SBA Launches Inner-City Initiative

Posted by GPorter under News
From http://blog.washingtonpost.com 6098 days ago
Made Hot by: on March 13, 2008 7:40 pm

The Small Business Administration on Tuesday announced that it has chosen 11 cities to participate in an initiative designed to stimulate jobs and growth while targeting inner-city small businesses.

The Emerging 200 plan will begin in: Albuquerque, N.M.; Atlanta; Baltimore; Boston; Chicago; Des Moines, Iowa; Memphis, Tenn.; Milwaukee, Wis.; New Orleans; Oakland, Calif.; and Philadelphia.

According to the SBA, research shows that small firms with fewer than 20 employees created 80 percent of the net new jobs in the economy between 1990 and 2003. The research also found that small businesses in inner cities added nearly three times the number of new jobs than larger companies between 1995 and 2002.