Barbara Corcoran singled out this US city as the top hotspot she'd choose to open a business. Why the mogul finds it so attractive — and how you, too, can find a budding market

Aside from the perks she mentioned, Pittsburgh has a lot going for it due to its proximity to resources, tax benefits and draw for employees.

Let’s take a look at why the place nicknamed “Steel City” is so attractive for businesses, and how you can find other budding markets.

Why Pittsburgh is attractive for businesses

Corcoran mentioned in the same interview that Pennsylvania has a business-friendly state government, and she’s right.

With the passing of bill HB 1342 in 2022, the state corporate net income tax rate was lowered from 9.99% to 8.99% starting in 2023. The rate will be further reduced by 0.5% per year until 2031, when it will reach 4.99%. Pennsylvania, previously among the states with the highest corporate tax rates, will eventually have some of the lowest in the country.

Pittsburgh, the state’s second-largest city, is also well-located. Half of the U.S. population lives within 500 miles of the Steel City. This can give businesses better access to supplies or vendors and even current and future customers. The city also has a robust labor force of around 1.29 million people in the area.

Employees will find Pittsburgh to be highly livable, with typical home values sitting around $243,000, according to Zillow, lower than its national estimated average of around $368,000.

Some of Pittsburgh’s other notable features include outdoor amenities, a large number of regional post secondary educational institutions and cultural attractions, which could lure employees to come and work for your business.