Kentucky jumps 45 places in national entrepreneur ranking
FRANKFORT, Ky -
Kentucky has jumped 45 places in the State Entrepreneurship Index's annual ranking of states' ability to create businesses.
The commonwealth ranked 4th in the nation in 2013, after being ranked 49th by SEI in 2012.
In a news release, Gov. Steve Beshear attributed the jump to the way his administration has nurtured small business growth, including last year's introduction of the Kentucky Cabinet for Economic Development's Office of Entrepreneurship.
The SEI takes five factors into account in the ranking: establishment growth, establishment growth per capita, business formation rates, patents per 1,000 people and income levels for non-farm proprietors.
North Dakota topped the 2013 list, while Michigan was ranked 50th in the nation.
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