Manufacturing Business Startup Cost Comparison
Syracuse, NY vs Chicago, IL
Syracuse, NY
$53,000 - $894,000
COL Index: 86.2
VS
Chicago, IL
$75,000 - $1,229,000
COL Index: 107.8
Detailed Cost Comparison
| Expense | Syracuse, NY | Chicago, IL | Difference |
|---|---|---|---|
|
Licensing & Compliance
|
$2,400 - $15,000 | $5,600 - $15,000 | -16% |
|
Manufacturing Space
|
$5,700 - $113,000 | $19,600 - $391,300 | -71% |
|
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
|
$4,400 - $44,000 | $5,800 - $57,500 | -24% |
|
Sales & Distribution
|
$3,000 - $20,000 | $3,000 - $20,000 | Same |
|
Working Capital (3-6 Months)
|
$12,900 - $172,400 | $16,200 - $215,600 | -20% |
| Total Estimated Cost | $53,000 - $894,000 | $75,000 - $1,229,000 | -27% |
Local Market Factors
| Factor | Syracuse | Chicago |
|---|---|---|
| Cost of Living Index | 86.2 | 107.8 |
| Commercial Rent ($/sqft/yr) | $8 - $18 | $25 - $65 |
| Labor Rate Index | 0.88 | 1.15 |
| Sales Tax | 8% | 10.25% |
| Minimum Wage | $15.00/hr | $15.80/hr |
| LLC Filing Fee | $200 | $150 |
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