The Twin Cities is one of best metro areas for startups

It placed 3rd on the Business.org rankings.
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The Twin Cities are one of the best breeding grounds for young entrepreneurs and start-up businesses.

That's according to Business.org, which has compiled the rankings based on Census data and the Kauffman Index’s 2017 Growth Entrepreneurship report.

Minneapolis-St. Paul ranks behind only San Francisco and Austin, with the rankings determined using factors including the young adult population, access to higher education, rental costs and employment levels.

The website says the Twin Cities scores particularly highly in the "start-up growth" category, with the metro area seeing the biggest increase in start-ups out of any metro area in the top 10.

This stat comes from the Kauffman research, which shows that between 2009 and 2014, the start-up creation rose by 121.3 percent in the metro area.

The same study shows that the rate of new entrepreneurs in the Twin Cities has been on an upward trend in recent years.

The website also notes that pay in the tech industry, a significant source of business start-ups, is twice the average state wage.

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