is the first point of contact for businesses interested in growing in or relocating to Cincinnati USA, a three-state, 15-county region with 2.2M residents and 120,000 businesses, including 10 Fortune® 500 companies. In 2013, Cincinnati USA ranked sixth in the U.S. for new/expanded facilities among metros with 1M+ residents. An economic growth engine, REDI Cincinnati is comprised of top business leaders, investors and community partners. REDI Cincinnati is dedicated to attracting new businesses, expanding businesses and drawing top talent within six key sectors. As the JobsOhio Network Partner for southwest Ohio, REDI Cincinnati helped create and retain 16,000 jobs in 2013, representing $571M in capital investment. Discover more at REDICincinnati.com.