Manufacturing Business Startup Cost Comparison
New York, NY vs Chicago, IL
New York, NY
$104,000 - $1,710,000
COL Index: 187.2
VS
Chicago, IL
$75,000 - $1,229,000
COL Index: 107.8
Detailed Cost Comparison
| Expense | New York, NY | Chicago, IL | Difference |
|---|---|---|---|
|
Licensing & Compliance
|
$5,300 - $17,100 | $5,600 - $15,000 | +9% |
|
Manufacturing Space
|
$34,800 - $695,700 | $19,600 - $391,300 | +78% |
|
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
|
$7,300 - $72,500 | $5,800 - $57,500 | +26% |
|
Sales & Distribution
|
$3,000 - $20,000 | $3,000 - $20,000 | Same |
|
Working Capital (3-6 Months)
|
$28,100 - $374,400 | $16,200 - $215,600 | +74% |
| Total Estimated Cost | $104,000 - $1,710,000 | $75,000 - $1,229,000 | +39% |
Local Market Factors
| Factor | New York | Chicago |
|---|---|---|
| Cost of Living Index | 187.2 | 107.8 |
| Commercial Rent ($/sqft/yr) | $40 - $120 | $25 - $65 |
| Labor Rate Index | 1.45 | 1.15 |
| Sales Tax | 8.875% | 10.25% |
| Minimum Wage | $16.00/hr | $15.80/hr |
| LLC Filing Fee | $200 | $150 |
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