Monona East Side Business Alliance: Monona ranks second in best places to start a business in Wisconsin

Media Contact: Kristie Schilling – Executive Director, Monona East Side Business Alliance

Phone: (608) 222-8565 Email:
kschilling@mononaeastside.com

MONONA RANKS SECOND IN BEST PLACES TO START A BUSINESS IN WISCONSIN

Monona, WI – NerdWallet, an online resource for small businesses, conducted a study of 118 Wisconsin cities ranking the best places in Wisconsin to start a business. Monona ranked second in the study following Ashwaubenon. Cities analyzed had to be over 5,000 in population. The overall score for each location was based on its business climate and economic health using data from the U.S. Census Bureau. The results of the study were released on July 13.

The study states, “Surrounded by the city of Madison, Monona boasts the second-highest percentage of businesses with paid employees in the top 10 (over 48%), meaning nearly half of local businesses offer jobs for the community. The town also has the lowest unemployment rate among the top 10 communities, at an impressive 3.3%. The Monona East Side Business Alliance helps businesses in the area succeed. The proximity to the big city means local entrepreneurs can benefit from Madison’s many business accelerator programs, such as Madcelerator and gener8tor, and incubators such as Common Wealth Development.”

Scoring for the study was based on accumulated percentages for the following metrics: business climate, average revenue of businesses, business with paid employees, businesses per 100 people, local economic health, median annual income, median annual housing costs, and unemployment rate. Middleton ranked number 15, McFarland ranked 51, Verona ranked 55, Madison ranked 81, Sun Prairie ranked 92, and Fitchburg ranked 97. Complete details can be found at http://www.nerdwallet.com/blog/small-business/places-start-business-wisconsin/.

Kristie Schilling, Executive Director of the Monona East Side Business Alliance stated, “Monona has numerous assets that make it a very attractive location for businesses—close proximity to U.W. Madison, a central location minutes from the interstate, and close proximity to the airport. The recent redevelopment of Monona Drive has added to the allure of Monona being a prime location. We have an excellent mix of commercial properties at affordable rates and that combined with our ideal location makes Monona very attractive for businesses, particularly start ups.”

The Monona East Side Business Alliance is a private, not for profit, membership-driven organization comprised of approximately 300 businesses, civic organizations, educational institutions and individuals. For more information, visit www.mononaeastside.com or contact Kristie Schilling, Executive Director of the Monona East Side Business Alliance at (608) 222-8565 or kschilling@mononaeastside.com.