Manufacturing Business Startup Cost Comparison
Virginia Beach, VA vs Chicago, IL
Virginia Beach, VA
$62,000 - $1,032,000
COL Index: 103.8
VS
Chicago, IL
$75,000 - $1,229,000
COL Index: 107.8
Detailed Cost Comparison
| Expense | Virginia Beach, VA | Chicago, IL | Difference |
|---|---|---|---|
|
Licensing & Compliance
|
$2,400 - $15,000 | $5,600 - $15,000 | -16% |
|
Manufacturing Space
|
$10,400 - $208,700 | $19,600 - $391,300 | -47% |
|
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)
|
$15,600 - $207,600 | $16,200 - $215,600 | -4% |
| Total Estimated Cost | $62,000 - $1,032,000 | $75,000 - $1,229,000 | -16% |
Local Market Factors
| Factor | Virginia Beach | Chicago |
|---|---|---|
| Cost of Living Index | 103.8 | 107.8 |
| Commercial Rent ($/sqft/yr) | $16 - $32 | $25 - $65 |
| Labor Rate Index | 1.02 | 1.15 |
| Sales Tax | 6% | 10.25% |
| Minimum Wage | $12.41/hr | $15.80/hr |
| LLC Filing Fee | $100 | $150 |
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