Unfortunately, Indianapolis doesn’t seem to get the credit it deserves as a favorable place for entrepreneurs and small businesses. Part of the reason this part of the southern region of the U.S. continues to dominate in the business rankings is the favorable tax structure.
Because they don’t have all the problems of big cities like high crime, they can fund and support workforce development and education. It leads to a higher quality of life through the kinds of enhancements and incentive programs big cities usually don’t offer.
An acquaintance of mine from the Midwest already knows all of this, which is why he chose to make Indianapolis home base. His rent is much less than it would ever be in a large city – in fact, when he told me what it was, I didn’t believe him. It’s basically around half what a similar pad would cost in neighboring Chicago. And Chicago’s rates are generally far below that of major hubs like New York and Los Angeles.
Still, the cost of living is less in the state of Indiana, which is why there are so many Chicago refugees there. You can pretty much have a house for less than what they charge for a crappy apartment. It’s also easy to commute elsewhere for business contacts and events.
Finally, my friend finds it is much easier to focus on building his business when he is not distracted by all of the hullabaloo a big city has going on. Time is worth money for everyone these days, especially entrepreneurs. Now he travels extensively to make business contacts in different regions and rents meeting rooms in just about every town. Indiana conference rooms were where he got his start – and meeting rooms around the nation are what he uses to expand. You really can’t beat that for business growth.