May Perfect to Promote Upton Economic Growth
Wednesday, May 04, 2022
This May is an excellent time to recognize and focus on northeastern Wyoming’s entrepreneurs and small businesses. The Upton Economic Development Board exists to serve as stewards promoting, developing, and supporting a robust Greater Upton community. This month includes two recognition weeks for just that purpose - National Small Business Week (NSBW) from May 2-6 and 2022 National Economic Development Week from May 9 - 13.
Small Business Week
The U.S. Small Business Administration (SBA) holds NSBW in the first week of May each year. The small businesses started by entrepreneurs are the lifeblood of many communities, as evidenced by the fact that 99.9% of all companies in the country qualify as small businesses and employ 47.1% of U.S. employees, per the U.S. Small Business Administration (SBA). In addition to job creation, these businesses keep money with the local citizenry, build a critical tax base that allows for various local projects and often play a significant role in defining a communities’ identity. They add character to communities, create jobs, strengthen the economy and offer unique experiences and memories for families. In addition, the Bureau of Labor Statistics Business Employment Dynamics indicates that from 2000 to 2018, small businesses created 9.6 million net new jobs, accounting for nearly 65% of all net new jobs in the U.S.
National Economic Development Week
Organizations like UEDB are excellent resources to entrepreneurs and small businesses as a critical support structure within local communities. The seventh annual National Economic Development Week (EDW) is an opportune time to reflect on the importance of regional economic development efforts to build a vibrant and sustainable community. Created by the International Economic Development Council (IEDC), EDW is a chance to recognize economic developers, local leaders and organizations. They work tirelessly to recruit investors, develop businesses, create jobs, enhance the tax base and ultimately improve the quality of life of their communities. Many resources are available for those looking to participate in this year's events. The IEDC’s #EconDevWeek21Toolkit offers many ideas, while using #EconDevWeek can help amplify the value EDOs have in a community.
UEDB helps entrepreneurs
The Upton Economic Development Board works to support entrepreneurs and small businesses, focus on business retention and expansion, lead workforce development and assist with marketing and promotion to ensure the local community can achieve the highest quality of life possible. UEDB can be the first point of contact for essential resources for Upton area entrepreneurs, such as:
- Access to the Northeast Regional office of the Wyoming SBDC Network, which partners with the University of Wyoming, the Wyoming Business Council and the SBA that provides expertise and technical assistance to help entrepreneurs with all aspects of business startup and growth activities, and schedules meetings in Upton.
- Access to grant opportunities for projects that benefit or serve the Upton community.
The Upton Economic Development Board dedicates itself to helping the businesses within the local community. It is excited to bring back the efforts of the Think Upton First program initiated in 2016. Watch for more information on this program revitalization soon!
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