As a business operator, you know the importance of operating costs on your bottom line. The lower those costs, the faster you can start making a profit.
That’s why you should seriously consider Greater Montréal. It has the major advantage of having the lowest operating costs in North America. According to KPMG’s 2014 Competitive Alternatives study, the metropolis ranks least expensive among North America’s 20 major metropolises. It enjoys a cost advantage in excess of 10% on average for 19 industries. This makes the region particularly attractive for businesses looking to set up and expand in the heart of the North American market.
Highly attractive advantages meet the lowest operating costs in Greater Montréal
Low energy and workforce costs
Payroll and benefit costs for businesses are lower in Greater Montréal than in all other metropolitan areas in North America. Moreover, wages are generally lower in the metropolis itself. The cost of living is also less expensive in the region, so workers’ purchasing power is comparable to those in other major urban areas on the continent.
Greater Montréal also has some of the lowest electricity rates in North America. Hydroelectricity, a clean, renewable source of energy, is abundant and this means that costs are stable and not linked to oil prices. Furthermore, preferred rates for high energy consumers, such as data centres, are available and have even been recently enhanced. No wonder Greater Montréal stands out in numerous high-tech sectors, including video game production, systems testing, international financial services, software development and biomedical R&D.
The cost advantage of Greater Montréal can also be explained by extremely competitive office and industrial space lease prices. This holds true for Class A skyscrapers in downtown Montréal and business and industrial parks in Montréal North and on the city’s South shore.
Greater Montréal is located in a jurisdiction with one of the most competitive business tax regimes for manufacturing and non-manufacturing companies. There are also a number of incentives and tax credits available, many tailored to the needs of high-tech industries.
To help you profit from the economic benefits of Greater Montréal, Montréal International, the metropolis’s economic promotion agency is here to provide you with the support you need for all your expansion projects.