Several Indiana communities, including two in Northern Indiana, are among the 162 best small cities in the country to start a business, according to a new ranking released by ChamberofCommerce.org.
“Michigan City offers a more welcoming environment for young upstarts to enter the business arena than large cities,” said Clarence Hulse, executive director of the Economic Development Corp. Michigan City, Ind. “Breaking into the top 100 ranking for 2019 Best Cities for Small Business is exciting. We will continue to improve our business environment by creating a city where people want to live, work, and play.”
The Michigan City-La Porte area ranked 83rd on the list. Indiana had two communities in the top 10 including, Columbus, which was third on the list, while the Elkhart-Goshen area was ninth.
Other Indiana communities that made the rankings include: Terre Haute, 38; Muncie, 107; Kokomo, 108.5; and Bloomington, 118.
Fargo North, Dakota was the top ranked community on the list.
The rankings, which examine metropolitan areas with a population greater than 50,000 but below 250,000, are based on several factors including job creation rates, per capita income, percentage of the young population with a bachelor’s degree or above, median earnings of people ages 25 or older with a bachelor’s degree, unemployment rates and total sales figures/numbers of firms combined into one variable.
The ChamberofCommerce.org rankings note being in specific region of the country does not alone indicate a positive business environment. Geography-independent variables including a young, educated workforce, established industry, and a low unemployment rate are the best indicators.
ChamberofCommerce.org’s findings also show young transplants and new industrial sectors are revitalizing once staid, remote small cities across the Midwest, bringing opportunities along with them.
