Vintage commercial sign of a dry cleaning shop in the commercial district of Logan, Utah. Photo by Dan Tiego.
LOGAN – Personal finance website WalletHub recently announced which small cities in America are the best to launch a startup or open a new business, and more than a dozen of those top 30 cities are located in Utah. Six Utah communities were ranked in the top 10, with Southern Utah having a strong representation: St. George is ranked 1st, Cedar City 2nd and Washington 4th. Logan is ranked 5th in the results that consider Business Environment, Access to Resources, and Business Costs.
Logan has recently been recognized as a Best-Performing Small City by the Milken Institute and has having one of the hottest real estate markets in America. In December, the Logan economy was recognized as ‘bulletproof’ by financial cable network CNBC. Also, according to U.S. Bureau of Labor Statistics the Logan Metropolitan Statistical Area has the lowest unemployment rate in America at 2.6%.
Other Utah communities that showed favorable results for starting a business include Midvale (7th), Clearfield (9th), Pleasant Grove (15th), Lehi (18th), Orem (19th), Ogden (21st), Layton (23rd), Eagle Mountain (25th), American Fork (27th) and Tooele (30th).
In neighboring states, Wyoming’s top ranked community for starting a new business is Cheyenne (20th); Idaho’s top ranked community is Moscow (36th); Colorado’s top ranked community is Grand Junction (43rd); Arizona’s top ranked community is Prescott Valley (70th); and, Nevada’s top ranked community is Carson City (229th).
Communities throughout the Rocky Mountains and the west dominate the results, with only eight communities outside of the Mountain or Pacific time zones making the top 30.
The site compared 1,337 cities with populations between 25,000 and 100,000 residents. Overall, 20 key metrics were measured, examining everything from current COVID trends to job growth to startups per capita. Business Environment accounted for 50 percent of the survey data, with Access to Resources and Business Costs evenly split at 25% a piece. Data used to create the rankings were collected from the U.S. Census Bureau, Bureau of Labor Statistics, Federal Deposit Insurance Corporation, AreaVibes, Yelp, Indeed, Tax Foundation, LoopNet, The New York Times and WalletHub research.