A new study has revealed the top U.S. cities for vetpreneurs in 2022.
According to the nonprofit PenFed Foundation, for the second year in a row, Washington, D.C., New York, and Seattle proved to be the top cities for veterans to start their businesses.
"The military community's resilience and entrepreneurial spirit is invaluable for our nation's business sector,” said PenFed Credit Union President/CEO and PenFed Foundation CEO James Schenck.
The study analyzed four main categories for each city, including livability, economic growth, support for veterans, and the ability to start a business.
"We want to help cities across the United States understand which environments are best suited for military veterans to start and grow businesses and inspire city leaders to take the actions needed to support veteran entrepreneurs,” added Schenck.
The study used a custom scoring algorithm based on a robust set of quantitative data from existing PenFed partners and openly available data sources. It also evaluated 390 metropolitan statistical areas.
Related
The top emerging cities, or those that made the most progress since the 2021 study, include Sioux Falls, Tampa, Cincinnati, and Rapid City.
The study also focused on how inflation impacts cities differently. Full study results can be found here.
The PenFed Foundation Veteran Entrepreneur Investment Program (VEIP), which supports veteran-owned startups and businesses through access to networks and capital, conducted the study in partnership with Edelman Intelligence.
Reach Julia LeDoux at Julia@connectingvets.com.
Related
