Entrepreneurial ventures and research and development bring new products and services. New products and services expand existing markets and create new industries, resulting in job creation.
The City of Columbia aggressively works to increase job creation and retain existing jobs in two ways:
(1) offering low interest loans and grants; and,
(2) providing access to business expertise (technical assistance, education and advocacy)
In 2014, OBO's Commercial Revolving Loan Fund leveraged $380,000 in public dollars to attract $1,881,000 in private investment, creating and retaining 23 jobs. Over 68% of these funds went to women owned businesses, and 37% went to minority owned businesses.
During 2012-2014, the Facade Improvement Program for the North Main Corridor leveraged $289,398 in federal dollars to attract $369,121 in matching private investment, created 20 new jobs and retained 131 existing jobs, to help revitalize this gateway corridors leading into the Columbia's downtown. During this same time period, additional private development along the corridor is valued at approximately $380,350.
Contact Office of Business Opportunities at 803.545.3950