‘Best Cities for Business’ - Where Does Providence Rank in New Study?
Monday, December 20, 2010
What are the best cities in America for business? Well, MarketWatch issued a comprehensive study leveraging fourteen metrics. Where does Providence rank?
Not where we would like it. Providence ranked behind a number of its peers even in New England. According to MarketWatch's rankings, Providence scores right in the middle of the rankings nationally and 5th of eight cities regionally. The study ranked 102 cities and Providence ranked 51st.
For Providence the news was good compared to almost all of the California cites that were clustered at the bottom. Traditional business meccas such as Los Angeles ranked 61, Indianapolis (71), Orlando (79), Tampa (80), and last ranked was Fresno at 102.
GET THE LATEST BREAKING NEWS HERE -- SIGN UP FOR GOLOCAL FREE DAILY EBLASTThe study is based on a range of factors: "MarketWatch looks at the concentration of companies from the Fortune 500, Forbes Private Companies, S&P 500, Russell 2000 and a check of businesses from the U.S. Census Bureau. The census figures can be a bit dated; they’re from 2007 but are the most recent available and give the broadest picture of the actual number of companies within a metro area."
The study also utilized GDP from military and tourism as well as personal income amongst the factors.
PHOTO: Courtesy of John Webber
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