If your company is considering an expansion this year, finding the right cities could make all of the difference. There’s a lot of data out there on which cities to select. We looked at the information from 2021 and came up with a list of hot cities to expand in for 2022. Here’s what you need to know about the best locations to expand or hire into this year.
Where Should You Expand Your Business?
Hottest Cities in 2022 from a Business Perspective
The Real Estate Witch compiled data from Google Trends, the Bureau of Economic Analysis, the Bureau of Labor Statistics, and more to figure out the best cities to either start a new business or expand your existing one into. They recommend:
- Las Vegas has the lowest corporate tax rate and highest employment growth of all 50-states in the last 12-months.
- Miami is the hottest market right now for start-up businesses.
- Businesses should expand to Florida. They have no state income tax and one of the lowest corporate tax rates in the U.S.
- The worst places to expand are Hartford, Connecticut; Boston, Massachusetts; Pittsburgh, Pennsylvania; Chicago, Illinois; and New York, New York.
In addition to these cities, the article recommends these additional locations as havens for expansion:
- Salt Lake City, Utah
- Atlanta, Georgia
- Phoenix, Arizona
These cities have a thriving business climate, lower taxes, and employment growth.
But if you’re trying to expand, you’ll also need top talent. Which cities seem to be the best for new employees? Where are all the best workers, and how can you take advantage?
Which Cities are Employees Flocking to?
Bankrate annually publishes their best places to live ranking. In 2022, the company looked at the cost of living compared to home prices and values. They also looked at the general sense of well-being experienced by the residents of these cities, including crime rates, employment, and more. Finally, they tracked the number of people moving to these cities to discern a trend and confirm they were picking the best cities to live in. The 2022 list includes, in order:
- Raleigh, North Carolina
- Charleston, South Carolina
- Austin, Texas
- Oklahoma City, Oklahoma
- Tampa, Florida
- Boise, Idaho
- Providence, Rhode Island
- Minneapolis, Minnesota
- Cincinnati, Ohio
- Jacksonville, Florida
- Columbus, Ohio
- Kansas City, Missouri
- Grand Rapids, Michigan
- Tucson, Arizona
Expanding to a new city means you’ll face a host of new rules and regulations that govern staff employment. How can you stay on top of all the ever-changing regulatory rules around hiring and employment? The answer is to consider working with an Employer of Record. An EOR takes on all of the risks associated with the hiring contract. From onboarding and new hire set up to onboarding, payroll, HR, and benefits, EORs are an easy partnership for companies seeking to open new offices this year or who are hiring remote workers across state lines.
Looking to Expand Your Business?
How can FoxHire help your business in 2022? Click here to find out more about what we do and how we can help your company succeed this year. We’re here to help.
