We're more competitive than Toronto and New York City, but worse than Moncton and Barrie

Sault Ste. Marie fares well globally, but gets beat by 7 of 16 Canadian cities that were included in a recently-released study on the business competitiveness of cities around the world.

Sault Ste. Marie was among a number of 'featured' North American cities included in the KPMG report, ranking 8th overall behind Fredericton, Moncton, Charlottown, Quebec City, Barrie, Halifax, Winnipeg, and ahead of Montreal, Saskatoon, Toronto, Edmonton and Calgary.

The rankings, which are billed as a guide to global businesses looking to relocate, do not include other Northern Ontario cities such as Sudbury and North Bay.

Cities were ranked in terms of their competitiveness relative to a U.S. baseline of 100. 

The Sault scored 85, making it slightly less competitive than Barrie (84.2) and slightly more competitive than Toronto (85.6), while nearby Saginaw, Michigan and Detroit scored 94.7 and 96.8 respectively.

New York City scores above the U.S. baseline at 104.7, while Mexico City rings in at 78.6.

The study, which is available here, notes the rise in the value of the U.S. dollar last year "has greatly impacted the global business landscape, significantly constraining US competitiveness."

The Sault scores best against the U.S. baseline when it comes to research and development (68.2) and corporate services (68.8), but scores 91.3 when it comes to manufacturing competitiveness. Toronto scores 90.4 when it comes to manufacturing.

Sault Ste. Marie Economic Development Corporation is listed in the report as one of its 'silver' sponsors.

The following is a news release from the Sault EDC:

*************************
SAULT STE. MARIE — 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/cities/necc.aspx. 

About the Sault Ste. Marie Economic Development Corporation (SSMEDC)

The SSMEDC works to attract new firms and investment to the community. Examples of external companies the organization has worked with over the past decade include Arauco/Flakeboard, JD Aero, KKR/Starwood Energy, Canadian Bank Note, Heliene Canada, Sutherland Global Services, Ellsin Environmental, Pollard Banknote and Agero. The SSMEDC also assists local entrepreneurs – current and aspiring – in their startup and growth projects. Between 2010 and 2015, the organization’s activity generated 194 business startups and expansions, which led to more than 1,700 jobs being created or retained. For more information, visit www.sault-canada.com.

*************************