Salt Lake City Named #2 Best City In America To Start A Business

If you live in Salt Lake City, you have probably noticed by now the amount of construction and cultural growth happening all over the city. 

Not only is SLC a relatively young city that is finding its place in the country's progress economy, it is home to enormous business development and entrepreneurship. A recent analysis posted by Inc. magazine online named Salt Lake City #2 out of 50 "best cities to start a business."  Also known as Surge Cities, the list took many factors into account for its analysis, including:

  1. rate of entrepreneurship
  2. population growth
  3. net business creation
  4. wage growth,
  5. job creation
  6. growth company density

 

Sharing the list with artistic cultures like Austin, TX and Nashville, TN, as well as other burgeoning cities like Raleigh, NC, and Detroit, MI, Salt Lake City is becoming a hub for creative entrepreneurs. So much so that the University of Utah has an entire building dedicated to entrepreneurial studies, a full suite of workshops and entrepreneurial support events, as well as an intensive summer program intended to push students' startup ideas into hyperdrive such that they have an operable business model, brand strategy, and marketing plan by the end of the summer vacation. 

 The report cites huge companies like Adobe, Electronic Arts, Oracle, and Ancestry.com, among others, that have offices here. Salt Lake City has become another Silicon Valley in itself due to the fact that the cost of living - though steadily rising due to demand and population growth - is still substantially lower than other big cities in America. Those entrepreneurs looking to escape the high prices of places like San Francisco and Los Angeles do not have to look too far away. Though nestled privately between two mountain ranges, Salt Lake City is still an easy plane ride from California for those who would rather set up shop on a budget.

The emergence of so many coworking spaces in Salt Lake City is no coincidence. The influx of entrepreneurs, freelancers, remote employees, as well as university graduates who decide to stay local upon graduation requires new and affordable options to call "office" as they all pursue their various ventures. 

The symbiotic relationship between the human demand for space and the consistent creation of offices and coworking spaces prove that Salt Lake City's expansion is no where near slowing down.