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4/14/08 Just Right for Business
According to KPMG’s 2008 Competitive Alternatives Business
Cost Index released on April 1, 2008, St. Petersburg –Tampa ranked #2 for having the lowest overall business costs among the top 25 major U.S.
Cities. Major cities were defined as those comprised of 1.5 million or more
residents.
The KPMG study measures the combined impact of 27 cost
components which include: tax, labor, facility costs, and the after-tax
cost of startup and operations over a 10 year period. These factors are of
key significance for a business’ decision making process when selecting
where to relocate or expand.
In addition, the region ranked #1 for lowest business costs for
Shared Services, among the top 25 U.S. cities. The region is home to a
significant industry cluster, comprised of 40 shared service operations
that employ over 40,000 workers.
Shared Services environments bridge together common functions
of human resources, finance and information technology, which are
consolidated operations of a business as opposed to spreading these
functions among multiple divisions.
“These rankings demonstrate the important measures of
economic growth and validates the bay area remains very competitive,”
expressed Dave Goodwin, Director of Economic Development for the City of St. Petersburg.
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