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Gov. Nixon hosts entrepreneur roundtable in Kansas City to highlight Missouri leading nation in new business creation, lowest unemployment in nearly a decade

KANSAS CITY, Mo. – Following this week’s jobs report showing Missouri’s unemployment rate dropping to its lowest point in nearly a decade, Gov. Jay Nixon today visited Think Big Coworking inKansas City to discuss how Missouri is leading the nation in new business creation. Recent data from the U.S. Census Bureau shows that the vast majority of states saw a drop in the number of new firms created, while new business creation in Missouri surged by 16 percent, more than any other state in the nation.

After touring the facility, Gov. Nixon led a roundtable discussion to hear from entrepreneurs, small business owners and local economic development leaders.

“While the rate of new start-ups has stalled in most states, here in Missouri we’re making targeted investments to grow businesses and create jobs,” Gov. Nixon said. “Small businesses are the engine of our economy, so I’m very proud that Missouri leads the country in new business creation.”

Earlier this week, the November jobs report released by the Missouri Department of Economic Development shows that Missouri’s unemployment rate has dropped to 4.7 percent, lower than the national average and at its lowest level since 2006.

Data recently released by the U.S. Census Bureau and analyzed by the Kauffman Foundation, shows that there were 1,293 more businesses created in Missouri in 2013 (the most recent year for which data is available) than in 2012, an increase of more than 16 percent. Over the same time period, 39 states saw a decrease in new business creation. Of the states that did see an increase in the number of new businesses, Missouri outperformed them dramatically – experiencing a bigger growth in new business creation than all ten of those states combined.

In Fiscal Year 2015, Missouri ranked – for the first time – as a top ten state for startup funding, according to Forbes. The Fiscal Year 2016 budget signed by Gov. Nixon includes $18.3 million for the Missouri Technology Corporation, a public-private partnership that promotes entrepreneurship.

Created in 1994 to promote entrepreneurship and foster the growth of high-tech companies, the Missouri Technology Corporation has provided more than $24 million to 70 start-ups under Gov. Nixon’s leadership, helping these companies leverage more than $200 million in private capital to commercialize their products and services, create jobs and grow.

In Fiscal Year 2016, MTC is providing $1.19 million in grants for three Kansas City organizations that provide valuable resources to local entrepreneurs. These grants include a $500,000 grant to Digital Sandbox, and a $125,000 grant to the Independence Economic Development Council. These grants will help these organizations provide mentorship, facilities and co-working spaces, access to capital, and other valuable resources to the region’s startup community. The MTC is also providing a $565,000 grant to LaunchKC, which is making $150,000 available to three firms located in Think Big Coworking, including KC Drone, Blooom, and Nodal Security.

For more information about the Missouri Technology Corporation and other efforts to support small businesses and entrepreneurs, visit MO.gov