On October 4th, The Star Ledger had a story about the cost of doing business in Jersey City and Newark which discussed the 2010 Kosmont-Rose Institute Cost of Doing Business Survey:
New Jersey has never been a bargain for businesses, but a new study ranks two of the stateâ€™s cities â€” Jersey City and Newark â€” among the 10 most expensive places in the nation to run a company.
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.
Being expensive isnâ€™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.”