Study reveals top US cities for Veteran entrepreneurs, see the list
As part of their separation from the military, service members take part in the Transition Assistance Program (TAP), which provides information, resources, and tools to service members for the move from military to civilian life (Fort Bliss)
The Department of Veterans Affairs (VA) says each year, around 200,000 U.S. Military service members transition to civilian life and go to work at a company, attend school to learn a new career, or start their own business.
As part of their separation from the military, service members take part in the Transition Assistance Program (TAP), which provides information, resources, and tools to service members for the move from military to civilian life.
Dig deeper:
A study by the nonprofit PenFed Foundation for Military Heroes, an organization dedicated to supporting veterans in their transition from service to success in civilian life, revealed the top U.S. cities for veteran entrepreneurs.
According to the 2025 study, Washington D.C. is the top large city for veterans to start a business followed by Raleigh, N.C, Tampa Fla., Austin, Texas, Dallas, Texas, and Seattle, Wash.
The study also ranked the top 20 small-sized cities for veteran entrepreneurs, highlighting opportunities for success in both big cities and smaller markets. Cheyenne, WY took the top spot, followed by Durham-Chapel Hill, N.C., Sioux Falls, S.D., Rapid City, S.D., and Columbia, Mo.
The backstory:
The foundation's Veteran Entrepreneur Program conducted the study in partnership with Polco and the National Research Center (NRC), measuring each metropolitan area by livability, support for veterans, economic growth, and ability to start a business. Rankings were developed using data from more than 30 publicly available sources, including government and nonprofit databases.
What they're saying:
"Our nation's veterans bring leadership, discipline, and an unwavering commitment to every challenge they take on," said Andrea McCarren, President of the PenFed Foundation for Military Heroes. "Those same qualities make them exceptional entrepreneurs. This study shines a spotlight on the cities that are creating real opportunities for veterans to thrive as business owners."
What's next:
The Veteran Entrepreneur Program has accelerators in Bentonville, Ark. and Tysons, Va, and will expand to San Antonio, Texas and Pittsburg, Pa. in 2026.
By the numbers:
The national nonprofit PenFed Foundation for Military Heroes was founded in 2001 and supports veterans in their transition from service to success in civilian life. Affiliated with PenFed Credit Union, the Foundation has provided more than $55 million in financial support to veterans, active-duty service members and military families.
The Source: Information in this article was provided by the PenFed Foundation for Military Heroes and information from the Department of Veterans Affairs. This story was reported from Orlando.