Manufacturing Business Startup Cost Comparison
Paterson, NJ vs Chicago, IL
Paterson, NJ
$66,000 - $1,012,000
COL Index: 104.6
VS
Chicago, IL
$75,000 - $1,229,000
COL Index: 107.8
Detailed Cost Comparison
| Expense | Paterson, NJ | Chicago, IL | Difference |
|---|---|---|---|
|
Licensing & Compliance
|
$8,400 - $36,200 | $5,600 - $15,000 | +117% |
|
Manufacturing Space
|
$8,300 - $165,200 | $19,600 - $391,300 | -58% |
|
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
|
$5,100 - $51,000 | $5,800 - $57,500 | -11% |
|
Sales & Distribution
|
$3,000 - $20,000 | $3,000 - $20,000 | Same |
|
Working Capital (3-6 Months)
|
$15,700 - $209,200 | $16,200 - $215,600 | -3% |
| Total Estimated Cost | $66,000 - $1,012,000 | $75,000 - $1,229,000 | -17% |
Local Market Factors
| Factor | Paterson | Chicago |
|---|---|---|
| Cost of Living Index | 104.6 | 107.8 |
| Commercial Rent ($/sqft/yr) | $12 - $26 | $25 - $65 |
| Labor Rate Index | 1.02 | 1.15 |
| Sales Tax | 6.625% | 10.25% |
| Minimum Wage | $15.49/hr | $15.80/hr |
| LLC Filing Fee | $125 | $150 |
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