Special Report: Doing Business in the PIA Western Alliance States — 2 Different Angles

Insurance is about doing business. And much of the business of insurance involves business. Here are a couple of angles looking at business in the 10 PIA Western Alliance states.

The TV network, CNBC takes an annual look at doing business in the United States. The 19th year of the study — America’s Top States for Business in 2025 — identifies several factors that businesses use to make decisions on where to expand, or where to move.

There are 10 factors considered each year. Each category is weighted and CNBC ranks them in each of those categories. This year’s top push by states is the economy. It is followed by the infrastructure, a solid workforce, the cost of doing business, business friendliness, the quality of life in the state, technology and innovation, education, access to capital and the cost of living.

North Carolina, Texas, Florida, Virginia and Ohio are the top 5 states from the CNBC study. No PIA Western Alliance states are in the top 10. The highest rank is Arizona at 12th. Washington is number 14. The rest fall farther down the line with California — at 22 — close to the mid-point. Idaho is just on the other side of the midpoint of 50 at 27.

Here’s how the PIA Western Alliance states stack up:

12. Arizona

Economy: 13

Infrastructure: 3

Workforce: 6

Cost of doing business: 32

Business friendliness: 17

Quality of life: 39

Technology & innovation: 20

Education: 47

Access to capital: 25

Cost of living: 39

14. Washington

Economy: 6

Infrastructure: 26

Workforce: 5

Cost of doing business: 48

Business friendliness: 41

Quality of life: 14

Technology & innovation: 4

Education: 33

Access to capital: 14

Cost of living: 39

22. California

Economy: 12

Infrastructure: 25

Workforce: 20

Cost of doing business: 40

Business friendliness: 48

Quality of life: 32

Technology & innovation: 1

Education: 31

Access to capital: 1

Cost of living: 50

27. Idaho

Economy: 7

Infrastructure: 38

Workforce: 38

Cost of doing business: 25

Business friendliness: 10

Quality of life: 19

Technology & innovation: 25

Education: 49

Access to capital: 50

Cost of living: 26

39. Oregon

Economy: 41

Infrastructure: 14

Workforce: 23

Cost of doing business: 43

Business friendliness: 47

Quality of life: 19

Technology & innovation: 14

Education: 35

Access to capital: 24

Cost of living: 45

42. Nevada

Economy: 17

Infrastructure: 13

Workforce: 18

Cost of doing business: 36

Business friendliness: 33

Quality of life: 36

Technology & innovation: 49

Education: 50

Access to capital: 30

Cost of living: 34

44. New Mexico

Economy: 45

Infrastructure: 29

Workforce: 31

Cost of doing business: 23

Business friendliness: 39

Quality of life: 33

Technology & innovation: 35

Education: 38

Access to capital: 46

Cost of living: 26

48. Montana

Economy: 23

Infrastructure: 45

Workforce: 50

Cost of doing business: 32

Business friendliness: 29

Quality of life: 35

Technology & innovation: 38

Education: 27

Access to capital: 46

Cost of living: 31

49. Hawaii

Economy: 39

Infrastructure: 48

Workforce: 29

Cost of doing business: 50

Business friendliness: 44

Quality of life: 6

Technology & innovation: 48

Education: 42

Access to capital: 48

Cost of living: 49

50. Alaska

Economy: 50

Infrastructure: 49

Workforce: 28

Cost of doing business: 41

Business friendliness: 27

Quality of life: 25

Technology & innovation: 47

Education: 48

Access to capital: 49

Cost of living: 26

When it comes to starting a business, choosing a city is critical. And when it comes to cities, bigger is not always better. Sometimes smaller cities give a startup a better chance of success. There are  often lower overhead costs, stronger relationships with customers and the potential to become a big fish in a small pond.

Some cities even reach out and help. Even with that, 35% of new businesses fail within the first two years and 48% fail in their first five years of existence. So starting a small business can be tricky.

Using 18 metrics, WalletHub spokesman, Chip Lupo said his company took a look at 1,300 small cities in the U.S. to determine which are the best in which to start a business.

Many of them are in the PIA Western Alliance states.

“The benefits of starting a business in a small city include lower overhead costs, stronger relationships with customers and the potential to become a big fish in a little pond,” Lupo said. “But there are drawbacks, too. Entrepreneurs who want to build a large professional network aren’t likely to make as many connections in a town with fewer residents. Other restrictions might include limited industry options, a less diverse customer base, and difficulty attracting and keeping top talent.”

WalletHub’s research found the best small city to start a business is St. George, Utah. It’s followed by Fort Myers, Florida, Cedar City, Utah, and Washington, Utah.

Three PIA Western Alliance cities are in the top-10 best small cities.

Ranked 5th is The PIA Western Alliance city of Bozeman, Montana. Here are its numbers:

Total score: 60.29

Business environment rank: 8

Access to resource rank: 33

Business cost rank: 427

At number 7 and 8 are The PIA Western Alliance cities of Bend, Oregon and Redmond, Oregon. Here are their scores:

Bend total score: 58.94

Business environment rank: 1

Access to resource rank: 49

Business cost rank: 1,013

Redmond total score: 58.93

Business environment rank: 3

Access to resource rank: 195

Business cost rank: 820

Other PIA Western Alliance cities in the top 30:

11. And just missing the top-10, Post Falls, Idaho

Total score: 57.68

Business environment rank: 10

Access to resource rank: 392

Business cost rank: 276

16. Helena, Montana

Total score: 56.96

Business environment rank: 24

Access to resource rank: 201

Business cost rank: 292

17. Caldwell, Idaho

Total score: 56.86

Business environment rank: 38

Access to resource rank: 140

Business cost rank: 293

18. Nampa, Idaho

Total score: 56.59

Business environment rank: 35

Access to resource rank: 159

Business cost rank: 303

21. Coeur d'Alene, Idaho

Total score: 56.32

Business environment rank: 6

Access to resource rank: 940

Business cost rank: 332

Here are the 10 worst small cities of the 1334 cities researched. Eight of the 10 are in the PIA Western Alliance state of California and another is in the PIA Western Alliance state of Washington. Just one — Potomac, Maryland — are a top-10 worst city not in the PIA Western Alliance states.

1334. Cupertino, California

1333. Saratoga, California

1332. Pacifica, California

1331. Oakley, California

1330. Potomac, Maryland

1329. Danville, California

1328. Sammamish, Washington

1327. Hercules, California

1326. Belmont, California

1325. Morgan Hill, California

Source link: CNBC — https://bit.ly/4mbe72Q

Source link: WalletHub — https://bit.ly/3IKi6VY