Analysis: Raleigh, N.C., top city for veteran entrepreneurs; Austin, Texas second


(The Center Square) – A new report shows the top 20 cities for former U.S. service members looking to start a business.

The report considered and weighed a range of factors, including tax rates, available government contract dollars, inflation, home prices, new business openings, bankruptcies, venture capital deals, business survival rates and financial and relational support for veterans.

The top 20 cities ranked, with their move up or down the ranking noted, are as follows:

Raleigh (+8)Austin – Round Rock (+4)Milwaukee – Waukesha – West Allis (+19)Seattle – Tacoma – Bellevue (-1)Madison (+8)Cleveland – Elyria (+2)Rapid City (+2)Fayetteville – Springdale – Rogers (+37)Kansas City (+5)New York – Newark – Jersey City (-8)Washington – Arlington – Alexandria (-10)Cincinnati (+6)Tampa – St. Petersburg – Clearwater (-1)Houston – The Woodlands – Sugar Land (-9)McAllen – Edinburg – Mission (+5)Sioux Falls (-9)Atlanta – Sandy Springs – Roswell (+5)Columbus (-1)San Antonio – New Braunfels (+4)Chicago – Naperville – Elgin (-4)

The report was conducted by PenFed Foundation, a national 501(c)(3) founded by PenFed Credit Union.

“The military community’s resilience and entrepreneurial spirit is invaluable for our nation’s business sector. That’s why the PenFed Foundation is proud to commission this study for the fourth year in a row highlighting the cities that are making strides to support veteran businesses,” PenFed Foundation President Andrea McCarren said in a statement. “We want to help cities across the United States understand which environments are best suited for military veterans to start and grow businesses and inspire city leaders to take the actions needed to support veteran entrepreneurs.”

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