Golden Valley ranks first in Minnesota.
While a recent study ranked Minneapolis and St. Paul as poor places to start a business, another report suggests their suburbs may be just the place for new companies.
An analysis from personal finance website NerdWallet ranked Golden Valley as the top spot in the state to start a business. Just behind it were the suburbs of Minnetonka, Edina, Eden Prairie, Roseville and Little Canada. Rounding out the top ten: Thief River Falls, Rogers, Mendota Heights and Alexandria.
Golden Valley was singled out for its high revenue per business and unemployment rate of just 3 percent.
The study included 123 Minnesota towns with at least 5,000 people and 500 businesses. It factored in: average revenue of businesses, percentage of businesses with paid employees, businesses per 100 people, median annual income, median annual housing costs and unemployment rate.
