Investing in the Delta: Small Business and Entrepreneurship

Delta Regional Authority

Investing in the Delta:Small Business and Entrepreneurship

April 2014

Creating Jobs. Building Communities. Improving Lives.ALABAMA • ARKANSAS • ILLINOIS • KENTUCKY • LOUISIANA • MISSISSIPPI • MISSOURI • TENNESSEE

The Idea Village is a leader in identifying, supporting, and retaining entrepreneurial talent in New Orleans. With New Orleans Entrepreneur Week and the Entrepre-neur-in-Residence program, The Idea Village is growing a strong entrepreneur ecosystem in the Crescent City.

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TROUSDALE

U N I C O I

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V A N

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WASHINGTON

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W E A K L E Y

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21

3

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6

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17

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15

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29

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3132

27

26

25

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13

18

2120

19

22

12

11

Color indicates DRA Service Area

Color indicates 2013 SEDAP Projects

Investments in the Delta1

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Investing in the Delta:Small Business and Entrepreneurship

1. West Frankfort, IL 2. Harrisburg, IL 3. Carbondale, IL 4. Mound City, IL 5. Cairo, IL 6. Perryville, MO 7. Cape Girardeau, MO 8. Mountain Grove, MO 9. Sikeston, MO10. Poplar Bluff, MO11. West Plains, MO12. Henderson, KY13. Martin, TN14. Paris, TN15. Parsons, TN16. Memphis, TN17. West Memphis, AR18. Forrest City, AR19. North Little Rock, AR20. Helena-West Helena, AR21. Pine Bluff, AR22. El Dorado, AR23. Greenwood, MS24. Inverness, MS25. Springhill, LA26. Ruston, LA27. Ferriday, LA28. Grant Parish, LA29. Alexandria, LA30. Baton Rouge, LA31. New Orleans, LA32. Cameron Parish, LA

2 Delta Regional Authority – Small Business and Entrepreneurship Investments

*DRA Investment = Total Project Cost**FY 2013 SEDAP/RCAP Project

Supporting a Small Business and Entrepreneurial Ecosystem

DRA Investments into Small Business and Entrepreneurship

RegionwideAccess the Delta (RCAP)Series of workshops designed to increase entrepreneurs’ access to affordable capital through technical training from local SBDCs, SBA, USDA, and DRA staff.*DRA Investment $ 30,000

Mid-South Minority Business Council Continuum (RCAP)**Expansion of MMBC Continuum business development for minority and women-owned business enterprises to six communities across the Delta region.DRA Investment $ 250,000Leveraged Public Investment $ 186,000

Total Project Cost $ 436,000

Operation Jumpstart Online (RCAP)**Creation of online training modules for Operation Jumpstart curriculum, increasing access of pro-gram to entrepreneurs throughout Delta region.DRA Investment $ 262,323Leveraged Public Investment $ 32,839

With more than 4.5 million jobs in the Delta region supporting a population of double this amount, our small businesses and entrepreneurs are critical to the success of the Region’s economy. In fact, DRA’s research bulletin, Jobs and Small Businesses, found that in the Delta 91 percent of all net new jobs created over the past two decades came from locally-owned establishments with nine or fewer employees.

In an effort to strengthen our Delta communities, the Delta Regional Authority has made investments into building a vibrant ecosystem for small businesses and entrepreneurs a priority since 2010. By investing in support services for existing small businesses and creating an innovative environment that allows entrepreneurs to create new businesses, the DRA is putting

greater emphasis on small business development as a local economic development strategy.

The DRA focuses policy efforts toward small business and entrepreneurship in five key areas: 1) Developing a Pipeline of Educated and Skilled Entrepreneurs 2) Cultivating Technology Exchange and Innovation 3) Improving Access to Affordable Capital 4) Promoting Awareness and Advancing Market Opportunities 5) Optimizing the Regulatory Environment

Each of these areas provides the support necessary to create a region where small businesses and entrepreneurs can thrive, continue to create good-paying jobs, and bring economic growth to the Delta.

DRA’s investments in small business and entrepreneurial communities throughout the Delta provide economic development and jobs to the Region’s communities and people.

