Home Bay’s research analyzed a variety of metrics including new business applications, venture capital investment, and employment growth.
ATLANTA — Atlanta has been named the top city for startups in 2024, according to research from real estate website Home Bay. City officials announced Tuesday that the city of Atlanta was also recognized by Black Enterprise Magazine.
According to the city’s announcement, Atlanta has low operating costs for startups, a rich talent pool and a strong community of black entrepreneurs. This recognition came after LinkedIn ranked the Atlanta metropolitan area as the best place to start a business in his 2023.
According to its website, Home Bay provides people with data-driven information about buying and selling homes. The study analyzed a variety of indicators including new business applications, venture capital investment, and employment growth. Atlanta was ranked No. 1 overall. In his 2022 year, the last time this study was conducted, Atlanta ranked No. 5, with Las Vegas taking the top spot.
HomeBay said in a release that HomeBay cites Atlanta as having the second-highest number of new business applications over the past five years, at 28.5 per 1,000 residents, which is higher than the average city in the United States. This is almost double the 14.5% of the previous year. .
Additionally, employment in Atlanta increased by 2.5% compared to 1.7% nationally. City officials said this shows business conditions are strong and that Atlanta offers resources and opportunities for networking and support. In general, Homebay said the city has a track record of growing startups into stable companies.
Atlanta Mayor Andre Dickens said in a release that the city has once again been recognized for its efforts to build inclusive communities that support growing business and development.
“We are a city of entrepreneurs, innovators, incubators, and thinkers who help us create a city of opportunity for all,” Dickens added in the release. “Businesses start here because we know the power of our talent pool, the strength of our economy, and our potential for growth. We want to make this city the best place in the country to raise a family. We will continue to be a leader in the business.And now we are starting.” “
Although Atlanta is listed as the No. 1 city, Florida is considered the best state for startups, as Miami, Orlando, Tampa, and Jacksonville all rank in the top 10.
