WalletHub recently compiled a list of the best large cities to do business in the U.S., pulling from the 150 places with largest city populations. First place goes to Oklahoma City, Oklahoma, soundly beating stereotypically startup-friendly cities like San Jose (No. 70) and San Francisco (No. 72).
WalletHub judged cities on how strongly they scored in three different areas: the overall business environment, access to resources, and the cost of doing business. Oklahoma City ranked highly in both the business environment category--which accounted for factors such as the number of startups per capita and the five-year-business survival rate--and the cost of doing business. The average salary for a software developer in Oklahoma City is $66,007 (nearly $20,000 below the national average, according to data from Glassdoor). Meanwhile, San Francisco came in more than 70 spots below Oklahoma City thanks to its skyrocketing cost of doing business, which ranked as the most expensive out of the 150 cities on WalletHub's list.
"I feel like startups here have been able to take a more profitable growth strategy [thanks to the low cost of living]" says Danny Maloney, the CEO and co-founder of Oklahoma City-based visual marketing platform Tailwind. Maloney, a former AOL and Google executive, moved from New York City to Oklahoma City just over four years ago to start Tailwind. But, he added "we need to do a better job of telling our story."
The rest of the top 10 cities on WalletHub's list are populated with other cities often considered second-or-third tier startup markets like Salt Lake City and Durham, North Carolina. The most well-known startup hub in the top 10 is Austin, which came in at No. 8.