New research has revealed the counties with the highest rate of business applications in America, with a county in Wyoming coming out on top.

The study by Forbes Advisor analyzed county-level annual business applications for more than 3,000 counties across the U.S. and compared the number of applications in 2021 with each county’s population to discover which has the highest rate. 

Sheridan County in Wyoming sits at the top of the list with a rate of 535 business applications per 1,000 people—the highest ratio in the U.S. Census data estimates that 31,646 people live in the county, and there were 16,958 business applications during 2021, which equates to every second person in the county submitting an application. 

Across all counties that were measured, there was an average of 11 applications per 1,000 people, which highlights that applications in Sheridan County were made 48 times more often than the national average.

The next four counties on the list are also in Wyoming. Sublette County had 732 business applications in 2021, which compared to a population of 8,697 equates to 84 applications per 1,000 people. Teton County is home to 23,575 people and saw 1,855 applications during the year, which results in 79 applications for every 1,000 residents. Johnson County’s 662 applications and population of 8,623 produces a rate of 77 applications per 1,000 people.

In 2015, the number of business applications in Sheridan County was 331—in line with the national average. Since then, however, the number has increased significantly each year. It has more than doubled since 2019 when there were 7,741 applications. Wyoming is one of just two states, along with South Dakota, to have no corporate income tax.

The first place outside of Wyoming to feature in the list, placing fifth overall, is Noxubee County in Mississippi. There were 688 business applications in the county in 2021, which results in 68 applications per 1,000 people when compared to a population of 10,123. 

Kent County in Delaware ranks as the county with the sixth highest rate of business applications, due to 11,494 applications and 184,149 residents–62 applications per 1,000 people. Two Georgia counties place in seventh and eighth–Clayton County (58 applications per 1,000 people), and Fulton County (57 applications per 1,000 people). 

Another Wyoming area in ninth, Laramie County (55 applications per 1,000 people), means that the state is home to five counties in the top ten, while Rockdale County (53 applications per 1,000 people) is Georgia’s third entry in the top ten. 

The most business applications in 2021 were made in Los Angeles County, with a total of 178,467. However, when factoring in the county’s population of 9,829,544, the rate works out to 18 applications per 1,000 people. 

The second most applications came from Miami-Dade county, where 135,710 were submitted in 2021. There are an estimated 2,662,777 people living in the area, which results in a rate of 51 applications per 1,000 people—the 12th highest rate in the nation. 

The study was conducted by Forbes Advisor, whose editorial team has decades of experience in the personal finance industry. The team helps consumers make smart financial decisions and choose the best financial products.   

Forbes Advisor’s priority is ensuring its coverage, reviews and advice are backed by research, deep expertise and strict methodologies.

The top 10 U.S. counties with the highest rate of business applications