OTTAWA - For the third year in a row Canada has been ranked as the top cost-competitive industrial country, according to a study conducted by the management consulting firm KPMG. The study, Competitive Alternatives Comparing business costs in North America, Europe, and Japan, was sponsored by 45 economic development agencies in Europe and North America.

"The KPMG study shows that Canada is still the low-cost leader among industrial nations," said International Trade Minister Pierre Pettigrew. "As the overall lowest-cost country for conducting business, Canada offers distinct and compelling advantages to those global firms seeking the best location to establish or expand their operations."

Details of the study provide comparative after-tax costs of starting up and running a business for 10 years. Labour, tax, transportation, energy, and facility costs were all accounted for. Canada averaged 14.5 per cent higher in cost savings for international investors over the United States.

"Canada has created one of the most attractive investment climates in the world," said Industry Minister Alan Rock. "When international investment comes to Canada, it means Canadian jobs and stronger Canadian communities."

The study is available at www.competitivealternatives.com. The site also offers an interactive costing model that will determine the impact of fluctuating exchange and interest rates.

 

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