Bizjournals.com ranks Lee among best places to start a small business

Bizjournals.com has ranked the Cape Coral-Fort Myers metropolitan area No. 20 in its list of best places in the U.S. to launch a small business.

Bizjournals used a six-part formula to analyze the nation's 100 largest metropolitan areas, noting population growth between 2002 and 2007, employment growth from 2003 to 2008, small-business growth from 2005 to 2006 and small-business population. Bizjournals defines a small business as any private-sector employer with 99 or fewer employees.

"This ranking helps confirm that Cape Coral is a great place for businesses," said City Manager Terry Stewart. "In addition to the factors cited by Bizjournals, Cape Coral has hundreds of thousands of square feet of available office, retail and industrial space, a large, young and skilled workforce, and the education and training resources of nearby Florida Gulf Coast University, Edison State College and many others."

Compared to other Florida metropolitan areas Cape Coral-Fort Myers scored behind No. 7 Orlando and No. 12 Miami-Fort Lauderdale, but ahead of No. 25 Jacksonville, No. 43 Palm Bay-Melbourne, No. 44 Bradenton Sarasota, No. 51 Daytona Beach, No. 53 Tampa-St. Petersburg and No. 81 Lakeland.

The country's top five rankings went to Raleigh, N.C.; Charlotte, N.C.; Seattle, Wash.; Austin, Texas; and Boise, Idaho.

Cape Coral, the largest city in Southwest Florida, also was ranked No. 1 by INC Magazine in its list of best mid-sized cities for doing business. The Cape Coral Economic Development Office assists existing businesses and recruits new ones, administers incentive programs and conducts global marketing for the city. Visit www.bizcapecoral.com or call 574-0444 or toll-free 866-573-3089.