How the KCSourceLink Resource Partner Network Fuels Economic Development

Economic development plays a vital role in our communities, fueling local job creation programs, advancing career development opportunities and improving communities’ quality of life. University Center Week is June 5 -9 for 2023, but work to support economic development spans 365 days a year. 

Here at KCSourceLink, we are proud to play a role in economic development through entrepreneur-led initiatives. Much of our work to support entrepreneur-led economic development is thanks in large part to our role as a University Center, an initiative of the U.S. Department of Commerce’s Economic Development Administration. The purpose of the University Center program is to leverage university assets to build regional economic ecosystems that support innovation and entrepreneurship, resiliency and inclusiveness. 

Each year, we help connect thousands of existing and aspiring entrepreneurs to the more than 240 Resource Partner organizations in Kansas City supporting small business creation and development. From 2019-22: 

• 3,812 classes and events from Resource Partners were published on the KCSourceLink calendar 

• 8,492 entrepreneurs reached out to KCSourceLink seeking assistance 
• 6,261 Personal Action Plans were created for entrepreneurs, connecting them to the right resource at the right time 
• 790 entrepreneurs reported moving forward with starting their business 

To be successful, entrepreneur-led economic development takes a community of people and organizations working towards a common goal. We are thankful to the entrepreneurs, partners and more who help to preserve, revitalize and build our region through entrepreneurship. 

Interested in learning more about entrepreneur-led economic development? Here are some good reads on entrepreneurship’s impact on economic development: 

• KCSourceLink “We Create Jobs Report” – “We Create Jobs” is a report from KCSourceLink that quantifies the impact of new in young firms to Kansas City’s economy. A highlight of our most recent report found that first-time employers who employed fewer than 20 employees created 19,849 new jobs in the Kansas City area in 2021.  
• Research: How Entrepreneurship Can Revitalize Local Economies – Professors Suntae Kim and Anna Kim highlight results from an eight-year investigation into two organizations in Detroit. They make a case for founders to “scale deep” – a slow-growth model where startups are strongly embedded into the local communities where they work. 
• Building Wealth Through Entrepreneur-led Economic Development – This 2021 presentation from our friend Dr. Lomax R. Campbell from Third Eye Network highlights the potential of entrepreneurial ecosystems in building wealth for families, communities and regions. 
• Entrepreneur-Led Economic Development: A New Strategy for Generating Local Growth and Productivity – This piece from the Manhattan Institute highlights the roles of policymakers, funders and service providers in fostering economic development through entrepreneurship.