Georgia Ranks 5th
NVCA's Venture Impact Report is an excellent resource for anyone looking to better understand the economic development implications of venture capital. One statistic worth noting in the latest edition is Georgia’s position on the following table.
Top Five States by Employment at Venture Capital Backed Companies Headquartered in the State for 2006 Rank State Employment at Venture Capital Backed Companies
- California - 2,362,400
- Texas - 1,118,600
- Pennsylvania - 697,400
- Massachusetts - 674,300
- Georgia - 604,500
If I had to guess, I would suspect that Home Depot is a major contributor to this number. (Yes, HD is venture-backed). But what else is contributing to that number?
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Well, I, for one, am working for a venture-backed company in Georgia. However, my company employs only (!) 130ish people.
Doesn't the qualification of "venture-backed" disappear once they go public (and the VC's shares become liquid)? It seems disingenuous to include Home Depot in a list of venture-backed companies.
I'm surprised to see that Massachusetts is so far down on the list. But, I guess since it is such a small state, that most investments are regional, rather than "local".