Las Vegas Tops The Nation For Business Growth
Las Vegas’s surge to the top of the list was fueled by home-services growth, signaling activity throughout the home-buying and home-owning life cycles as the region’s construction sector booms. Movers, mortgage brokers and specialists in flooring, masonry and concrete, and solar installation all opened their doors at rates far outstripping business closures throughout the Vegas area. In the first quarter, as many home-services businesses in the region closed as opened; second-quarter growth in the sector really drove Vegas’s recovery.
No. 2 Austin’s story also is one of home-services strength, with some
different power centers: pressure washers, fences and gates, and HVAC
(heating, ventilation, and air conditioning). True to its
Miami’s growth, third highest nationally, was fueled by the health sector, with doctors in many different specialties opening practices. Salons, offering a different kind of care, also boomed in the area, including Biscayne Nail and Beauty Bar. (Natalia P.: “I love this new place.”)
Detecting economic trends by measuring business growth is a technique equally relevant for types of businesses as for metro areas. In an accompanying report, we chart the meteoric growth in businesses selling the Hawaiian raw-fish dish poke around the U.S.
The Local Economic Outlook is part of a larger, ongoing project to surface insights from Yelp’s deep data stores to help businesses succeed and arm policymakers with the information they need to boost local economies.
Ranking 50 Cities in America for Economic Opportunity
Current Rank City
Las Vegas, Nev. Austin, Texas Miami, Fla. Louisville, Ky. Houston, Texas Salt Lake City, Utah Atlanta, Ga. Dallas, Texas Charlotte, N.C. Jacksonville, Fla. Nashville, Tenn. Madison, Wis. Buffalo, N.Y. Washington Memphis, Tenn. Seattle Albuquerque, N.M. Portland, Maine Tulsa, Okla. Denver Tampa, Fla. Orlando, Fla. Cincinnati, Ohio Charleston, S.C. San Diego, Calif. St. Louis Richmond, Va. Minneapolis Rochester, N.Y. Phoenix New York Milwaukee Honolulu Baltimore Portland, Ore. Pittsburgh Columbus, Ohio New Orleans Hartford, Conn. Los Angeles Tucson, Ariz. Sacramento, Calif. Boston Providence, R.I. Chicago Philadelphia Cleveland Omaha, Neb. San Francisco San Jose, Calif.
We rank metros by the rate of change in number of businesses between the start and end of the quarter. We count business openings and closures by when those events are registered on Yelp by users and business owners; our checks indicate that any reporting lags are largely consistent across metros and wouldn’t substantially alter the rankings.
The rankings are based on data from the second quarter of 2018 (April through June). The changes in rankings are based on comparing data from the second quarter of 2018 with data from the first quarter of 2018 (January through March).
We include businesses in the top 10 primary categories on Yelp, according to page views. Data for a business in multiple primary categories is divided among them.
Choosing the 50 Cities in the Economic Outlook
We started with the three biggest cities as measured by number of listings on Yelp in each of the Census Bureau’s nine U.S. regions in 2017. We then added 23 of the other largest cities in the country. Each city includes businesses within the city’s larger metro area. For 40 of the cities, we use the metro area defined by the Census Bureau’s Metropolitan Statistical Areas. For the other 10, we use Census’s Metropolitan Divisions. We continue to track these 50 cities — the Yelp 50 — each quarter.
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