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Rochester ranks No. 48 among best cities for startups

Rochester Business Journal
March 19, 2014

Rochester entrepreneurs should take heart. The metro area ranks in the top third of cities nationwide for startup opportunities, according to a report by WalletHub.

The 2014 Best Cities to Start a Business report ranked Rochester 48th among the nation’s largest 150 metropolitan areas. Buffalo ranked 58th among cities nationwide, while the Syracuse metro area was not listed.

WalletHub—a social website launched by Evolution Finance offering tools and information for consumers and small business owners to make better financial decisions—analyzed startup opportunities in 14 key areas to determine which cities were most and least entrepreneur friendly.

The organization looked at access to financing, cost of office space, corporate taxes and employee availability, among other things. Jacksonville, Fla. ranked first on the list, while Oakland, Calif. ranked last.

Rochester has among the lowest annual salaries, averaging $42,455, behind only Detroit, Mich., Cleveland, Ohio and Hialeah, Fla.

Moreno Valley, Calif. has the fewest businesses per capita at 0.61, while the cheapest office space can be found in Cape Coral, Fla. The highest educated workforce is in Irvine, Calif., while the lowest cost of living is in Laredo, Texas.

The full report can be found at WalletHub.com.

(c) 2014 Rochester Business Journal. To obtain permission to reprint this article, call 585-546-8303 or e-mail service@rbj.net.
 


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