It’s no surprise that Arizona cities once again rank overwhelmingly in the bottom one third of an analysis of 2017’s Best Large Cities to Start a Business.
While Tempe is just outside the bottom third, Scottsdale, the most affluent city, ranks the best of Arizona cities in business environment and resource access, 80th and 70th respectfully.
|Rank||City||Total||Business Environment||Resource Access||Business Cost|
With President Donald Trump proposing to slash the corporate tax rate from 35 percent to 15 percent and National Small Business Week in full gear, the personal-finance website WalletHub conducted an in-depth analysis of 2017’s Best Large Cities to Start a Business.
To help aspiring entrepreneurs maximize their chances for long-term prosperity, WalletHub’s analysts compared the 150 most populated U.S. cities across 18 key indicators of startup viability. The data set ranges from five-year business-survival rate to office-space affordability.
|1||Oklahoma City, OK||11||Springfield, MO|
|2||Salt Lake City, UT||12||Raleigh, NC|
|3||Charlotte, NC||13||Lubbock, TX|
|4||Tulsa, OK||14||Port St. Lucie, FL|
|5||Grand Rapids, MI||15||Laredo, TX|
|6||Durham, NC||16||Lincoln, NE|
|7||St. Louis, MO||17||Winston-Salem, NC|
|8||Austin, TX||18||Houston, TX|
|9||Amarillo, TX||19||Orlando, FL|
|10||Sioux Falls, SD||20||Fort Worth, TX|
Best vs. Worst
- Toledo, Ohio, has the lowest average annual rent for office space, $12 per square foot, which is 6.7 times cheaper than in San Francisco, the city with the highest at $80 per square foot.
- Detroit has the lowest labor costs (median annual income), $25,764, which is 4.1 times lower than in Fremont, Calif., the city with the highest at $105,355.
- Brownsville, Texas, has the lowest cost-of-living index, 79, which is 2.5 times lower than in New York, the city with the highest at 201.
- Irvine, Calif., has the highest share of the college-educated population, 66.4 percent, which is 5.8 times higher than in San Bernardino, Calif., the city with the lowest at 11.5 percent.
- Miami has the most startups per 100,000 residents, 237, which is 12.5 times more than in Columbus, Ga., the city with the fewest at 19.