Grass Valley among the best for entrepreneurs, study says
Grass Valley’s business community is holding its own with some of Northern California’s biggest and best-known cities, according to a recent study conducted by NerdWallet, a personal finance education and empowerment website.
After analyzing 177 different locations throughout the state, the San Francisco-based company ranked Grass Valley the third best place to start a business in Northern California.
Emeryville and South San Francisco ranked higher than Grass Valley on NerdWallet’s list; the rest of the top 10 was rounded out by Burlingame, Palo Alto, Fremont, Monterey, Los Gatos, Walnut Creek and Mill Valley.
In determining the list, NerdWallet looked at 177 places in Northern California with populations of 10,000 and above and at least 500 businesses that had completed data from the United States Census Bureau’s Survey of Business Owners.
The majority of a city’s score — 65 percent — was based on its business climate, which the site determined by analyzing the average revenue of businesses, the percentage of businesses with paid employees and the number of businesses per 100 people.
The site also considered the local economic health of each city, making that 35 percent of a location’s total score.
To determine a city’s economic health, NerdWallet analyzed median annual income, median annual housing costs and unemployment rate.
According to the site’s data, Grass Valley, with a population of 12,845, has a total of 2,253 businesses and an average revenue per business of $927,948.
More than 43 percent of businesses in Grass Valley have paid employees, and the city has about 17 businesses per 100 people; the unemployment rate in Grass Valley was recorded at 6.3 percent.
The report noted Grass Valley’s “diverse economy supported by tourism and technology” and highlighted its high percentage of businesses with paid employees — the highest rate of any location in the top 10 — and its low median housing costs at $922 — the lowest rate of any location in the top 10.
Truckee also made NerdWallet’s list at number 31. Other nearby cities on the list included North Auburn, ranked 30th, Roseville, ranked at number 50 and Rocklin, ranked at number 100.
To contact Staff Writer Emily Lavin, email email@example.com or call 530-477-4230.
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