washington dc, new york city When Seattle Retains top spot for second year in a row despite economic impact of inflation

TYSONS, VA., October 27, 2022 /PRNewswire/ — Today, the PenFed Foundation, the national 501(c)(3) established by the PenFed Credit Union, released the results of its annual survey of America’s Top Cities for Veteran Entrepreneurs. The PenFed Foundation Veteran Entrepreneur Investment Program (VEIP), which supports veteran-owned startups and businesses through network and access to capital, partnered with Edelman Intelligence to conduct the research.

For the second year in a row, according to the 2022 survey, washington dc, New YorkWhen Seattle It has proven to be the best city for veterans to start a business. Since his 2021 survey by the PenFed Foundation, the top emerging cities that have made the most progress include: Sioux Falls, Tampa, Cincinnati When rapid cityThe study analyzed four main categories for each city, including livability, economic growth, veterans support, and entrepreneurial potential. As countries navigate the economic impact of inflation, the research focused specifically on how inflation affects cities differently. You can read the full survey results here.

“The resilience and entrepreneurial spirit of the military community is invaluable to our nation’s business sector. We are proud to be commissioned by PenFed Credit Union,” said PenFed Credit Union. President, CEO and PenFed Foundation CEO James Schenk“We want to help cities around the world. usa Understand the perfect environment for veterans to start and grow businesses, and inspire city leaders to take the necessary actions to support veteran entrepreneurs. “

“Additionally, since veteran-owned businesses often employ more veterans, supporting veteran entrepreneurs will help the larger military community, which has served as PenFed’s membership base since 1935. We provide jobs and opportunities,” Schenk added.

The top 20 cities for veteran entrepreneurs (changes since the 2021 report) include:

1) Washington –Arlington –Alexandria DC-VA-MD-WV metropolitan area ( – )
2) New York – Newark – Jersey City NY-NJ-PA Metro Area ( – )
3) Seattle – Tacoma – Bellevue WA Metro Area ( – )
Four) Dallas –Fort Worth –Arlington TX Metro Area (+1)
Five) houston – Woodlands – Sugar Land TX Metro Area (+7)
6) Austin –Round Rock TX metro area (+7)
7) Sioux Falls SD metro area (+13)
8) cleveland Elyria OH metro area (-1)
9) Rapid City SD metro area (+12)
Ten) boston –Cambridge-Newton MA-NH Metro Area (-4 )
11) Raleigh North Carolina metropolitan area (-2)
12) Tampa – cent. petersburgclearwater, florida metro area (+12)
13) Madison Wisconsin metro area (+4)
14) Kansas City MO-KS metro area (-6)
15) Minneapolis – cent. Paul-Bloomington MN-WI Metro Area (-9)
16) Chicagonaperville –Elgin IL-IN-WI Metro Area (-12)
17) columbus ohio metropolitan area (-1)
18) Cincinnati, Ohio-KY-IN metro area (+11)
19) jacksonville, florida metropolitan area (-4)
20) McAllenEdinburghMission-TX metro area (+6)

The top four emerging cities for veteran entrepreneurs are:

1) Sioux Falls SD metro area (+13)
2) Tampa-cent. St. Petersburg-clearwater, florida metro area (+12)
3) Cincinnati, Ohio-KY-IN metro area (+11)
Four) Rapid City SD metro area (+6)

To paint a picture of veteran support, city character and entrepreneurial capacity across the United States, the study draws on a robust set of quantitative data from existing PenFed partners and public data sources. A custom scoring algorithm based on was used. 390 metropolitan statistical areas were evaluated.

VEIP has three approaches to creating robust networks for veteran-owned startups and enterprises.

  1. Education through virtual and face-to-face workshops.
  2. Master’s Program, Annual Funding Accelerator, Preparation with Ignition Challenge.When
  3. Investing seed capital, providing access to other capital investment programs, and connecting entrepreneurs and funders.

Since 2018, the PenFed Foundation VEIP has facilitated over 350 veteran-owned startups and helped educate over 4,700 veterans and military spouse entrepreneurs.

To learn more about how the PenFed Foundation works with veteran entrepreneurs, or to donate to the foundation, visit www.penfedfoundation.org.

About the Penfed Foundation
Founded in 2001, penfed The Foundation is a national non-profit organization committed to providing military service members, veterans, and their communities with the skills and resources to achieve economic security and opportunity. Through financial education programs, we provide military personnel, veterans, their families and support networks with the skills and resources they need to improve their lives. home ownership, veteran entrepreneurship, and short-term support.Affiliation penfed The Credit Union, the Foundation, has the resources to effectively reach military communities across the country, build strong partnerships, and engage a volunteer force dedicated to its mission. and funds most operating expenses, demonstrating a strong commitment to the programs the Foundation offers. For more information, please visit the following URL: www.penfedfoundation.org.

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