Business

Raleigh ranked third-best place in U.S. to start business

Posted October 13, 2009 1:22 p.m. EDT
Updated October 13, 2009 1:46 p.m. EDT

— Fortune Small Business magazine ranked the Raleigh metro area as the third-best place in the U.S. to start a business.

Raleigh trailed Oklahoma City and Pittsburgh among large metros in the annual study, which was conducted by the magazine and the Ewing Marion Kauffman Foundation. Charlotte ranked seventh on the list, while Wilmington and Durham ranked 14th and 15th, respectively, among mid-sized metro areas.

The magazine cited relatively low housing costs in the Triangle, the region's climate and accessibility to both the coast and the mountains, Raleigh's downtown revitalization efforts and the local educational and research opportunities.

“Historically, fast-growing small companies have led the U.S. economy out of recession, and according to our latest poll, nearly half of all small-business owners would consider moving if doing so would help their companies," Fortune Small Business editor Jessica Bruder said in a statement. "Location matters more than ever before. The great recession redrew the map of America.”