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Fredericksburg Ranks 9th In The Nation For Startups Top 100 For Quality Of Life
Fredericksburg is among the top 10 cities nationwide for entrepreneurs to “be successful and enjoy life,” according to a list that is the cover story of August’s Entrepreneur magazine.
Fredericksburg ranks ninth in “The 50 Best Cities for Entrepreneurs.” The ranking shows “there’s life for entrepreneurs outside New York and San Francisco,” and uses data from Livability.com, which studies small and midsize cities.
“You’ve come to the right city if you’re an entrepreneur looking to advance your idea or company,” the list said, citing entities in place to assist startups including Fredxchange and the Fredericksburg Economic Development Authority.
The list takes into account a city’s number of businesses and employees, number of VC deals in the last decade, business tax rate, value of SBA and 7(a) loans, percentage of college-educated locals, cost of living, commute time, access to high-speed internet, income and population increase.
Chris Pilny, of Livability.com, said Fredericksburg—one of the smaller cities on the list—had both a 7 percent business and employment growth between 2011-2015, propelling it to the top.
The unemployment rate—3.8 percent when the list was compiled—falls well below the national and Virginia averages.
He said where Fredericksburg blows the other cities out of the water, though, is in the number of venture capital deals over the past few years, with 600. He said only five other cities out of the 50 either equaled or exceeded that amount.
Fredericksburg also had the most affordable housing on the list, as well as some of the lowest transportation costs.
“Combine that with the fact that the city had the highest growth of high-wage jobs on the list, plus a multitude of other quality-of-life amenities, and it falls easily at the number 9 position,” Pilny said.
Livability doesn’t just think Fredericksburg is a great place for entrepreneurs. In another recent list it ranked 92 out of the top 100 American cities for 2016 in terms of quality of life, as well.
That’s primarily due to the location, with its proximity to the federal government and government contractors “the amount of technology talent is incredible, there are more talented software and program developers here than in Silicon Valley,”
The number of college-educated locals and the value of our local Small Business Development Center also cannot be underestimated in the equation for entrepreneurial success.
source: Fredericksburg.com / The Free Lance Star
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