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
UMKC top student entrepreneur’s refrain: It isn’t how many ideas you have, it’s what you do with them
Improvising is vital in jazz and entrepreneurship, noted Tate Berry, UMKC Student Entrepreneur of the Year. A double major in jazz studies and business administration, Berry is well-versed in both. “Composing music is a very long collaborative creative process, which has given me the skills to look at intricate problems from a distance and develop…
Marsha Willis joins Facebook accelerator to boost 30K-strong community of Black-owned businesses, supporters
Marsha Willis’ decade-long journey of supporting Kansas City-based, Black-owned businesses is headed to the next level — thanks to a funding infusion from Facebook and Willis’ own focused commitment to providing elevated experiences to the online community she’s built. “Our focus is to create a centralized place where we can share resources and education for…
The Popper drips with KC: Why this award-winning brand won’t quit ‘until the aliens on other planets know’ his city
Walter Edwin is better known as the Popper, but it might as well be “KC,” he said. His love for Kansas City has inspired both his music career and award-winning apparel business. As a performer, he’s rapped about his hometown on his singles “I’m KC” and “For the City,” and as a collaborator on Tech…
10 finalists vying for ‘Fan Favorite’ in AltCap Your Biz competition; Here’s how to vote
AltCap’s marquee GEWKC competition for emerging entrepreneurs is returning in November, but fans of the businesses can cast votes now to determine a $2,500 “fan favorite” winner at the coming pitch event. Ten finalists for the AltCap Your Biz competition were announced this week. The live pitch day is set for Nov. 17 at iWerx…