#2 Nationwide for Favorable Business Costs, as ranked by Wallethub
A new ranking of large cities in the US finds Winston-Salem one of the best cities to start a business. Winston-Salem is #15 overall on the 2024 ranking issued by WalletHub, and #2 for business costs.
The ranking compares 100 US cities with a population of 100,000 or more, examining the business environment, access to resources, and business costs. Metrics analysed within the business costs category include the costs of office space and labor, corporate taxes, and the cost of living.
“We are pleased to see this new ranking which underscores our efforts to support and build resources for local businesses,” says Mark Owens, President and CEO of Greater Winston-Salem, Inc. “We continue to work with business owners and community partners to make Winston-Salem the best place to start and grow a business. Notably with this ranking, Winston-Salem is “small but mighty”, with a smaller population than other top-ranking cities. As a mid-sized city, our performance stands out.”
Office rent is maintaining affordability in Winston-Salem, with a 1.4% increase within the past 12 months. Winston-Salem’s cost of living remains below the national average at 92.8.