CNN Says Entrepreneurship Plays in Peoria
Peoria is ranked the FIFTH best midsized city in the U.S. to launch a small business, according to CNN Money. The recently released article highlights the growth of Peoria's small business sector even during the bad economy. The article explains how more than 100 businesses have graduated from startup mode this year in industries including agriculture, medical device development, and the support-services sector.
Kyle Ham President/CEO of Peoria NEXT says this news helps catapult our efforts to make Peoria a destination for entrepreneurs. “This shows the country that the Peoria area is moving forward in creating a climate for small start up businesses and entrepreneurship and we are a place where startup businesses can easily get connected to the resources needed to advance.”
The CNN Money article also touts the areas affordable housing and commercial real estate and the collaborative effort to create a culture where entrepreneurism can thrive. Kip McCoy, VP/COO The Heartland Partnership and managing director of the Central Illinois Angels says there is a definitely a collaborative spirit in this region to help small business get started and the Central Illinois Angels are a part of it. “We’ve seen 47 individuals step up to be members of this group that will help fund potentially high growth companies in Central Illinois and beyond. This proves our commitment to helping businesses succeed in this region.”
The article acknowledges organizations, such as The Heartland Partnership (the parent company of the Peoria Area Chamber of Commerce), the Central Illinois Angels and regional economic development centers that help small businesses. Sally Hanley, Director of Business Development for the Economic Development Council for Central Illinois says starting a business can be overwhelming but the EDC tries to make it easier by creating a one stop shop for them. “We administer and facilitate financial resources ranging from low interest loans to equity financing for small businesses. We have a variety of resources beyond the financing sector to help new businesses get up and running.”
We rank 15th in the overall best city in the U.S. to launch a small business regardless of population. Click here to read the entire CNN Money article on Best Places to Launch a Small Business and to see who else ranks on the list.