May 7, 2004

Hotbed becomes seedbed: Madison is #1.

The WSJ--Wisconsin State Journal--reports:
Madison has been ranked as the top city in the nation for business and careers by Forbes Magazine, edging out larger competitors like Austin, Texas, and Raleigh-Durham, N.C.

Madison ranked first among the 150 largest metropolitan areas based on the education of the work force, percentage of the population with college degrees, low unemployment and crime rate, cost of housing, income and job growth.

"This hotbed of radicalism has grown into a seedbed of bio-capitalism, propelling the region to the number one slot on our list of Best Places for Business and Careers," writes Mark Tatge in a May 24 Forbes article titled "Miracle in the Midwest." ...

"Madison offers a unique combination of assets that is very difficult to replicate in other cities," said Tom Still, president of the Wisconsin Technology Council. "It's hard to find a city with the depth of technology transfer and company formation as well as quality of life." ...

"People choose Madison for the lifestyle first and they create business opportunities that grow into major companies," said Terrence Wall of T. Wall Properties, a development company. "They turn wild and wacky ideas into new businesses." ...

Great! Biggest problem:
Lack of investment capital is a problem in the Madison area, according to Forbes. The magazine cited a recent study by the venture capital industry ranking the Madison area 35th in the nation for per capita investment funds under management.

So come to Madison ... and bring money!