Delta Regional AuthoritySmall Business and Entrepreneurship Investments 2002-2013

DRA Investment $ 8,679,438 Leveraged Public Investment $ 15,265,630 Total Project Cost $ 24,347,463 Leveraged Private Investment $ 894,000 Jobs being Created and Retained 1,262 Entrepreneurs and Business Owners Being Trained 1,444

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Total Project Cost $ 295,162

Rural Entrepreneurial DevelopmentPhase I (RCAP)Operation Jumpstart program provided to communities across Delta.*DRA Investment $ 280,000

Rural Entrepreneurial DevelopmentPhase II (RCAP)Operation Jumpstart program provided to communities across Delta.*DRA Investment $ 249,653

West Frankfort, IL (1)West Frankfort Business Incubator Sprinkler System (SEDAP)**Installation and repair of non-functional sprinkler system throughout the West Frankfort Business Incubator. DRA Investment $ 47,250Leveraged Public Investment $ 5,000Total Project Cost $ 52,250

West Frankfort Business Incubator Electrical Upgrade (SEDAP)Insulation and 3-phase power made available to the tenants in the city-owned incubator.DRA Investment $ 52,500Leveraged Public Investment $ 51,125Total Project Cost $ 103,625

West Frankfort Incubator Renovation (SEDAP)Renovation and construction to allow for cre-ation of new business and expansion of Wallace Industrial Products with new warehouse space.DRA Investment $ 150,000Leveraged Public Investment $ 50,000Total Project Cost $ 200,000

Harrisburg, IL (2)Expansion of Trelleborg Automotive Molding Plant (SEDAP)Expansion of production space by 4,480 square feet for an additional molding press. DRA Investment $ 75,000Leveraged Public Investment $ 167,000Total Project Cost $ 242,000

Carbondale, IL (3)Operation Jumpstart (RCAP)Entrepreneurial training for communities in southern Illinois facilitated through Southern Illinois University.*DRA Investment $ 200,000

Student Innovation Incubator (RCAP)A supportive enviroment for students at Southern Illinois University to learn, explore, create, and manage their business passions leading to job creation.DRA Investment $ 50,000Leveraged Public Investment $ 50,000Total Project Cost $ 100,000

Wet Laboratory for SIU Small Business Incubator (SEDAP)Conversion of existing space on the first floor of the SIU Small Business Incubator to a wet laboratory with equipment and bench space.DRA Investment $ 70,000Leveraged Public Investment $ 145,369Total Project Cost $ 215,369

Mound City, IL (4)Business Incubator Construction (SEDAP)Conversion of a 12,000 square-foot building into a business incubator for Pulaski County.DRA Investment $ 101,115Leveraged Public Investment $ 1,025,000Total Project Cost $ 1,126,115

Cairo, IL (5)Building Renovation for Small Business Enterprises (SEDAP)Remodeling of the former Port of Cairo Building, the construction of offices, a conference room, call center area, and handi-cap accessible restrooms within the building.DRA Investment $ 150,000Leveraged Public Investment $ 150,000Total Project Cost $ 300,000Leveraged Private Investment $ 15,000

Perryville, MO (6)Building Purchase for Incubator (SEDAP)Purchase of a building in the Terre Bonne Industrial Park that has 20,000 square feet and

4.5 acres. Office space will cover approximately 1,700 square feet and production space will cover approximately 17,200 square feet.DRA Investment $ 60,000Leveraged Public Investment $ 340,000Total Project Cost $ 400,000

Revolving Loan Program (SEDAP)DRA Investment $ 200,000Leveraged Public Investment $ 10,000Total Project Cost $ 210,000

Cape Girardeau, MO (7)Accelerating Entrepreneurship in the Delta (SEDAP)Four six-week “Operation Jumpstart” classes offered in locations in the Missouri Delta based on areas of greatest need and demand.DRA Investment $ 153,903Leveraged Public Investment $ 25,000Total Project Cost $ 178,903

Entrepreneurial Training for Southeast Missouri (SEDAP)Business management training to support local entrepreneurs.DRA Investment $ 226,805Leveraged Public Investment $ 93,963Total Project Cost $ 320,768

Growing Missouri’s Local Small Businesses (SEDAP)Twenty classes aimed at existing business owners and staff who work with ten clients to help them manage their growth.DRA Investment $ 63,032Leveraged Public Investment $ 21,000Total Project Cost $ 84,032

