Franklin has been rated number 10 on the Fortune Small Business list of 100 top places to live and start businesses, beating out communities such as Santa Fe, N.M., Virginia Beach, Va., and Scottsdale, Ariz. Worcester rated 38th on the list, while Cambridge rated 35th.
Fortune called its list the top 100 communities in which “to live and launch,” subtitled “100 great towns that will feed your soul and nurture your business.”
Among the criteria used to choose the top 100 were local tax rates, startup activity, affordable housing, natural beauty and how accessible museums and recreational resources were.
Fortune highlighted Franklin’s Forge Park, a 360-acre development where big companies like Cisco and New England Power have facilities, which brings more than $1 million every year to the town’s tax base. The town has a single tax rate.
Franklin’s other pluses were recreational land, availability of professional sports, commuter rail and a tech savvy workforce. Its big minus was that Interstate 495, which runs through the town, turns into a parking lot in the summer with those headed to Cape Cod.
Worcester was chosen in part due to an increasing concentration of biotech and alternative energy industries as well its 15 colleges and universities, which contribute to an educated workforce. It also touted the city’s government as being dedicated to promoting local businesses.
Fortune pointed to state-level research and development and job-creation incentives, including the Worcester Polytechnic Institute Venture Forum where networking between tech startups and venture capitalists is nurtured.
