Univ. of Mo. Extension business program creates, retains 24,000 jobs, $1 billion in sales increases
Business Development Program is a solid return on investment
By: MU Extension Business Development Program
From 2014-16, the University of Missouri Extension Business Development Program (BDP) assisted Missouri companies with technical assistance and education resulting in the following results:
Jobs, new or retained 23,927
· Increase in sales $900 million
· Investment $436 million
· Government contracts $1.1 billion
This represents one job created or retained for every $844 in total funding, and $120 of total economic impact for every $1 invested. This is a return of $2.43 billion for a federal, state and local investment of $20.2 million.
"Small businesses are the economic lifeblood of our state and nation," said Steve Devlin, BDP director. "And these impressive results validate what independent economic development research has said for some time -- that the BDP is a solid return on investment and fuels the innovative and entrepreneurial companies that sustain our communities."
The BDP consists of the Missouri Small Business & Technical Assistance Centers (MO SBTDC), the Missouri Procurement Technical Assistance Centers (MO PTAC, which assists with government contracting)
With partners and locations in Kansas City, St. Louis, Columbia and throughout Missouri, the BDP is well positioned to connect educational resources with business needs. The BDP also celebrated its 50th anniversary (https://missouribusiness.net/
For more information on the BDP, see missouribusiness.net.