DFX Intelligence Observatory

Business formation by state, trailing twelve months

Business applications per 1,000 residents by stateAK17ME11VT13NH14WA15ID18MT28ND12MN13IL16WI13MI17NY16MA12RI11OR15NV21WY145SD14IA12IN14OH16PA13NJ18CT15CA15UT24CO27NE12MO18KY17WV10VA17MD17DE58AZ20NM21KS14AR15TN16NC18SC18DC23OK17LA18MS21AL15GA25HI13TX19FL30
Scale<1212–1616–2020–2626–4040+

Source: U.S. Census Bureau, Business Formation Statistics, via Federal Reserve Bank of St. Louis (FRED). Retrieved August 24, 2026. Analysis by DFX Intelligence.

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