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
LaunchKC pivoting from annual grants contest to supporting industry verticals, accelerators
LaunchKC is expected to focus on specific business verticals in 2019 — an effort to bring companies to Kansas City that can fill industry gaps, said Jim Malle. A revamped version of the annual grants competition eventually would grow those verticals into individual accelerator programs, said Malle, business development officer at the Economic Development Corporation…
Cowboy couture: WH Ranch lassos dream of making the ‘best blue jeans in the world’
Ryan Martin sold his best cowboy boots to buy high-quality denim for his western couture brand, said the founder of Kansas-based W.H. Ranch Dungarees. “I was always describing [my product as] ‘custom made’ but ‘couture’ really describes it best,” said Martin, detailing the laborious process that limits production to an average of four pairs of…
Keystone Award forecasts potential job growth thanks to soon-to-open iWerx-Gladstone
A still-in-the-works coworking space already is inspiring economic development north of the river, said Bob Martin, partner at iWerx, bolstered this week by a Keystone Award for business impact. “Before even opening our doors in Gladstone, we had commitments for nearly 30 percent of the more than 75 offices,” Martin said ahead of the entrepreneurial…
Experience unlocked: Aussie pop-up racing into KC in early 2019 with Mushroom Rally
Mushroom Rally — a real life Mario Kart race experience with roots in Australia — is expected to swerve into the Kansas City scene in early 2019, said James Harrison. “[Mushroom Rally] will hit 16 cities [next year], with Kansas City being one of them,” said Harrison, a race organizer for the experience pop-up. “We…