Show Me Jobs report: Young firms created 44,000 jobs, drove majority of Missouri hiring in 2018
September 18, 2019 | Rashi Shrivastava
Startups created more than 44,000 jobs in Missouri in 2018, accounting for nearly 80 percent of all new jobs in the state, according to a new report from MOSourceLink.
The Show Me Jobs report is a broader version of a similar report focused on the Kansas City market. MOSourceLink, a nonprofit resource provider for entrepreneurs and small businesses across the state, compiled the report based on data from the U.S. Bureau of Labor Statistics’ Quarterly Census of Employment and Wages.
“When we were able to tell people how many jobs were created by small firms in Kansas City, it really made a difference in terms of inspiring other people to think about entrepreneurship and to generate support for entrepreneurs in the community,” said Kate Hodel, who works on special projects for MOSourceLink.
Click here to read the full report.
The report defined startups as first-time employers that have fewer than 20 employees. It presented data related to job creation, wages and the industry concentration of early-stage companies in Missouri.
First-time employers created more than 190,000 jobs in the last four years, according to the report. That accounted for about four of every five new jobs in the state and 7 percent of total employment in Missouri.
Jobs created by the tech sector continued to grow since 2014, the data revealed. Last year, new tech firms created more than 2,000 jobs, which was higher than the average between 2014 and 2018. Tech firms also paid wages that were about $50,000 more than the state’s average wage.
Missouri was home to more than 19,000 startups in 2018, the report said. Though clustered in high-population regions like Kansas City and St. Louis, new jobs were distributed across the state. As of 2018, the health care and social assistance industry produced the most startups.
“I think it’s important to realize that these jobs are being created all across the state, by all different kinds of businesses,” Hodel said.
This story was produced through a collaboration between Missouri Business Alert and Startland News.
Featured Business
2019 Startups to Watch
stats here
Related Posts on Startland News
These leaders reinvest in other women’s success; a statewide nonprofit says they define the ‘Greater Missouri Woman’
This year’s Greater Missouri Leadership Foundation Women of the Year roster has a distinctly Kansas City flavor. Three of the four honorees at Wednesday’s luncheon event at CPKC Stadium are Kansas City women who lead within their industries and community. The list of awards and recipients includes: Civic Leader of the Year — Dr. DeAngela…
Do The Right Thing: Utopia Point extends ‘beacon of light’ to those left in the shadows, in need of care
The following profile features one of five finalists for the “Do The Right Thing” social impact pitch competition organized by the KC BizCare Office, Economic Development Corporation of Kansas City and Startland News. Finalist features will be published throughout the week. Click here to read more features. Click here to vote for your favorite finalist…
Rock Island Bridge delays opening; over-the-river entertainment hub set to debut spring 2025
The opening of a “destination landmark bridge” — set to reshape Kansas City’s West Bottoms amid an aggressive district-wide redevelopment boom — is now expected to be pushed back to spring 2025 as leaders of the Rock Island Bridge project refine plans for its public debut. “To ensure everything is in place and working at…
This emerging fintech powerhouse is on a roll; how Cyphr models what’s possible with the right backing
On the journey to closing what’s believed to be the largest pre-seed investment raised by two Black women in the fintech industry in Missouri, the co-founders of Kansas City-based Cyphr accepted the challenges in front of them and rode through noise, said Jannae Gammage. “I always knew that raising money as two Black women would…