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Ky. among top states for business startups

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FRANKFORT, Ky. (AP) -- The governor's office says Kentucky has been listed among the states with the highest number of startup businesses in 2011.

A statement says the state tied for the eighth-highest number of new companies in the latest Kauffman Index of Entrepreneurial Activity report. The statement said Kentucky had a 27 percent increase in entrepreneurial activity over the previous year.

Beshear said the ranking is important because startup companies play an important role in the state's economy. He says climbing to eighth-place "testifies to the success of the people and programs we've put in place to support startup businesses across the Commonwealth."

Although Kentucky's entrepreneurial activity increased, the report said most states saw a drop in the number of startup businesses.

Copyright Copyright 2012 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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