MILWAUKEE, Wis. – For the second straight year, the Virginia-based PenFed Foundation has named Madison and Milwaukee among the 2021 Top US cities for Veteran Entrepreneurs. The report, which ranked Madison at #17 and Milwaukee at #19, found Wisconsin is one of the country’s prime destinations for veteran entrepreneurship.

“Thanks to the hard work of our partners in the public and private sector, Wisconsin is emerging as the leading state for veterans to start and grow their businesses,” said Saul Newton, President & CEO of the Wisconsin Veterans Chamber of Commerce. “We know that when veterans succeed, Wisconsin succeeds. Attracting more veteran entrepreneurs to call Wisconsin home benefits everyone, and we’re proud to see that our state’s investment in veteran business owners is paying off.”

The PenFed Foundation Veteran Entrepreneur Investment Program releases its Top US Cities for Veteran Entrepreneurs report annually. Rankings are determined by compiling data from more than 30 sources to analyzing characteristics of Metropolitan Statistical Areas on the basis of livability, economic growth, support for veterans, and ability to start a business. The report, while ranking Milwaukee among the top cities in the “Livability” category for the second year, showed Milwaukee dropped four spots and Madison dropped nine spots compared to 2020’s overall rankings. However, Wisconsin was one of only four states in the country to have more than one city recognized. Wisconsin cities have built upon their strength and overall study scores were higher than in previous years.

“PenFed is proud to support the military community and our highly skilled veteran entrepreneurs who have unique experiences and grit to succeed. Supporting veteran entrepreneurs provides more jobs and opportunities for the military community as veteran-owned businesses often hire more veterans,” said James Schenck, president and CEO of PenFed Credit Union and CEO of the PenFed Foundation. “Wisconsin is building stronger cities through its support for veteran entrepreneurs. The goal of our top cities report is to celebrate American cities while inspiring them to do even more to support veteran businesses.”

“Even with the challenges of the last few years, Wisconsin’s veteran business community has never been stronger,” said Newton. “The Wisconsin Veterans Chamber of Commerce is excited to continue our leadership role as the state’s only business association dedicated to serving veterans, service members, and their families and ensure Wisconsin is the best state in the nation for those who have served and sacrificed on behalf of our country.”

The full PenFed Foundation 2021 Top 20 Cities for Veteran Entrepreneurs report can be found here:

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