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Report names Texas best southern state for entrepreneurship

by admin on October 4, 2012

Texas is the best southern state for entrepreneurship, according to a report from the University of Nebraska – Lincoln.

This year’s U.S. State Entrepreneurship Index ranks Texas No. 8, up three spots from last year, university officials said in an Oct. 2 statement. Massachusetts ranks No. 1, followed by North Dakota, California, New York and Minnesota.

Economists at the university’s Bureau of Business Research and economics department developed the index. It analyzes five key components: a state’s percentage growth and per capita growth of business establishments, its business-formation rate, its number of patents per thousand residents and its income per nonfarm proprietor in each state.

Texas performed well in the areas of business formation and income per nonfarm proprietor, the university said.

Compared to last year, Utah saw the largest improvement — it climbed from No. 44 to No. 21. Louisiana had the steepest drop, falling from No. 5 last year to No. 50 this year. Six other states — Alaska, Idaho, Kentucky, Oklahoma, South Dakota and Washington — also fell at least 10 spots from last year.

The index uses 2011 data from the Bureau of Labor Statistics, the IRS Statistics of Income Bulletin, the U.S. Census Bureauand the U.S. Statistical Abstract.

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