ATLANTA — A new report focused on business across the country names Atlanta as the nation's most business-boosting city.
According to Home Bay, Atlanta was ranked as the best city for startups due to its strong business growth, deep talent pool, and low startup costs.
Atlanta has about 28.5 business apps per 1,000 residents, a 2.5% job growth rate as of November, and nearly 30% of residents have a bachelor's degree, according to regional statistics reported by Home Bay. .
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Home Bay, a real estate analysis site owned by Clever Real Estate, also reported $1.1 billion in venture capital in Atlanta across the metro.
The report said that while Atlanta is home to some “giant companies” such as Coca-Cola Co., Chick-fil-A Co. and Delta Air Lines, young companies make up a large part of the city's economic environment.
“Over the past five years, Atlanta has had the second-highest number of new business applications, at 28.5 per 1,000 residents, nearly double the average U.S. city (14.5),” Homebay said.
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Immediately after the report came out, city officials praised the news.
Atlanta Mayor Andre Dickens said the city was “recognized for its efforts to build inclusive communities that support strong business growth and development.” We are a city of entrepreneurs, innovators, incubators and thinkers, helping to create a city of opportunity for all. ”
City officials also said Atlanta moved up in the rankings, passing Las Vegas from fifth to first place in the latest edition of the 2022 study.
“Businesses start here because we know the power of our talent pool, the strength of our economy, and the potential for growth. We will continue to be a leader in making the world a great place to be,” Dickens said in a statement.
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