Valley's prime for startups
Huntsville rates high on list for entrepreneurs. Huntsville and the Tennessee Valley Corridor are hot spots for entrepreneurs looking to start or grow a new company, according to Entrepreneur Magazine.
In its September issue, the magazine ranks Huntsville No. 5 among the nation's small cities when it comes to starting a new business. Two other Alabama cities made the top 10 - Auburn-Opelika is No. 1 and Dothan ninth.
Decatur (39th) and Florence (63rd) are other North Alabama towns on the list.
Alabama is ranked as the third best state for entrepreneurs, following Arizona and Virginia, another Corridor state. Tennessee ranks eighth.
The rankings were compiled for the magazine by the National Policy Research Council (NPRC) which uses an Entrepreneurial Activity Index to measure the best places to start and grow a company. The index has two parts, each dedicated to measuring a key aspect of entrepreneurship:
- Young company rank: Number of companies within an area that started 4 to 14 years ago and have at least five employees today.
- Rapid growth rank: Measurement of a company's job growth that accounts for both absolute and percent change in employment.
"We are pleased that the nation is taking notice that the Tennessee Valley Corridor has become one of America's top ten hot spots for science, technology and new business growth," said Susan Reid, chair of the Tennessee Valley Corridor.
Printed in the Huntsville Times
Friday, September 15, 2006
By WAYNE SMITH