Study names North Chicago among best small city in United States for entrepreneurship

A new study released named North Chicago as one of the top small cities in the United States for entrepreneurship for the second time in 10 years.

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

North Chicago ranked among the best small cities in the country for entrepreneurship. It is the second time in 10 years the city has achieved the ranking.

The only other small city, defined as having 25,000-100,000 residents, that ranked higher than North Chicago in 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.”

“Granting the benefits of a smaller city along with proximity to larger ones 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 business costs.

“Creating a positive environment for new business to thrive takes a deliberate approach to meet the needs of a small business,” North Chicago Mayor Leon Rockingham said.

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

They touted recent plans announced by Diveheart, a non-profit set on building the world’s deepest therapy pool in North Chicago.