PROVIDENCE – Providence was ranked the eighth-worst startup city in the U.S., according to recent data compiled by Clever Real Estate.
Data showed Providence has an employment growth of 3.4%, compared with the national average of 3.9%, and 0.73 out of 1,000 people claim the title of CEO. The city also had an average of 3,603 business applications per 100,000 residents in the last five years, compared with the national average of 5,931, and offered a corporate tax rate of 7% and an incorporation fee of $230, according to the data.
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Hartford, Conn., was ranked the worst startup city in the nation with incorporation fees costing $455, compared with the national average of $135.
Boston, Chicago, Pittsburgh, and Buffalo, N.Y., rounded out the bottom five.
Las Vegas was ranked the best city to launch a startup, with the lowest corporate tax rate (0.65%) and the highest employment growth rate in the last 12 months (8.5%). Salt Lake City; Orlando, Fla.; Miami and Atlanta rounded out the top five.
Data from the U.S. Census Bureau, Bureau of Economic Analysis, Bureau of Labor Statistics, UpCounsel, Google Trends, U.S. Patent Office, and the American Legislative Exchange Council Center for State Fiscal Reform was used to determine rankings.
The complete list can be found here.
Well done Jorge, Gina, Stefan, and Dan.