Zug is the most attractive canton for companies
The canton of Zug takes first place in the new Credit Suisse location quality analysis. By lowering corporate taxes, he was able to overtake the canton of Basel-Stadt. Zurich ranks third.
The major bank Credit Suisse has published its location quality indicator for this year. This measures the attractiveness of the cantons from the point of view of companies. The canton of Zug moved up to first place this year and was able to overtake the canton of Basel-Stadt. Credit Suisse explains this with the reduction in corporate income taxes that came into effect at the beginning of 2020. The effective maximum corporate income tax rate in Zug is now 11.91 percent – in the previous year it was 14.35 percent.
Behind Zug and Basel-Stadt, the canton of Zurich follows in the ranking, followed by the canton of Geneva, which has moved up ten places. The fifth place is occupied by the canton of Aargau, the sixth by the canton of Schwyz.
In addition to the tax policy of the cantons, Credit Suisse also includes the availability of highly qualified and skilled workers in its analysis. According to the economists of the big bank, the level of education of the Swiss workforce has risen sharply in recent decades. However, there is a gap between urban and rural areas when it comes to the availability of highly qualified workers. In urban regions as well as in the closer agglomeration areas, over 40 percent of potential employees have a higher education. In the city of Zurich this proportion is even 57 percent.
Credit Suisse not only scrutinized the cantons, but also economic regions. This is because she is of the opinion that consideration at the canton level falls short of the mark, especially in larger, heterogeneous cantons. According to the results, metropolitan areas such as Zurich, Zug, Basel, Baden and Geneva and their agglomerations are among the most attractive regions for companies.