Innovation Center Renovation Phase I (SEDAP)Renovation of third floor of the Business Incubator for space and support to nurture entrepreneurs in starting and growing businesses in southeast Missouri.DRA Investment $ 191,695Leveraged Public Investment $ 20,000Total Project Cost $ 211,695



JumpStart Missouri CommunitiesPost Flood: Entrepreneurial Workforce Initiative (SEDAP)A one-year program to help rural communities rebound from the economic impact of one of the most severe floods in decades. DRA Investment $ 145,556Leveraged Public Investment $ 25,000Total Project Cost $ 170,556

Operation Jumpstart (SEDAP, RCAP)**Entrepreneurial training through Southeast Missouri State University.*DRA Investment $ 213,881 SEMO Innovation Center Commercial Kitchen (SEDAP) Replacement of older food service equipment and acquisition of critical pieces of new equip-ment for the shared-use commercial kitchen. The commercial kitchen provides technical training, business management counseling, entrepreneurial/management training, intern-ships and faculty and student resources.DRA Investment $ 101,000Leveraged Public Investment $ 35,200Total Project Cost $ 136,200

Mountain Grove, MO (8)Mountain Grove Central Business Association Business Incubator (SEDAP)Purchase and rehabilitation of a building for a business incubator in South Central Missouri.DRA Investment $ 199,950Leveraged Public Investment $ 13,472Total Project Cost $ 213,422

Mountain Grove Incubator - Phase II (SEDAP)Construction of four offices, conference room, and break room with heat/air, electrical wiring, and lighting.DRA Investment $ 57,178Leveraged Public Investment $ 5,000Total Project Cost $ 62,178

Sikeston, MO (9)Missouri Delta Ag BioworksEntrepreneurship Capacity Program (SEDAP)Program will provide the ways and means to establish the production and processing of new crops to meet the growing demands of the global economy. It will support farmer-owned domestic and international investment projectswhile creating new jobs in the ag-bio economy.DRA Investment $ 75,000Leveraged Public Investment $ 138,961Total Project Cost $ 213,961

Poplar Bluff, MO (10)Three Rivers College Mobile Training Lab(SEDAP)Purchase of a mobile training lab to be used by the Three Rivers College to provide training throughout its 14-county service area.DRA Investment $ 200,000Leveraged Public Investment $ 132,244Total Project Cost $ 332,244

West Plains, MO (11)OzSBI IDEA Center (SEDAP)Creation of a pre-incubation space for students and young entrepreneurs to help grow their business ideas into viable entreprises that will create new jobs with higher-than-average wages for people living in the seven distressed counties of South Central Missouri.DRA Investment $ 120,400Leveraged Public Investment $ 51,674Total Project Cost $ 172,074

Small Business Growth Through Mentoring and Management (SEDAP)**Implementation of the Growth Wheel Monitor-ing tool, training six mentors who will advise 30 OzSBI clients and 40 regional businesses.DRA Investment $ 80,850Leveraged Public Investment $ 25,500Total Project Cost $ 106,350Leveraged Private Investment $ 2,000

Henderson, KY (12)Northwest Kentucky Entrepreneurship Center (SEDAP)Creation of a regional business incubator with temporary office space and business services for small businesses.*DRA Investment $ 50,000

Northwest Kentucky Forward (RCAP)Equipment purchase for the Northwestern Kentucky Entrepreneurship center.*DRA Investment $ 50,000

TN – StatewideRegional Entrepreneurial Accelerators (SEDAP)Placement of a business entrepreneurial train-ing accelerator in each of the Delta’s Jobs Base Camp regions to nurture and support entre-preneurs as they develop business plans and launch companies that have the potential to create a large number of high-wage jobs.*DRA Investment $ 485,862

Martin, TN (13)WestStar Adult Leadership (RCAP)Leadership training for existing and potential entrepreneurs and managers.DRA Investment $ 20,000Leveraged Public Investment $ 29,270Total Project Cost $ 49,270

Paris, TN (14)Paris Henry Small Business College (RCAP)Capacity-building classes for potential and existing business owners.DRA Investment $ 10,000 Leveraged Public Investment $ 10,000Total Project Cost $ 20,000

