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Company ranks Boone County in top 10 for business growth

A financial technology company called SmartAsset recently ranked Boone County among Nebraska’s top 10 counties for business growth.
The company analyzed all Nebraska counties, measuring growth in the number of businesses over a four-year period.
Boone County ranked fifth with business growth of 6.3 percent and GDP growth of $17 million over the measurement period.
Ranking first in the study was Howard County with 13.3 percent business growth and $14 million in GDP growth. Second was Sarpy County with 7.8 percent business growth and $304 million in GDP growth.
Ranking third was Hamilton County with 6.5 percent business growth and $26 million in GDP growth. Fourth was Stanton County with 6.5 percent business growth and $10 million in GDP growth.
The bottom five of the top 10 and their business growth percentage were: Washington County, sixth at 5.7 percent; Burt County, seventh at 5.6 percent; Seward County, eighth at 5.5 percent; Antelope County, ninth at five percent, and Buffalo County, 10th at 4.8 percent.
The SmartAsset study aims to capture the places across the country that are receiving the most incoming investments in business, real estate, government and the local economy as a whole. To do this, they looked at four factors: business establishment growth, GDP growth, new building permits and federal funding.
The study included changes in the number of businesses established in each location over a three-year period to show whether or not people are starting new business ventures in the county.
The second factor was GDP growth, and the company used real growth (inflation adjusted) in the local economy.
Also considered were investment and development in the local residential real estate market. To measure this, the company calculated the number of new building permits per 1,000 homes.
The final factor considered was federal funding received by each county. The company found federal funding in the form of contracts awarded to businesses in each county, which were divided by the population. This provided a per capita look at the flow of investment from the federal to the local level.
Each county in the study was scored on these four factors. SmartAsset then combined those scores to create a final ranking. With that ranking, they created an index where the county with the most incoming investments was assigned a value of 100 and the county with the least investment activity received a zero.
Sources used in the study were the U.S. Census Bureau’s 2017 American Community Survey, U.S. Bureau Economic Analysis, U.S. Census Bureau Building Permits Survey and USAspending.gov