The Capital City of Raleigh and the surrounding Triangle area recently earned another career-centric accolade being named second on MoneyRate.com’s list of the 10 Best Cities for Young Entrepreneurs.
The financial and investment information website reviewed cities throughout the nation on four criteria including population growth, young adult affluence, educational attainment, and the tax environment. According to MoneyRate.com, “As much as entrepreneurship centers on the special characteristics of individuals, the broader economic environment also makes a difference in whether start-ups succeed or fail, or whether people even attempt them in the first place.”
Raleigh ranked well on the top 10 list coming in just behind the Austin Metro Area and just ahead of Midland, Texas. No other North Carolina cities made the list.
MoneyRate.com expanded on the City of Oaks’ offerings reporting: “Home to 10 different colleges and universities and part of North Carolina’s famed Research Triangle, Raleigh is well-positioned for creative entrepreneurs. The city is one of the 10 fastest-growing in the U.S. and has the highest proportion of its population holding at least a bachelor’s degree.”
This recognition comes on the heels of a recent report compiled by the JLL commercial real estate brokerage firm, which highlighted the growing rental rates for office properties in downtown Raleigh and Durham. The report demonstrated that skyline office buildings in the downtown districts are marketing vacant Class A space at an average of $28.38 a square foot, a $1.38 higher per square foot than the national average. These downtown properties are increasing in demand due to positive growth trends and the strengthening Triangle economy.
“We’ve seen tremendous business growth and economic development in Raleigh and Durham over the past year,” said David Jones, Coldwell Banker Howard Perry and Walston President and COO. “There’s great momentum in these city centers that draws talented entrepreneurs and the investors who can support them, propelling these new ventures to grow and succeed. Add in the presence of global and national businesses and the career opportunities they offer and it’s clear why there is high demand for residential real estate in the Triangle market.”
Read the complete MoneyRates.com article entitled, “10 Best Cities for Young Entrepreneurs,” here.