A recent study conducted by “NerdWallet” analyzed 99 locations in Indiana to determine which cities are best suited for entrepreneurs. After analyzing locations with a population of at least 5,000 and at least 500 businesses, NerdWallet ranked Warsaw as the fifth best place in Indiana to start a business.

According to the website, this ranking was determined by taking into account the city’s business climate as well as the economic health of the city. These factors were measured by data provided by the U.S. Census Bureau.

Warsaw was ranked among the top cities in the state, with the city boasting an average revenue per business of $4.72 million — the third highest in the study. The study did note that Warsaw has a somewhat high unemployment rate at 8.4 percent, however, the city also benefits from 10.02 businesses per 100 people — a high ratio on NerdWallet’s list.

When discussing business in Warsaw, it would be remiss to not mention the numerous orthopedic businesses that act as a pulse for the city’s workforce. Warsaw, fondly coined the “Orthopedic Manufacturing Capital of the World,” is home to major orthopedic companies: Zimmer and Biomet (now Zimmer Biomet), as well as DePuy. Additional major employers include Paragon Medical in Pierceton, Tecomet and Medtronic.

Lastly, the site notes Warsaw is served by the Kosciusko County Chamber of Commerce, stating the city enjoys “a variety of benefits” from the chamber.

For more information, visit NerdWallet.