Parsons, TN (15)Small Business Incubator (SEDAP)Utilization of available building space that has four 1232 square-foot storefront-type units as a location to start a small business incubator.DRA Investment $ 64,915Leveraged Public Investment $ 30,266Total Project Cost $ 95,181

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Memphis, TN (16)Creating Jobs and EnvironmentalOpportunities (SEDAP)Coordination of five distinct parts of the agricultural and forestry supply chain to produce second-generation biofuels from bio-based chemicals.DRA Investment $ 262,784Leveraged Public Investment $ 181,588Total Project Cost $ 444,372

Ignite Center for Women Entrepreneurs (SEDAP)Creation of a mixed-use incubator for emerg-ing women-owned businesses encompassing technology and non-technology industries.DRA Investment $ 75,000Leveraged Public Investment $ 54,200Total Project Cost $ 129,200

AR – StatewideSustainable Communities Arkansas State (RCAP)Comprehensive Operation Jumpstart business development training sessions in five communi-ties in the Delta.DRA Investment $ 175,000Leveraged Public Investment $ 17,500Total Project Cost $ 217,500Leveraged Private Investment $ 25,000

West Memphis, AR (17)Delta Cuisine - A Southern KitchenIncubator (SEDAP)The kitchen incubator will serve as a catalyst for sustainable economic development in the rural Arkansas Delta by providing technical assistance to food entrepreneurs and access to facility and equipment resources for small business creation and expansion.DRA Investment $ 400,000Leveraged Public Investment $ 498,001Total Project Cost $ 898,001

Elevate Entrepreneurship Systems (RCAP)**Entrepreneurship program through Mid-South Community College to incorporate classroom training, applied learning activities, and a stu-dent-led entrepreneurship club.

*DRA Investment $ 178,875

Forrest City, AR (18)Rural Business Development CenterBusiness Incubator (SEDAP)Equipment purchase for business incubator.DRA Investment $ 75,000Leveraged Public Investment $ 164,500Total Project Cost $ 239,500

North Little Rock, AR (19)Arkansas Regional Innovation Hub (SEDAP)**The Argenta Innovation Center will include technology co-work space for entrepreneurs, maker work space for engineers, and after school and summer work program for under-resources North Little Rock teens.DRA Investment $ 201,105Leveraged Public Investment $ 2,375,000Total Project Cost $ 2,582,000

Helena-West Helena, AR (20)Thrive (RCAP)Renovation and equipping of current space at Phillips County Community College for Design Measures program, providing below-market design services to startups and entrepreneurs.DRA Investment $ 154,736Leveraged Public Investment $ 568,973Total Project Cost $ 723,709

Pine Bluff, AR (21)UAPB Business Incubator Retail Center (SEDAP)Completion of 1,500 square feet of retail space within the existing UAPB Business Support Incubator and Office Complex building for use by local small businesses.DRA Investment $ 225,000Leveraged Public Investment $ 10,000Total Project Cost $ 235,000

El Dorado, AR (22)EDIE’s Village (RCAP)The El Dorado Incubator Environment (known as EDIE’s Village) will develop student-run businesses, launch retail space for 20 local entrepreneurs to sell products, and provide

one-on-one business development and product marketing counseling to entrepreneurs in four counties of south Arkansas.DRA Investment $ 187,571Leveraged Public Investment $ 156,798Total Project Cost $ 344,369

MS – StatewideAccelerating Jobs and Innovation through Community and Economic Development in Rural Mississippi (RCAP)**Programming to link the region’s existing small businesses and entrepreneurs into the region’s strategic clusters through networking-oriented conferences at each of the sub-regional hubs. DRA Investment $ 250,000Leveraged Public Investment $ 815,000Total Project Cost $ 1,065,000

Greenwood, MS (23)Leflore County Business Incubator (SEDAP)The incubator will house five businesses serving Leflore County and surrounding communities.DRA Investment $ 250,000Leveraged Public Investment $ 1,271,557Total Project Cost $ 1,521,557

