RENO, Nev. - An influential business magazine is praising the climate for starting new companies in Nevada.
Inc. Magazine rates Las Vegas No. 1 and Reno fourth on its national list of Top 10 small cities for starting and growing a company.
The magazine says in its December edition that the low tax climate is one of the best reasons to start a company in Nevada. The state has no personal or corporate income taxes.
It notes Las Vegas is the fastest growing city in the region now with 1.4 million people. More importantly, the city has access to 33 million tourists a year.
Inc. gives Reno high marks for its outdoors lifestyle. It also cites Reno's easy access to air, rail and road transportation as well as significant growth as a regional warehouse and distribution center in the West.
Sandwiched between Las Vegas and Reno on the list are Fargo, N.D., and Sioux Falls, S.D.
Others on Inc. Magazine's Top 10 small cities are Austin, Texas; Charleston, S.C.; Wilmington, N.C.; Montgomery, Ala.; Columbia, S.C.; and Baton Rouge, La.
The ranking was an improvement over Inc.'s 1999 survey, which placed Reno seventh among the top 50 small metropolitan areas in America.
''I like it, but it doesn't surprise me,'' said Chuck Alvey, president and chief executive officer of the Economic Development Authority of Western Nevada.
''In 1999, we assisted 21 companies coming into the community,'' he told the Reno Gazette-Journal. ''This year to date, we have assisted 31 companies. And a lot of companies come to town that we don't even know about.''
Alvey said the 21 new arrivals in Reno last year pumped an estimated $92 million into the areas economy, and the 31 companies this year are projected to add $112 million.