Tuesday, May 2, 2017

St. Louis Is a Top-10 City for Starting a Business

Posted By on Tue, May 2, 2017 at 11:47 AM

If you still think of St. Louis as an old industrial city struggling to get with the times, just shut up already. We're actually "the new startup frontier," per FiveThirtyEight, a "high-tech hub of the Midwest," as noted by CNN, and "one of the best startup cities in the U.S.," according to Popular Mechanics. Last month, in fact, outgoing Mayor Francis Slay hosted the U.S. Conference of Mayors so the slackers who run lesser municipalities could learn the keys to our success.

So, yeah, all these accolades are getting old. But here's one more, if you're the kind of civic booster who just can't get enough: We're also a top-10 city for starting a business.

That latest honorific is according to the folks at Wallethub, who crunched the data to determine that, when it comes to setting a comfortable climate for entrepreneurs in 2017, St. Louis clocked in at No. 7 — and that's out of 150 cities.

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While we didn't place first in any of the eighteen metrics surveyed in the study, we did well across the board, with both low business costs (office space, labor costs, corporate taxes and cost of living) and a high rank for "access to resources" (a substantive amount of venture capital, good access to higher education, and in turn, an educated workforce, and growth in working age population).

Basically: We've got the cheapness of a backwater, with the good universities typically enjoyed by bigger cities. Best of both worlds, baby!

For more on the Wallethub study, check out its website.

We welcome tips and feedback. Email the author at sarah.fenske@riverfronttimes.com

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