Fairfax ranks as one of the best places for entrepreneurs

Fairfax’s hot venture capital market and proximity to the federal government put the region near the top of the list at No. 7. The county’s ability to attract venture capital — $297 million last year — and its booming IT, business services and biotech markets all helped bolster its ranking.

Proximity to the federal government was a key factor in the No. 8 ranking, which includes Washington, Arlington and Alexandria. But the area’s retail sector also contributed to its placement on the list.

While Fairfax has emphasized fostering the technology market, Alexandria has focused more on service- and hospitality-based entrepreneurs, said Stephanie Landrum, acting executive director of the Alexandria Economic Development Partnership.

“Our office will work with any size business,” she said. “Why we’re flourishing right now is because we’ve identified what our niche market is. … We’ve really figured out who fits best here and are reaching out and doing all we can to help them.”

The city’s strong tourist base has made it a great location for new retailers and restaurants to get on their feet, she said.

Bethesda, Frederick and Gaithersburg also made the list at No. 27. While that ranking is significantly lower than those of that area’s Northern Virginia counterparts, it should still be considered a positive, said Julia Spicer, executive director of the Mid-Atlantic Venture Capital Association.

“The fact that multiple jurisdictions were listed shows that we’ve got success populating throughout the region,” she said. “That kind of success is nice to have because it benefits the whole region.”

Spirit of enterprise

Top 10 cities for entrepreneurs:

1) Las Vegas

2) Fort Lauderdale, Fla.

3) Orlando, Fla.

4) West Palm Beach-Boca Raton, Fla.

5) San Bernardino-Riverside, Calif.

6) Phoenix

7) Fairfax County

8) Washington, D.C.-Arlington-Alexandria

9) Tampa-St. Petersburg, Fla.

10) Camden-Burlington Counties, N.J.

Source: Inc. Magazine

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