Which Are The Best Cities For Business In Each State?
Starting a new business is very challenging. The rate of failure is high, the competitive landscape is harsh and foreboding, and the demands on the emotional and financial resources of the founders are incredible. Finding the right ecosystem to start and build a business can go a long way toward tilting the odds in your favour, making it easier to survive, develop important relationships, offering you a good quality of life, and tax and infrastructure advantages, among other benefits. Being at the right place can be the difference between success and failure. A lot of time, we talk about the best states to do business, but we seldom talk about the best cities for business in those states. Let’s look at a few examples, based around access to resources, the cost of doing business and overall business environment.
Virginia is one of the great business friendly states in the country. And data suggests that the best city to do business in in Virginia, is Lynchburg. One of the key factors motivating this choice is the low cost of business in this small city. The median household income is $46,409, placing it at number 18 out of 22 of Virginia’s small cities. The unemployment rate is fairly low, at 5.1%, which is one of the lowest of the state’s small cities. It is one of the bigger small cities, with a population of 80,569.
North Carolina is another wonderful state to do business in. Morrisville, a really small city in the state, is renowned for its business environment. The town is fairly well-off, with the median household income standing at $101,738, which is the fourth highest of North Carolina’s 31 small cities. The unemployment rate is very low, at 2.9%, and is one of the lowest in the state. With a population of 26,280, only one city has a population smaller than Morrisville.
A lot of good things have been coming out of Utah. St George is the hidden jewel of the state. St. George’s best feature is its business environment. The median household income is $58,259, which is among the lowest in Utah. The unemployment rate is very low at 2.8%. St. Geroge has a population of 84,500, making it one of the smallest cities in the state.
The great state of Texas has been rising fast over the years as a centre of business, and Georgetown has attracted a lot of interest. The town’s business environment is its biggest selling point. The town has a median household income of $73,822 and an unemployment rate of 5.2%. The town’s population is 71,004, making it one of the smallest cities in the state.
Tennessee is known for its music and for its business-friendliness. Spring Hill is the best city to do business in Tennessee. Like many of the states we have discussed, its overall business environment is its key selling point. Spring Hill has a median household income of $90,778, so it is a pretty affluent city, and one of the wealthiest in the state. The unemployment rate is 3%. Spring Hill has a fairly modest population of 39,711.
At some point, we’ve all had Georgia on our minds. This state’s best kept secret is Carrolton. Carrollton’s strongest selling point is the low cost of doing business in the city. The median household income is $42,942 and the unemployment rate is 3.2%. Carrollton is Georgia’s smallest city, with a population of 26,570.
Minnesota is another great state to do business in and the best city to do business in Minnesota is Moorhead. Moorhead stands out because of its access to resources. The median household income is $60,315, while the unemployment rate is 2.7%. The population is 42,939.
If you’re doing business in Colorado, you can’t get any better than Grand Junction. The city with a beautiful and evocative name is a place whose business environment is key to its attractiveness. Grand Junction has a median household income of $52,504 and one of the lowest unemployment rates in the state, at 6.6%. The population is also one of the smallest, at 62,062.
Washington is a truly exceptional state to do business in and Lacey is a really brilliant place to do business in if you’re in the state. Lacey is well known for the access to resources it provides to startups and businesses in general. The median household income in Lacey is $67,687 and the unemployment rate is 5%. Lacey has a population of 49,248.
Ohio evokes so many memories of Rust Belt economies, but the state is in revival and a wonderful place to do business. Sandusky is Ohio’s best city to do business and this is because of the access to resources that it provides. The median household income is $38,380 and the unemployment rate is among the lowest in the state, at 9%. Sandusky has the smallest population of any city in Ohio, at 24,829.
Michigan is another state that evokes memories of old economies. This is a disservice to a state that is one of the best places to do business in the country. Holland is the best city to do business in Michigan. Holland’s best attribute is its access to resources. It has a median household income of $57,002 and an unemployment rate of 4.7%. With a population of just 33.402, it is one of the smallest cities in the state.
New Mexico is a real up-and-come of a state. I cannot recommend this state enough. If you want to register a business there, just follow this link. The best city to start a business in New Mexico is Carlsbad. Carlsbad’s overall business environment is the best in the state. With a median household income of $69,193, the city is the wealthiest small city in the state. The unemployment rate is 7.4%. At 29,158, the city has the smallest population in New Mexico.
