According to a new study, Cheyenne is one of the best places in America for new businesses. The Capital City ranked 7th out of 182 metropolitan areas nationwide.

The study compared each city based on several categories, including the long-term survival rate for new businesses, access to resources, and affordability. Cheyenne ranked second for the best "business environment" and 40th for the cost of starting a business.

Casper also scored high marks in the study, finishing 17th. Billings, Mont. ranked just behind Cheyenne in 8th, while Denver came in 12th place.

Oklahoma City was crowned the best city to start a business, followed by Austin, Texas, Sioux Falls, South Dakota, Missoula, Montana, and Durham, North Carolina.

Warwick, Rhode Island ranked last for new business development. Nashua, New Hampshire, Columbia, Maryland, Manchester, New Hampshire and Pearl City, Hawaii rounded out the bottom five.