Houston named one of the best places in America to start a business
As originally posted on Houston Business Journal.
Want to start a business? You’re in a good city.
Houston ranked No. 6 on CNBC’s new ‘America’s Best Places to Start a Business’ list.
Affordability, low unemployment, diversity and prevalence of Fortune 500 companies — along with NASA’s Johnson Space Center and the Texas Medical Center — are some of the reasons the Bayou City ranked high on the list.
For its inaugural ranking, CNBC considered 20 factors, from regulatory climate to the skill of its workers, in the nation’s 107 largest metros and pulled data from government and private sources.
- Overall ranking: 860 out of 1,500 points
- Environment for success: 339 out of 500 points
- Cost of doing business: 241 out of 400 points
- Quality of life: 71 out of 300 points
- Labor force: 129 out of 200 points
- Diversity: 80 out of 100 points
The only other Texas city to jump ahead of Houston in the rankings was Austin, which landed the top spot on the list. The Texas capital was lauded for its entrepreneurial bent, the quality of its labor pool and its booming population.
In total, Texas landed six cities on the list, the most of any state. Dallas lagged behind Houston, grabbing the No. 8 spot. San Antonio ranked No. 10, McAllen snagged No. 12, and El Paso wound up No. 16.
Houston recently ranked as fourth-best city in the U.S. for young entrepreneurs. Austin, again, took No. 1.
Last month, Texas ranked No. 2 on CNBC’s “Top States for Businesses” list again.
Jack Witthaus produces digital content for the Houston Business Journal’s website and social media accounts. Follow him on Twitter.