>Jersey City and Newark — among the 10 most expensive places in the nation to run a company
Jersey City and Newark among most expensive cities to run a business
New Jersey has never been a bargain for businesses, but a new study ranks two of the state’s cities — Jersey City and Newark — among the 10 most expensive places in the nation to run a company.
https://www.nj.com/business/index.ssf/2010/10/jersey_city_and_newark_among_m.html
The pair joins other such pricey towns as New York, Philadelphia, Chicago and San Francisco, according to the 16th annual Cost of Doing Business Survey by Claremont McKenna College in California.
In nearly all of the top 10 cities, a mid-size retailer must pay more than $10,000 a year just for business license fees, the report said.
The study looked at 413 cities across the nation and examined their licensing fees and property, utilities and sales taxes.
Being expensive isn’t a good distinction, especially during a time when struggling businesses might be thinking about relocating, said Brad Jensen, a researcher at the Rose Institute, which conducted the study.
“States that have low taxes usually have a competitive advantage over other states,” Jensen said. “Obviously, there are a lot of factors to consider when moving your business to another state, but in this economy, it could be the thing that tips you over.”
https://www.nj.com/business/index.ssf/2010/10/jersey_city_and_newark_among_m.html
