PROVIDENCE – Providence is last on a list ranking the best 150 cities for Hispanic entrepreneurs, WalletHub reported Wednesday.
The report ranks cities on “Hispanic business friendliness” and “Hispanic purchasing power.”
Providence scored poorly on both accounts, ranking last in business friendliness and fourth worst in the nation for Hispanic purchasing power, just ahead of Boston.
New York City ranks second worst overall in the nation for Hispanic entrepreneurs, Philadelphia, third. Boston and Worcester ranked No. 138 and No. 139, respectively.
Of the 21 metrics that the study focused on, Providence ranked third worst in annual- income-adjusted cost of living for Hispanics and tied for worst in Hispanic unemployment rate at 19.5 percent.
Other metrics of the study included share of Hispanic-owned business, Hispanic entrepreneurship rate, affordability, income growth for Hispanics and average monthly rent for office space.
Laredo, Texas, ranked first in the survey, followed by El Paso, Texas; Pembroke Pines, Fla.; and Corpus Christi, Texas.
Data in the ranking came from the U.S. Census Bureau, Council for Community and Economic Research, U.S. Bureau of Labor Statistics, Kauffman Foundation, Federal Deposit Insurance Corporation, Tax Foundation, LoopNet, Thumbtack and WalletHub research. Each sample considers only the city proper in each case and excludes cities in the surrounding metro area.
Chris Bergenheim is a PBN staff writer.
