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
Missouri cannabis company grows into flower, buying massive Kansas City grow facility
A Springfield-based cannabis company is acquiring a massive growing and manufacturing facility in Kansas City, positioning Show-Me Organics as a vertical player in the budding Missouri marijuana market. The deal to purchase the local 80,000-square-foot cannabis operation from Holistic Industries — one of the nation’s largest, private multi-state operators in the cannabis industry — is…
THC-infused lemonade squeezes into market as ballot push unbottles potential for 2M Missouri cannabis customers
Blending the classic and comforting flavor of lemonade with the benefits of marijuana is like mixing oil and water, said Michael Wilson. But Franklin’s Stash House persisted, spending the time and money to perfect the process behind its THC-infused lemonade, he said. “Our water soluble formula has been our biggest investment — and really the…
‘This is our era’: How one local streetwear brand got the ball rolling for an exclusive KC Comets collab
Soccer fans can kick off their weekend with a one-day-only sale of a limited-edition apparel collaboration between Kansas City’s premier indoor soccer team and its top streetwear brand, said Vu Radley. “We found this really cool, creative space with the KC Comets where we could pay homage to their vintage jerseys and mix it with…
Not all shops will be riding high if Missouri legalizes recreational cannabis, but even imperfect expansion ‘far worth the effort,’ advocates say
Legalizing recreational marijuana would have potent outcomes across the state if Missouri voters approve a constitutional amendment Nov. 8, but some cannabis advocates and small business owners say not all strains of success will be equal. On one hand, Missouri’s Amendment 3 would expunge the criminal records of people with past non-violent marijuana charges and…