Corridor Native Spring 2018

STARTUP
CULTURE
HOT
IN CORRIDOR
By Emery Styron
BY THE NUMBERS
The Marion-based Kirkwood
Small Business Development Center
enjoyed a big 2017:
What economist John Maynard Keynes called “animal spirits” are rampant
in the Corridor, if the traffic through Scott Swenson’s office door is any
indication.
“It was a record year in almost all aspects,” said Swenson, who counseled
380 entrepreneurs and small business owners last year as director of
the SBA’s Marion-based Kirkwood Small Business Development Center.
High points included 30 businesses started, 244 jobs created, $7.6 million
capital invested and sales increases of $12.8 million for the center’s clients.
380 entrepreneurs
30 businesses started
244 jobs created
$7.6 million capital
invested
$12.8 million sales
increases
REGION’S ENTREPRENEURIAL CLIMATE ‘ROBUST’
“One of the main drivers now is the climate for starting a business and the
entrepreneurial culture is exceptionally robust,” Swenson said. Regional
collaboration and partnering by economic development entities is working,
he added. “As people successfully start businesses, others get more
confidence in pursuing their ideas as well.”
Five years ago, most referrals to Kirkwood’s SBDC were from banks,
but now they come from past clients and “almost every economic development
group including the city of Cedar Rapids, University of Iowa, ISU
CIRAS, NewBoCo, the EDC, Kirkwood, the Economic Alliance, NewBo
City Market, Marion and Czech Village/NewBo Main Street programs and
more,” Swenson noted.
Paul Heath, the veteran director of the UI’s Small Business Development
Center, reports activity is running ahead of last year. Just six months
4 CORRIDOR NATIVE APRIL 2018