Manufacturing Business Startup Cost Comparison
Gary, IN vs Chicago, IL
Gary, IN
$51,000 - $874,000
COL Index: 81.5
VS
Chicago, IL
$75,000 - $1,229,000
COL Index: 107.8
Detailed Cost Comparison
| Expense | Gary, IN | Chicago, IL | Difference |
|---|---|---|---|
|
Licensing & Compliance
|
$2,000 - $15,000 | $5,600 - $15,000 | -17% |
|
Manufacturing Space
|
$5,400 - $108,700 | $19,600 - $391,300 | -72% |
|
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
|
$3,800 - $37,500 | $5,800 - $57,500 | -35% |
|
Sales & Distribution
|
$3,000 - $20,000 | $3,000 - $20,000 | Same |
|
Working Capital (3-6 Months)
|
$12,200 - $163,000 | $16,200 - $215,600 | -24% |
| Total Estimated Cost | $51,000 - $874,000 | $75,000 - $1,229,000 | -29% |
Local Market Factors
| Factor | Gary | Chicago |
|---|---|---|
| Cost of Living Index | 81.5 | 107.8 |
| Commercial Rent ($/sqft/yr) | $7 - $18 | $25 - $65 |
| Labor Rate Index | 0.75 | 1.15 |
| Sales Tax | 7% | 10.25% |
| Minimum Wage | $7.25/hr | $15.80/hr |
| LLC Filing Fee | $95 | $150 |
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