Just as location plays a vital role in a consumer's decision to set up residence, businesses require a great location to put down their roots. In an effort to determine what businesses were looking for, for their ideal location to set up camp, Fortune Magazine spoke with various development and corporate executives to pinpoint those features that are most appealing. Fortune looked at growth, future plans of city leaders and economic data to determine the best cities for business throughout the world. From west to east, the top 15 cities are:
As a city that boast a productive workforce, according to the Brookings Institution, Salt Lake City's own University of Utah has placed claims of most successful startups. Businesses like Adobe, EBay and Twitter find the low cost of state property and corporate taxes appealing, as well as inexpensive utilities.
Vancouver's prime location and proximity to both Asia and the U.S. make it an appealing location, especially for businesses like Telus, HSBC Canada and International Forest Products. Aside from its bustling and busy film industry, Vancouver is on the verge of being the hub for cutting edge fuel-cell innovation.
Tech companies like Intel, Cisco and Dell have taken up residence in Austin, which draws in startups with its lack of state income taxes. Austin also boasts the first sales for Facebook, outside of Palo Alto. The local music scene is also buzzing with young talent from the University of Texas.
This burgeoning hot spot already has 113 service sector companies located within its city limits. It also houses companies like IBM, UPS and Hewlett-Packard. And features a flourishing modern infrastructure, a strong democracy and an excellent education system.
Call centers are one type of business drawn to Bogota, because of the natives ability to speak clearly, without accents. The city is also quick to incorporate companies and has been ranked No. 2 by World Bank for entrepreneurs. Bogota boasts companies like Citibank, McDonald's and Intercontinental Hotels.
Because of its economic freedom, Santiago is making its mark of the business map. Companies like Nestle, Kodak and Procter & Gamble have set up shop here. Among other things, Santiago produces the largest amount of copper in the world.
Although it is no longer the capital city, it maintains is claim as a top business center. It ships out oil through the city's large port, and is home to companies like Shell, DHL and May & Baker. The local government is eager to work with companies in the private sector, in hopes of building a stronger infrastructure.
This tech savvy community draws in high tech companies like Ericsson, Motorola and Oracle., as well as 700 other tech companies. The companies located here provide their clients with quality products and services.
This city features a young population, with many college age students and houses companies like Daewoo and Coca-Cola. Businesses looking to put roots down here, find the government-backed business loans appealing. There are also low labor and real estate costs. It's central location is also a draw.
Companies like Qatar Petroleum, Doha Bank and Qatargas have settled in this capital city, as it is home to the country's major natural gas and oil companies. Leaders are working to draw in more companies, and hope to do so through their educating a new generation of workers with their satellite campuses, which includes universities like Georgetown and Northwestern.
While pharmaceuticals and chemical manufacturing companies, like Torrent Pharmaceuticals and Bosch Rexroth, it is the textile industry that leads businesses in Ahmedabad. An appealing feature of this city is its literacy rate, which is at 80 percent. Its infrastructure is also quickly growing, which contributes to its steady local government.
This modern city, featuring state of the art hospitals, is also home to several companies who specialize in making technological gear, companies include Nokia, Motorola and Ericsson. Other companies that have taken up residence in Gurgaon are Microsoft and American Express.
Chengdu is home of Foxconn, the manufacturer of Apple iPads. It is also home to other high-tech companies who are drawn to this city for more than its panda sanctuary. Intel, IBM, Cisco and Motorola have all set up shot in this booming Chinese city.
The city powered by Three Gorges Dam is also a major hub for automobile manufacturers. It is also a hot spot for pharmaceuticals and chemical industries. Companies such as Wal-Mart, Deutsche Bank and Mazda have made this city their home.
As Australia's second largest city, it draws businesses in with its diversity in laborers and inexpensive industrial land. It houses Telsta, BHP Billiton and Woolworths. Melbourne has become a hub for developmental research in biotechnology.