From the Courier-Journal:
The percentage of businesses that are profitable in Louisville is higher than most other metropolitan areas in the country, according to a new study.
The Derby City ranks No. 2 for metro areas with the largest share of profitable businesses, online loans marketplace LendingTree found in a recent report based on U.S. Census Bureau data.
Of Louisville’s 13,404 businesses, 9,380 of them — or 69.98% — are reporting profits. The only city that stands ahead of Louisville is Seattle, which has 70.93% of its businesses reporting profits.
LendingTree attributed much of Louisville’s business profitability to the Kentucky Derby, as tourism leading up to the annual horse race benefits many retailers and restaurants. The Kentucky Derby has an annual economic impact of more than $127 million, according to the Kentucky Derby Festival.
Rebecca Fleischaker, the city’s director of Economic Development, said it is “not surprising” that Louisville ranked so high on this list.