CNN Money Ranks Dover, 55th Best Place to Start A Business
CNN Money is always doing this kind of travelogue feature. Today’s is about starting a business. The number one place, according to CNN, to start a business is Bellevue, WA because of its Talented workforce and growing downtown. Bellevue has a population of about 111,000 and a name that describes the place quite well.
The top five are:
Rank, Name, State, Population
1 Bellevue, WA 111,608
2 Georgetown, TX 37,963
3 Buford, GA 13,576
4 Marina del Rey, CA 8,891
5 Bethesda, MD 59,475
I am surprised to see Buford on the list, but the rest are obvious picks.
Regarding Dover, they write:
Population: 36,646
Pros: Quieter and less expensive than surrounding cities; state government provides a stable economy
Con: Too quiet for some residentsThe state capital of Delaware is small, but it’s in easy reach of major cities like Philadelphia, Baltimore and Washington – as well as a long stretch of beautiful Atlantic beaches.
Dover’s pace is slower than that of larger cities, and its cost of living is much lower. Revolutionary War-era history is still evident, especially on Dover’s historic green, where Delaware became the first state to ratify the U.S. Constitution. The Dover Air Force Base is a major local presence. Housing thousands of military personnel and creating significant demand for support services, the base claims to generate $470 million in local economic impact each year.
Delaware is known nationally for its aggressively pro-business tax policies: it has no sales tax, no personal property tax, no business use tax and no inventory tax. As a result, many major U.S. companies are incorporated in Dover. The city has significant resources for small-business owners, with a cluster of city, state and federal offices available for technical assistance, advice and loan programs. -Elizabeth Bland
While Delaware is a tax haven, of sorts, for corporations, it is certainly not a tax haven for its citizens. CNN Money also ranked the top seven tax havens and Delaware did not make the list. The top seven are Wyoming, Nevada, Florida, Texas, Washington, New Hampshire and Tennessee.
Despite the efforts of the University of Delaware and the Delaware Technology Park, Delaware did not make the list of five places that Biotech thrives either. The five listed by CNN are Durham, NC, Worcester, MA, Oro Valley, AZ, Kansas City, MO and Rochester, NY.