Business Environment

Waite Park is Among Best Places to Start a Business

San Francisco, CA (June 2, 2015)

NerdWallet, a consumer finance website, has conducted a study to find the best places in Minnesota to start a business - and Waite Park ranked 18th. To determine this ranking, NerdWallet examined 123 places in Minnesota with populations of 5,000 or more and analyzed the following factors:

  • Business Climate
  1. Average revenue of businesses
  2. Percentage of businesses with paid employees
  3. Businesses per 100 people
  • Local Economic Health
  1. Median annual income
  2. Median monthly housing costs
  3. Unemployment rate

Waite Park's Stats

With a population of 6,678, the city has over 500 businesses with high average revenue per business ($1.794,006).  Waite Park also boasts one of the highest percentages of businesses with paid employees on the list (45.43%).

Cities in Top 20

Other cities in the top 20 included Eden Prairie and Arden Hills.

About Nerd Wallet

NerdWallet is a personal finance site for consumers.  Our data-driven tools and content enable consumers to make well-informed decisions across a broad range of financial topics, like buying a home, saving for retirement and starting a small business.