Brew City ranked as No. 29 in a new report of best cities to start a business.
According to the Milwaukee Business Journal, Inc. Magazine and Startup Genome put together the Surge Cities Index for the first time ever.
Inc. and Startup Genome analyzed the top 50 markets in the U.S. and ranked cities based on seven key indicators: rate of entrepreneurship, high-growth company density, population growth, net business creation, wage growth, job creation and early stage funding deals.
Other than coming in as No. 29 overall, Milwaukee ranked No. 3 for net business creation, No. 8 for job growth and No. 16 in early stage funding deals. The report cited the Fiserv Forum at the center of the city's building boom. It also posed one of the biggest challenges for the city as the "millennial brain drain," meaning young people taking their talents elsewhere in the country.
The top spots to start a business were awarded to Austin, Salt Lake City and Raleigh.