Economic Development Newsroom


Louisville earns high marks for entrepreneurship

Thursday September 25, 2003

 CONTACT: Carmen Hickerson, (502) 625-0204
Thanks to the growth of the local small business community, Louisville made significant strides in Entrepreneur magazine’s 10th Annual Best Cities for Entrepreneurs rankings.

The Louisville metropolitan area finished first in small business growth and 15th overall in the magazine’s survey. The area’s low bankruptcy rating also factored positively for the region.

Other factors used were entrepreneurial activity and job growth.

“This reaffirms my belief that Louisville is a great place to not only to do business but to start a business as well,” said Steve Higdon, president and CEO of Greater Louisville Inc. “What’s happening here is already being noticed by business leaders from across the country. We’re seeing the results of our region’s commitment to entrepreneurship.

“An example of that commitment was housing our Enterprise Corp. with the Greater Louisville Small Business Development Center at the Entrepreneurial One-Stop at 123 E. Main. They work together at the One-Stop with other groups that mentor and support fledgling businesses.

” Overall, Louisville ranked ahead of such notable cities as: San Diego (tied for 16th), Jacksonville (19th), Austin (20th) and Tampa (25th). Of all Midwestern metros, only top-ranked Minneapolis/St. Paul stood higher than Louisville.

Last year, Entrepreneur ranked Minneapolis 15th overall. Louisville came in 33rd in the 2002 rankings.
 
“We know that moving our community forward will require a commitment to building a high-tech economy – the kind of economy that offers its citizens high-skill, high wage jobs,” Mayor Jerry Abramson said. “One of the best ways to do that is by creating and fostering an environment where entrepreneurs can thrive. We still have work to do in making that kind of economy a reality, but the recent rankings by Entrepreneur Magazine strongly demonstrate that we are moving in the right direction.”
 
For more on the rankings: go to: www.entrepreneur.com/bestcities 

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