If you're a female entrepreneur thinking about a location for your latest business launch, and you value doing business in proximity to other women start-up founders, you might want to think out of the box a bit.

To launch in a state where lots of other women are doing the same, Georgia is the peachiest state of all.

Between 1997 and 2015, says the 2015 State of Women-Owned Businesses Report, commissioned by American Express OPEN, Georgia has reported the highest incidence of the founding of women-owned businesses. Second place goes to Texas, with North Carolina, North Dakota, and New York rounding out the top five.

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Here's the story told by the numbers, which came from the U.S. Census Bureau:

Top 5 fastest-growing women-owned businesses, 1997-2015:

  • Georgia: 132 percent

  • Texas: 116 percent

  • North Carolina: 98 percent

  • North Dakota: 89 percent

  • New York: 89 percent

Bottom 5 slowest-growing states:

  • Alaska: 14 percent

  • West Virginia: 26 percent

  • Iowa: 27 percent

  • Kansas: 32 percent

  • Maine: 36 percent

The report then created a formula that included revenue and employment along with the pure growth rate in women-owned businesses. That ranking, which was defined as economic clout, revealed that North Dakota, Wyoming, Arizona, Georgia, Washington, D.C., and Nevada floated to the top of the list.

And how about the top five cities for women-owned business growth? This could be of more value for women who enjoy the delights of the big city. The survey said San Antonio, Portland, OR, Houston, Atlanta and Riverside, CA would be the best places to get a one-way plane ticket to.

Overall, the growth in women-owned businesses is propelled by the economic recovery, the report said. The 9.4 million women-owned U.S. businesses represent 30 percent of all businesses which employ nearly 8 million people. Women founded 887 new companies in 2014.

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Dan Cook

Dan Cook is a journalist and communications consultant based in Portland, OR. During his journalism career he has been a reporter and editor for a variety of media companies, including American Lawyer Media, BusinessWeek, Newhouse Newspapers, Knight-Ridder, Time Inc., and Reuters. He specializes in health care and insurance related coverage for BenefitsPRO.