Entrepreneurs are key to reigniting the Heartland’s economy
Thursday, April 11, 2019
Most of the fastest growing metropolitan areas are located on the coasts. What do they have in common? Almost always, the most successful cities excel at entrepreneurship.
As a group, such metro areas have found ways to foster job creation for their residents by amassing entrepreneurs and the early-stage financing that supports the process of company formation and scale-up.
Which is why the recent State of the Heartland Factbook, published by Brookings and the Walton Family Foundation, looks closely at Heartland states’ and metro areas’ current shares of employment at young firms (five years old or less) as a core indicator of economic vitality. The higher the share, the fact book asserts, the greater the potential for future economic growth.
The Factbook finds that overall, many places in the Heartland excel on young-firm growth, but more must be done to develop entrepreneurial awareness and the skills necessary to exploit opportunities.