Forbes magazine ranked Peoria, IL, No. 47 (above Chicago) out of the largest 150 metropolitan areas for Cost of Doing Business in its annual “Best Places for Business and Careers” feature. Peoria was evaluated on the cost of doing business, cost of living, entertainment opportunities and income growth among several other factors including educational attainment in which the area ranked No. 107 overall.
Forbes.com's seventh annual ranking of Best Places for Business and Careers relies on Economy.com, the West Chester, Pa. research firm, which helps weigh business costs (labor, energy, tax and office space expenses) and living costs (housing, transportation, food and other household expenditures). Economy.com also helps assess the education levels of the work force, as well as job and income growth and migration patterns over the past five years. For quality-of-life issues, crime rates are examined, along with a culture-and-leisure index developed by Bertrand Sperling, a consultant in Portland, Oregon who keeps track of museums, theaters, golf courses, sports teams and the like.
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