Inverness, MS (24)Town of Inverness Incubator Building Improvements (SEDAP)Renovations to a town-owned building, includ-ing some interior demolition, new flooring, doors, painting and repairs to the central heat-ing and air conditioning.*DRA Investment $ 36,500

Springhill, LA (25)Springhill Small Business Incubator (SEDAP)**New construction to the existing infrastructure for a multi-community collaborative effort tobring about a small business incubator.DRA Investment $ 100,000Leveraged Public Investment $ 300,000Total Project Cost $ 607,000



Ruston, LA (26)I-20 Corridor Regional Accelerator (RCAP)**The I-20 Corridor Regional Accelerator will integrate the community capacity building of Winrock’s Capacity Assistance for the Regional Economy (CARE) program with business and economic development led by Louisiana Tech.DRA Investment $ 250,000Leveraged Public Investment $ 714,134Total Project Cost $ 964,134

Ferriday, LA (27)Ferriday Cultural Heritage Entertainment District (SEDAP)Downtown revitalization project.DRA Investment $ 100,000Leveraged Public Investment $ 414,000Total Project Cost $ 514,000

Grant Parish, LA (28)Grant Parish - Business & Resource Development Center (SEDAP)Renovation of building for use as a business development and training center in support of entrepreneurs, workers, and job seekers.DRA Investment $ 100,000Leveraged Public Investment $ 225,000Total Project Cost $ 325,000

Alexandria, LA (29)COA Central Louisiana Business Incubator-Commercial Kitchen (SEDAP)Construction of a commercial kitchen within the existing business incubator.DRA Investment $ 100,000Leveraged Public Investment $ 186,000Total Project Cost $ 286,000

Baton Rouge, LA (30)LA Delta Region Revolving Loan Fund & Hub Zone Business Incubator (SEDAP)Hub Zone Business Incubator for those participating in the revolving loan program.DRA Investment $ 100,000Leveraged Public Investment $ 150,000Total Project Cost $ 250,000

Video Game Incubator (SEDAP)The Louisiana Technology Park will create a video game incubator for business develop-ment and attraction/creation of new companies. The program will provide the physical tools, education, and mentoring needed to create a digital interactive media company.DRA Investment $ 75,000Leveraged Public Investment $ 11,396Total Project Cost $ 86,396

New Orleans, LA (31)Bolstering Biotechnology Entrepreneurship (SEDAP) NOBIC, a wetlab incubator, will expand its technical assistance targeted at commercial-izing techonolgy to biotech start-ups.DRA Investment $ 70,000Leveraged Public Investment $ 17,600Total Project Cost $ 87,600

Idea Village (RCAP)Event during New Orleans Entrepreneur Week to engage accomplished entrepreneurs, investors, local business, and civic leaders.*DRA Investment $ 10,000

Idea Village Entrepreneur-in-Residence (SEDAP)Funding for one entrepreneur-in-residence position to provide critical technical assistance, mentorship, and access to professional and investor networks to strengthen and grow high-growth entrepreneurial ventures in the New Orleans region.DRA Investment $ 40,000Leveraged Public Investment $ 50,000Total Project Cost $ 100,000 Leveraged Private Investment $ 10,000

RiverSphere Center of Excellence for Sustainable Energy Systems (SEDAP)Creation of a testing and development hub for nascent renewable energy technologies, as well as an incubator for emerging companies.DRA Investment $ 150,000Leveraged Public Investment $ 4,350,000Total Project Cost $ 4,500,000Leveraged Private Investment $ 700,000

Cameron Parish, LA (32)Cameron Local Enterprise Assistance and Recruiting Center (SEDAP)Winrock International will convene, recruit, and mentor entrepreneurs in Cameron Parish to prepare for the significant job and workforce influx that will support Cheniere’s facility expansion in 2012-2018.DRA Investment $ 375,000Leveraged Public Investment $ 50,000Total Project Cost $ 425,000

The Delta Regional Authority compiled the above investment figures and project descriptions from its database of past and present projects funded through the Federal Grant Program (2002-2010), States’ Economic Development Assistance Program (2011-2013), and Rural Communities Advancement Program. For those projects that are active, investment and outcome totals represent the funding levels and expected outcomes agreed to between Delta Regional Authority and funding recipients.

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Documents

Investing in the Delta: Small Business and Entrepreneurship