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Cleveland, Big Apple among best for doing business

New York City and Cleveland, two cities with troubled pasts, are among the best cities for business in rankings released Monday by Fortune magazine.

New York, once more a "shrine to capitalism" because of dramatic improvements, topped the 1997 list for North America. Cleveland was rated sixth for shaking its image as the "Mistake by the Lake."

"Indeed, while all the cities included in Fortune's list this year have improved, Cleveland, once the butt of many a joke, may have come the furthest," it said.

Dublin, Ireland, headed the list for Europe; Kuala Lumpur, Malaysia, was rated as the best in Asia, and Santiago, Chile, was the place to be in Latin America.

In North America, Denver was No. 2 for a second year, followed by Boston (up from No. 13), Seattle (No. 1 in 1996) and Raleigh-Durham, N.C., (No. 5 in 1996).

In its ninth year of rankings, appearing in the Nov. 24 issue, Fortune focused on the most improved cities and measured how well municipalities had taken advantage of the thriving economy, now in the seventh year of an expansion.

Cleveland was followed on the North American top 10 by Indianapolis in seventh place, Toronto, Atlanta and Richmond, Va.

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