Colorado is still a hub for entrepreneurs and young companies, but we’re not exactly the startup state we were last year.

Texas, California and New York have all pulled ahead in the annual state rankings of startup activity released by the Ewing Marion Kauffman Foundation.

The stagnation ranks Colorado fifth for startup activity out of the 25 largest states by population. In 2015, we stole No. 2 behind Florida in the Kauffman Index of Startup Activity.

State startup activity ranking out of the 25 largest states by population

1. Texas
2. Florida
3. California
4. New York
5. Colorado
6. Arizona
7. New Jersey
8. North Carolina
9. Missouri
10. Louisiana

The report released Thursday shows Colorado is adding entrepreneurs slightly slower year over year. The Denver metro also saw a dip in startup activity.

Denver went down four spots from the 2015 index to being ranked No.9 out 40 population centers in the U.S.

Metro startup activity rankings

1. Austin
2. Miami
3. Los Angeles
4. San Francisco
5. Las Vegas
6. New York
7. Houston
8. San Jose
9. Denver
10. Phoenix

Overall, Colorado and Denver are doing pretty well in the country for generating new businesses. Gov. John Hickenlooper bragged as much in the forward he wrote for the Kauffman foundation.

“Colorado and many of its cities have consistently been among the top places in the nation for startup activity, and there are many reasons why. For one, the risk-taking of entrepreneurs is part of the spirit of Colorado and the West. Pushing the frontiers of innovation, technology, and job creation are part of our cultural DNA,” Hickenlooper wrote.

“Moreover, our state has the talent, great quality of life, and collaborative spirit that people dream of when they are working to make their businesses a reality.”

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