The folks at the Greater Victoria Development Agency (GVDA) recently sponsored a KPMG study that found that Greater Victoria is competitive for knowledge-based industries. Here’s a link to KPMG Competitive Alternatives 2012 Executive Summary.

In the “Casadia” region, which includes Seattle, Portland and Vancouver, Greater Victoria was cited as being in the top five places in which to do business, separated from first place by only 0.9 of a point. The study measured the combined impact of 26 significant cost components that are most likely to vary by location, such as labour, facilities, land, construction, transportation, utilities, and income taxes. The study further refined the data to focus the cost results by industry.

Greater Victoria placed first among the five communities in cost-competitiveness in such fields as software design, research and development, and digital industry. It places second in electronics assembly and manufacturing.

The baseline number used for comparison is that of the US average with other countries and cities measured with costs either above or below that baseline. Victoria’s competitive scale came in at 97.4 while Vancouver was 96.5. Greater Victoria handily beat other locations like Seattle, Spokane, Portland and San Francisco.

The Comparison tables can be found on the web here.

As we all know, the tech industry in Victoria is strong, and is predicted to continue to grow by double digits. According to VIATeC, by the end of 2011 total revenues of the top 25 tech companies in Victoria had grown to $820 million in 2011, a five per cent increase over 2010. The median revenue figure for companies on the list is now at $16 million, up from $15 million last year and $11.5 million five years ago.

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