Ohio lands in top 5 for increased rank in entrepreneurial growth

Ohio experienced a larger resurgence of entrepreneurial growth in the past year compared to other states, according to a new business study.

Among the 25 largest states in the U.S., Ohio moved up to No. 12 in rankings for positive growth of entrepreneurship. Ohio was ranked 16th in the 2015 index. Ewing Marion Kauffman Foundation released its 2016 Kauffman Index of Growth today, which ranks states for entrepreneurial growth by state size and region.

According to the index, five states experienced the biggest increase in rank including Ohio, North Carolina, Alabama, Tennessee and Arizona.

“The fact that 39 states and 34 of the United States’ 40 largest metro areas experienced an increase in growth entrepreneurship holds promise for a return to economic vibrancy,” said Arnobio Morelix, senior research analyst at the Kauffman Foundation.

Growth entrepreneurship data for the 40 largest metropolitan areas was benched marked against national average. Top performers included Nashville, Tenn.; Columbus, and other cities not considered “usual suspects” for start-up growth.

The top five ranked metros were Washington, D.C.; Austin, Texas; San Jose, Calif.; Columbus, and Nashville, Tenn.

Cincinnati was also recognized for cities that experienced the biggest positive shifts in rank. The city moved from No. 35 to No. 16 in rankings for growth.

States with the largest decreases in rank included Mississippi, Wyoming, North Dakota, Nevada and Connecticut.

This is the third consecutive year of entrepreneurial business growth has increased nationwide, indicating that businesses have largely recovered from the Great Recession.