Cost of Doing Business - Greater Yuma Economic Development Corporation

In ranking the states for the fourth edition of "America's Top States For Business," CNBC scored all 50 on some 40 measures of competitiveness.

States received points based on their rankings in each metric. Then, they separated those metrics into ten broad categories, weighting the categories based on how frequently they are cited in state economic-development marketing materials. That way, their study ranks the states based on the criteria they use to sell themselves.

Cost of Doing Business

Cost is a major consideration when a company chooses a location. Tax burden, which included those on individuals, property, business taxes and even gasoline were looked at. Utility costs can add up to a huge expense for business, and they vary widely by state. The cost of wages and workers’ compensation insurance, as well as rental costs for office and industrial space was also a factor.

Workforce

Many states point with great pride to the quality and availability of workers, as well as government-sponsored programs to train them. States were rated based on the education level of the workforce, as well as the number of available workers. Union membership was also a consideration. While organized labor contends that a union workforce is a quality workforce, that argument, more often than not, doesn’t resonate with business. The relative success of each state’s worker training programs in placing participants in jobs was also looked at.

Transportation & Infrastructure

Access to transportation in all its modes is key to getting your products to market and your people on the move. The vitality of each state’s transportation system was measured by the value of goods shipped by air, land and water. The availability of air travel in each state, and the quality of the roads was also factored in.

Business Friendliness

Regulation and litigation are the bane of business. Sure, some of each is inevitable. The states were graded on both perceptions as well as hard data about their legal and regulatory frameworks.

Cost of Living

The cost of living helps drive the cost of doing business. From housing to food to energy, wages go further when the cost of living is low.

Overall	State	Cost of Business	Workforce	Transportation	Business Friendliness	Cost of Living
1	Texas	30	16	1	19	8
3	Colorado	25	10	36	4	35
8	Utah	7	7	32	10	17
18	Arizona	23	2	23	5	34
32	California	48	31	16	49	49
47	Nevada	37	19	31	15	37

Source: www.cnbc.com

There are many factors to consider when evaluating a region for business investment. The business friendly environment, available labor pool and high quality of life make our region a desirable location. Companies such as ALSCO, Alside, General Motors, Johnson Controls (Fortune 500), Northwestern Industries, Shaw Industries (Fortune 500) and Superlite Block have either built new facilities or expanded their operations due to the abundant labor force, strong support services and strategic location.

The abundant labor force in Yuma and strong support services make it very attractive to new and expanding businesses. The visionary leadership has developed policies and procedures to create a business-friendly attitude in Yuma County. Both the Cities and County act as partners to ensure your business grows and matures. With a population that is projected to reach over 350,000 by 2020, Yuma will continue to produce a strong workforce that excels in a multitude of industries.

Once known solely as an agricultural economy; manufacturing, distribution, food technology and renewable energy have emerged as industries that will continue to fuel Yuma’s economic engine.

*Charts are examples from Manufacturing and Logistics costs from MSA’s that are comparable and/or in competition with Yuma.

Nav: Site Selection