The City of Cheyenne ranks as the best business environment for small cities according to www.wallethub.com who released their findings Monday morning on their website.
Overall, Cheyenne ranks fifth amongst 1,261 small-sized cities across the country to start a business based on three key dimensions and a data set of 18 key metrics ranging from average growth in number of small businesses to investor access to labor costs. Cheyenne totaled a score of 57.02 to earn the fifth-place distinction. WalletHub defined small cities with a population between 25,000 and 100,000 residents. To access WalletHub’s full release, click here.
Cheyenne Mayor Marian Orr said of the ranking that she is pleased; her administration has been laser focused on making the experience for new and expanding businesses a positive one. “We are streamlining the permitting process and trying to get government out of the way. My door is always open to developers and entrepreneurs wanting to do business in Cheyenne,” she said. “That’s the great thing about small cities like Cheyenne. You aren’t just a number or an address. You are part of a community and you have greater access to personal support and policy makers than other larger cities.”
Cheyenne was awarded their top business environment ranking based on the following criteria:
Business Environment – Total Points: 50
- Average Length of Work Week (in Hours): Full Weight (~5.56 Points)
- Average Commute Time: Full Weight (~5.56 Points)
- Average Growth in Number of Small Businesses: Double Weight (~11.11 Points)
- Startups per Capita: Double Weight (~11.11 Points)
- Average Revenue per Business: Full Weight (~5.56 Points)
- Average Growth of Business Revenues: Full Weight (~5.56 Points)
- Industry Variety: Full Weight (~5.56 Points)
On Monday, Cheyenne announced that on April 24th the City will introduce their Buildings With A Purpose plan to the public as they compete in the Bloomberg Philanthropies’ Mayors Challenge. The City’s idea looks to catalyze downtown revitalization by matching owners of underutilized commercial properties with entrepreneurs, supported by creative redevelopment incentives and investment opportunities through a dedicated website for matchmaking purposes.
Attendees will be asked to offer feedback as they’re led through storyboards from the perspective of both a downtown building owner and entrepreneur. The storyboards will test the assumptions made by city officials on the process, and obstacles, faced by both parties in redevelopment. The storyboards also incorporate the City’s Buildings With A Purpose plan set to ease those problems.
In addition to the storyboards, the event features a service journey map that explores the idea’s crowdfunding component and the assumption that there exists a demand for social impact investing.
Stakeholder and public feedback throughout the event will serve as a vital resource for city officials to further develop, and refine, their Buildings With A Purpose prototypes. For more information, click here.