A new ranking from real estate investment marketplace Roofstock places 3 Texas cities among the major U.S. metro areas with the highest rates of startup formation. The ranking, based on data from the U.S. Census Bureau, puts Austin at No. 3 (startup formation rate of 10.61 percent), Dallas-Fort Worth at No. 5 (startup formation rate of 9.82 percent), and Houston at No. 10 (startup formation rate of 9.48 percent).
The startup formation rate refers to the number of new businesses in a given year divided by the total number of businesses.
Here’s the additional data for the Austin metro area:
- Number of annual startup formations: 3,858
- Number of annual new jobs created by startups: 21,357
- Number of jobs created by startups as a share of all new jobs: 16.49 percent
Here’s the additional data for the Dallas-Fort Worth metro area:
- Number of annual startup formations: 10,731
- Number of annual new jobs created by startups: 69,696
- Number of jobs created by startups as a share of all new jobs: 15.11 percent
Here’s the additional data for Houston metro area:
- Annual number of startup formations: 9,214
- Annual number of jobs created by startups: 55,475
- Number of jobs created by startups as a share of all new jobs: 14.44 percent
The Las Vegas metro area holds the No. 1 spot on the Roofstock list, with a startup formation rate of 11.44 percent.
Source: InnovationMap