No MO: Kansas City, St. Louis drop off Inc list of ‘50 Best Cities for Starting a Business’
January 6, 2020 | Startland News Staff
Shots fired. A new ranking by Inc. magazine claims startup powerhouse Austin, Texas, is “leading the nation in job creation and high-growth company density — and delish BBQ.”
Kansas City? Not even on the list.
Inc.’s Surge Cities index — detailing what founders can learn from the 50 Best U.S. Cities for Starting a Business in 2020 — totally omitted KC from its latest ranking after putting the City of Fountains at No. 40 in 2019.
St. Louis (ranked No. 33 in 2019) also dropped from the index.
Austin, Texas
The report considered such elements as job creation, population growth, net business creation, rate of entrepreneurship, wage growth, high-growth company density, and early-stage fundraising deals — all areas where Austin excelled, editors said. (The Texas capital city also ranked No. 1 in 2019.)
“Austin is one of the few markets that is able to support a full range of kinds of startups — like Silicon Valley or New York,” said Joshua Baer, the founder of Capital Factory, the city’s dominant startup incubator, in the Inc. report. “It’s because we have a diverse set of strengths in our background.”
In contrast, Kansas City’s business ecosystem is dominated by the health care industry, which accounts four of its top five private sector employers, according to Inc.
Other peer cities on the list: Boise (No. 5); Nashville (No. 11); Oklahoma City (No. 39); Minneapolis (No. 40); Columbus (No. 44); Tulsa (No. 47); Des Moines (No. 48); and Indianapolis (No. 50).
Click here for the full list of Inc.’s 50 Best U.S. Cities for Starting a Business in 2020.
2020 Startups to Watch
stats here
Related Posts on Startland News
Million-dollar corporate gift puts $25M Negro Leagues capital campaign on the board; now you’re on deck
Editor’s note: Bank of America is a financial partner of Startland News, although this report was created independently by the nonprofit newsroom. A historic age of impact is under way, said Bob Kendrick, as Kansas City’s Negro Leagues Baseball Museum unveiled plans for a new, state-of-the art campus backed by a $1 million grant from…
They walked right past us: Small biz owners shocked by low NFL Draft sales, now wary of World Cup
A massive surge in visitors and foot traffic as Kansas City hosted its first NFL Draft failed to score many points outside the event grounds this weekend, as countless small businesses along the city’s urban corridor reported a sharp dip in revenue. “I think we’re all looking at our numbers and everything right now, and…
Scale VC launches Fund II with $5M investment led by UM System, Shelter Insurance
COLUMBIA, Missouri — Venture capital fund and studio Scale VC raised a $5 million round of funding in less than six months, said Brett Calhoun, highlighting the potential for growing a nationally recognized startup city in the middle of the country. “Successful founders are everywhere — and that includes right here in the heart of…
KC-based coffee collective adds two more Midwest brands to its speciality roast portfolio
A pair of Minneapolis-based coffee businesses are expected to add to the aroma of FairWave Collective, said Dan Trott, emphasizing the company’s mission to elevate quality coffee experiences through specialty brands. Folly Coffee Roasters and Philtera Cold Brewed Coffees are the latest Minnesota additions to the Kansas City-based collective’s roast, joining Up Coffee Roasters, which…