Research calls North Chicago one of the best small cities in the United States for entrepreneurship

File photo | Photo: City of North Chicago

A new study shows that North Chicago is one of the top small cities in the United States for entrepreneurship for the second time in a decade.

WalletHub, a personal finance company, published a 2024 study earlier this week on the best and worst small towns to start a business.

North Chicago is among the nation’s top small cities for entrepreneurship. It is the second time in ten years that the city has achieved this ranking.

The only other small city, defined as 25,000 to 100,000 residents, to score higher than North Chicago, Illinois was Hanover Park.

North Chicago city officials say the city is home to a mature commercial landscape but still has “plenty of room for growth.”

“Offering the benefits of a smaller city, along with proximity to larger cities and the surrounding cluster of suburbs, offers entrepreneurs the best of both worlds,” city officials said.

According to WalletHub, the study used three key dimensions: business environment, access to resources and operating costs.

“Creating a positive environment in which new businesses can thrive takes a deliberate approach to meeting the needs of a small business,” said North Chicago Mayor Leon Rockingham.

City officials say North Chicago’s approach has resulted in a steady increase in business interest.

They touted recent plans announced by Diveheart, a nonprofit dedicated to building the world’s deepest therapy pool in North Chicago.