Oklahoma City Named Least-Costly City by KPMG StudyPublished: Tuesday, April 17, 2012
OKLAHOMA CITY, March 26, 2012 – Oklahoma City was named the least-costly city to do business among 13 midsized U.S. cities according to a study by KPMG LLP. Oklahoma City had a cost index of 95.5, representing business costs 4.5 percent below the U.S. national baseline of 100.0.
"Oklahoma City's business community already knows what this study reveals: our cost-effectiveness makes this a great place to do business," said Roy H. Williams, president and CEO of the Greater Oklahoma City Chamber. "Across all business sectors, the low cost of living and the availability of business incentives provide a secure environment for businesses to flourish."
The ranking is part of KPMG's 2012 Competitive Alternatives study that compares the economic advantages of 110 cities in 14 countries. The study examined 26 factors, such as labor availability and economic conditions, to provide a glimpse of the business environment in each city.
"While business costs are a major component of the site-selection process, businesses should carefully consider non-cost factors that influence the business attractiveness of different locations," said Hartley Powell, principal in KPMG's Global Location and Expansion Services practice. "Our study addresses these non-cost factors, which include labor availability and skills, economic conditions, infrastructure, innovation, regulatory environment, cost of living and quality of life."
Oklahoma City's cost advantages for labor, facility leases, expenses and low property taxes contributed to its ranking. While Oklahoma City topped the list for midsized markets in the U.S. and Canada (population 1 to 2 million), it also outplaced large market leaders such as Toronto (95.7), Atlanta (96.2), Dallas-Fort Worth (96.5), Houston (97.8) and Chicago (99.3).
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