Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
This is nothing to brag about btw--businesses should not be shut out of places like NY and SF because of cost
We are experiencing a boomlet in the Bay Area economy right now, all over the region things are looking up and even frenzied in some places. Imagine if it wasnt so cost prohibitive to do business here, we might be experience a bonafide boom.
PS This ranking done by KPMG is by MSA(Metropolitan Statistical Area)
Location: Cleveland bound with MPLS in the rear-view
5,509 posts, read 11,884,604 times
Reputation: 2501
So based on the ranking, I don't necessarily see a correlation between cost of business (COB) and growth or success......or am I misconstruing the data?
Location: Cleveland bound with MPLS in the rear-view
5,509 posts, read 11,884,604 times
Reputation: 2501
Glad to see Minneapolis middle of the pack, considering it's often lauded as an "expensive" place to run a business, which supposedly scares off potential suitors to lower-cost cities such as highly-ranked Atlanta or Dallas. Now I see that things such as high tax rates are not the only factor to consider.
You've got to be able to balance tax rates with the human, physical, and cultural infrastructure of the city. This is why SF and NYC can have tax rates and regulations out the whazoo and still come out ahead--when it comes to certain industries, you just can't beat the talent that's found there.
Oh well, NYC and SF are amongst the richest places on the planet. They're not exactly hurting.
Big/expensive/wealthy areas in the USA are always difficult to do business in. But no matter how expensive, talent and money will continue to flock. The cities at the bottom have been cheap to do business with for decades yet they still can't attract wealth...
Big/expensive/wealthy areas in the USA are always difficult to do business in. But no matter how expensive, talent and money will continue to flock. The cities at the bottom have been cheap to do business with for decades yet they still can't attract wealth...
I don't think that's entirely accurate. When you look at metrics like household and per capita income, a couple of the cities on the lower end of costs have experienced significant gains over the years. They'll probably never produce millionaires and billionaires at the rate of the Bay Area or NYC, but that doesn't mean they can't attract wealth.
I don't think that's entirely accurate. When you look at metrics like household and per capita income, a couple of the cities on the lower end of costs have experienced significant gains over the years. They'll probably never produce millionaires and billionaires at the rate of the Bay Area or NYC, but that doesn't mean they can't attract wealth.
Agreed Houston and DFW are two perfect examples of this; with slightly increasing cost they are far outpacing in terms of wealth generation and per capita metrics. TX really has it going on on this front
What's interesting about Dallas and Miami is that they likely will pass up LA on the billionaire race and still remain one of the cheaper options for businesses. That's the same advantage I see it having over rival Houston and mammoths of CHICAGO or LA
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
