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March 15, 2004

Seven New York cities listed among top areas in nation to do business

An entrepreneurship magazine has included seven New York regions on its list of top areas in the nation in which to do business.

The same magazine also named two New York cities among the top 10 worst areas for businesses.

Inc. magazine used job-growth statistics for more than 250 regions to compile its list of the top 75 large, medium, and small business-friendly areas in the nation.

Syracuse and Westchester were named number 14 and 18 on the magazine's list of large metro areas. The magazine also included Nassau/Suffolk County region and Albany/Schenectady/Troy region as numbers 16 and 25 in the medium city category.

Four New York areas were listed among the top 25 small metro areas in the nation. Rockland County was listed as number four, followed by Dutchess (8), Newburgh (18), and Utica-Rome (21).

Two New York cities were rated among the top 10 worst places to do business in the nation. Rochester, number five on the list, was a “huge loser in the manufacturing decline of the past five years,” the magazine noted.

New York City came in at number six on the worst list, followed by San Francisco and Boston. “Pumped up on dot-com steroids, these areas neglected to keep costs down and thought the high-tech/financial service nexus would sustain their growth,” the magazine said.

Cities that ranked the highest were the “kindest” to business in terms of taxes, rents, and environment regulations, the magazine said.

Atlanta, Georgia was rated the number one large metro area in the nation, followed by Riverside-San Bernardino, California. Two Wisconsin cities, Green Bay and Madison, ranked as numbers one and two on the magazine's list of the top 25 medium metro areas in the nation. Montpeilier, Vermont and Missoula Montana are the two best small cities to do business in, according to the magazine.

“More than three-quarters of all new jobs are created by small business, according to the Small Business Administration, so a region showing strong job growth is in all likelihood a hotbed of entrepreneurship,” the magazine said.

To view the complete list, visit www.inc.com/magazine/20040301/top25.html.