A report released this morning by the business analytics firm Wendover ranked Kansas City first in the nation on its Business Growth Index for both 2015 and 2016, beating out competitors like New York, Los Angeles, Chicago, Dallas, and Phoenix. The index is based on more than 2.6million yearly business surveys conducted in the 55 largest U.S. metro areas each year.
For the third quarter of 2016, Kansas City also ranked No. 1 among the 600,000 businesses surveyed, thanks to growth in legal services, healthcare and real estate transaction volumes. “Not only did Kansas City maintain its number one position from 2015, it also increased its growth index score 23.8%” said a release from Wendover announcing the results.
“Across the U.S., the average business growth index increased only 10%,” the release said, yet “with more than double the national rate of growth, Kansas City has the second-fastest growing index in the country. Only Phoenix experienced a greater increase, exceeding Kansas City’s growth by less than 1 percent. Despite Phoenix’s impressive increases, Kansas City doubled the margin by which it holds first place compared to 2015. Kansas City’s growth index score increase shows it is not just home to high-growth companies. The companies in the region have continued to increase their rates of growth, and more fast-growing companies have also been attracted to the city.”