The Best States and Cities for Crowdfunding

crowdsourcingLast week we covered a couple of recent reports that take a quarterly pulse on angel investing and venture capital. This week, we look at a new index that has started to do the same for crowdfunding -- ranking the U.S. states and 100 cities from top-to-bottom in terms of the impact of crowdfunding on jobs and entrepreneurial activity.

According to the JOBSIMPACT Small Business Crowdfunding Index, the 10 best states for crowdfunding are: 1) Washington, DC, 2) New York, 3) Vermont, 4) Oregon, 5) California, 6) Colorado, 7) Utah, 8) Rhode Island, 9) Nevada, and 10) Massachusetts.

The top 10 cities are: 1) San Francisco, CA; 2) Salt Lake, UT; 3) Portland, OR; 4) Atlanta, GA; 5) Berkeley, CA; 6) Minneapolis, MN; 7) Seattle, WA; 8) Orlando, FL; 9) Boston, MA; and, 10) Pittsburgh, PA.

The states and cities are ranked based on a JOBSIMPACT rating which is a job creation indicator attached to the economic output from crowdfunding campaigns. The results show almost 40,000 new jobs as a result of crowdfunding.

Globally, the U.S. dominates in the field with 5,529 fully-funded projects during July to September 2014 totalling $142.8 million. The next most active country, the United Kingdom, counted 812 deals and $37.3 million.

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