Manufacturing Business Startup Cost Comparison
Duluth, MN vs New York, NY
Duluth, MN
$56,000 - $935,000
COL Index: 93
VS
New York, NY
$104,000 - $1,710,000
COL Index: 187.2
Detailed Cost Comparison
| Expense | Duluth, MN | New York, NY | Difference |
|---|---|---|---|
|
Licensing & Compliance
|
$2,000 - $15,000 | $5,300 - $17,100 | -24% |
|
Manufacturing Space
|
$7,000 - $139,100 | $34,800 - $695,700 | -80% |
|
Manufacturing Equipment
|
$15,000 - $400,000 | $15,000 - $400,000 | Same |
|
Initial Raw Materials
|
$5,000 - $100,000 | $5,000 - $100,000 | Same |
|
Insurance & Compliance
|
$5,000 - $30,000 | $5,000 - $30,000 | Same |
|
Production Staff & Training
|
$4,500 - $45,000 | $7,300 - $72,500 | -38% |
|
Sales & Distribution
|
$3,000 - $20,000 | $3,000 - $20,000 | Same |
|
Working Capital (3-6 Months)
|
$14,000 - $186,000 | $28,100 - $374,400 | -50% |
| Total Estimated Cost | $56,000 - $935,000 | $104,000 - $1,710,000 | -45% |
Local Market Factors
| Factor | Duluth | New York |
|---|---|---|
| Cost of Living Index | 93 | 187.2 |
| Commercial Rent ($/sqft/yr) | $10 - $22 | $40 - $120 |
| Labor Rate Index | 0.9 | 1.45 |
| Sales Tax | 8.875% | 8.875% |
| Minimum Wage | $10.85/hr | $16.00/hr |
| LLC Filing Fee | $155 | $200 |
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