Raleigh ranked No. 10 on a list that determined which cities were the most prosperous for businesses.
The ranking by MarketWatch, published by Dow Jones & Co., looked at various economic data, including the performance of publicly traded companies in each metro area, to evaluate business conditions in the country’s 100 largest metro areas, and awarded points.
The top five on the “Top Cities for Business Growth in 2012” list were: Austin, Boston, Houston, San Jose and Portland.
Raleigh rated 1,564 points despite being – in MarketWatch’s words – “a relatively unknown city.”
The city got high marks in economic metrics, education scores and concentration of commerce, according to MarketWatch. But “its companies had a spotty year, with Nasdaq firms posting high profits, but NYSE entries ending up in the bottom 10.”
Mark Sirgo, CEO of BioDelivery Sciences International in Raleigh, told MarketWatch that taxes were favorable but getting venture capital remained a problem.