Media-Centre

Halifax: One of Canada’s Competitive Alternatives according to KPMG Report

FOR IMMEDIATE RELEASE

HALIFAX, NS - March 22, 2012 - KPMG’s 2012 edition of their Competitive Alternatives Report ranks Halifax in a virtual dead heat for most competitive Canadian cities for business.   The report, issued every two years, does comprehensive comparisons of business costs in 110 cities around the world, including major Canadian Centers. 

“Halifax finishes within half a percentage point of two other cities in the Atlantic Provinces and fourth amongst cities in mature markets in the world,” said Fred Morley, Executive Vice President and Chief Economist, Greater Halifax Partnership.  He added, “While Halifax was competitive across all 19 sectors measured, we were most competitive in key sectors like aerospace and defence, precision manufacturing, green energy and digital entertainment.”

These sectors seem to be emerging as a big part of our economic future in here in Halifax.  Costs of doing business here were about 7% below baseline U.S. cost levels and 2% below the Canadian baseline.  Our big competition comes from “high growth” markets in BRIC counties and Mexico that were included in the survey for the first time. 

Canada has remained a strong competitive alternative across a range of sectors compared to the previous survey in 2010.  France, Germany, Italy, Mexico, the Netherlands, and the UK have all seen their relative competitive positions improve.  Costs of doing business jumped in both Australia and Japan compared to 2010. 

Mr. Morley believes this is further proof of Halifax’s strong ability to compete internationally.   “We know that Halifax has one of the most talented workforces in the country; over 2/3 have some post-secondary education and our universities and colleges enrol over 40,000 students annually.  He added, “With  our diverse growth sectors, R & D capabilities, quality of life, and relatively low cost, Halifax really is a great place to live and do business.”

The KPMG survey is the most comprehensive comparison of business costs among cities undertaken anywhere.  The Greater Halifax Partnership was pleased to help sponsor this valuable business tool. 

To view the KPMG report:

1. International summary:
  http://www.competitivealternatives.com/reports/2012_compalt_execsum_en.pdf

 2. Full report:
  http://www.competitivealternatives.com/reports/2012_compalt_report_vol1_en.pdf

For more information or to arrange an interview, contact:

Fred Morley
Executive Vice President and Chief Economist
Greater Halifax Partnership
(902) 490-6043
greaterhalifax.com