Fredericton Ranked #1 Most Competitive City for Business

March 30, 2016



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Fredericton, NB ranks 1st for Most Competitive City for Business in Canada

Fredericton, NB (March 30, 2016) - As part of KPMG’s Competitive Alternatives 2016 Report, Fredericton has landed top spot for the most cost-competitive city for business in Canada, and third globally among the 111 featured cities. https://www.competitivealternatives.com/

Fredericton highlights include:

  • Fredericton ranks 1st for having the lowest business costs in Canada in 2016. Globally, Fredericton ranks 3rd among all 111 featured cities, behind two Mexican cities in the study.
  • This marks the first time that Fredericton has topped the list of Canadian cities included in Competitive Alternatives. Moving up from 4th among Canadian cities in 2014, low increases in labour costs and reductions in lease costs (especially for industrial) pushed Fredericton past Moncton, Charlottetown and Quebec City.
  • Within the New England/Atlantic Canada region, Fredericton ranks 1st overall with the lowest costs among the 11 cities compared in this region.
  • Fredericton ranks 3rd in total labour costs (including all statutory and benefit costs), within Canada. Fredericton also benefits from having the 4th lowest costs in Canada for purchasing industrial land.
  • The manufacturing and R&D sectors are where Fredericton sees its strongest results, ranking 1st and 2nd respectively among the 17 Canadian cities. In comparison, Fredericton ranks 3rd in corporate services and 5th in digital services.

Larry Shaw, CEO of Ignite Fredericton, commented “The KPMG Competitive Alternatives Study is an important tool used by site selectors and companies scouting new locations as it provides third party, unbiased data.  We anticipate our top placement will generate considerable interest in Fredericton, and will compliment the launch of our new investment attraction tool-kit at Ignite’s June 8th Vision2020 Progress Summit.”

Text from KPMG Competitive Alternatives 2016 Report News Release:

Canada keeps top spot as most cost competitive mature market for business, KPMG study reveals

TORONTO – March 30, 2016 - High value of US dollar gives Canada cost advantage. Fredericton, NB ranks 1st for most competitive city for business in the country

Today, KPMG in Canada released its Competitive Alternatives 2016 report, revealing Canada as the most cost competitive mature market for business. The high value of the US dollar has enabled Canada to maintain its competitiveness and status in the international rankings, despite higher local business costs such as lease costs for downtown and suburban office space and reductions in federal R&D tax credits. The study, which is conducted biennially, looks at more than 100 cities and 10 countries around the world, examining 26 significant business cost elements, including labour, facilities, transportation, utilities and taxes.
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Among 111 cities featured in the study, 17 were Canadian. Fredericton, NB ranks as the most competitive in Canada, having edged ahead of 2014’s leader, Moncton, NB. The study also reveals that all Canadian cities are more cost competitive than any of the US cities featured; and Montreal, Toronto and Vancouver rank among the most competitive major cities worldwide.
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Media Contacts :

Tonique Bedeau
National Manager, Communications
KPMG in Canada
416-777-3241
tbedeau@kpmg.ca

Julie Bellissimo
National Manager, Communications
KPMG in Canada
416-777-3988
juliebellissimo@kpmg.ca

Wayne Knorr
Communications Manager
City of Fredericton
506-460-2005
wayne.knorr@fredericton.ca

Laurie Guthrie
Economic Development & Marketing Specialist
Ignite Fredericton
506-444-4686
laurie.guthrie@ignitefredericton.com