Entrepreneurial Stewardship

Providing an environment that is supportive of entrepreneurs and small businesses is critical to promoting economic mobility for residents, neighborhood revitalization, and the overall economic success of the City. This key initiative focuses on removing barriers to small businesses and encouraging creative work opportunities that build on Springfield’s existing assets, industries, and context. This includes live-work districts, maker space, co-working spaces, and innovation districts that support arts-oriented, collaborative, and/or self-starter business opportunities. Expanding access to capital and City programs will also be key in helping businesses of all backgrounds get a more equitable chance at success in the community.

Southern Missouri Innovation Network

The Southern Missouri Innovation Network combines the expertise and resources of two of the state’s most successful innovation hubs and over a dozen communities to accelerate workforce development, job growth, and support the next generation of industry-leading companies in the 47 counties in Southern Missouri.

Commercial Loan Program

The City of Springfield has operated a Commercial Loan Program (CLP) since 1984, capitalized by the federal Community Development Block Grant program. All loans must be used to further the United States Department of Housing and Urban Development’s priorities of either creating jobs benefiting low-to-moderate income persons or removing slum and blight. Since the adoption of Forward SGF, the Commercial Loan Program has assisted businesses in the following ways:

In November and December of 2022, the CLP assisted in the acquisition of a building in Downtown Springfield that after rehabilitation will create eleven full time equivalent jobs. The program also assisted a small business owner with working capital funds, bringing the total amount of loans provided to businesses through the CLP in 2022, $420,000.

In 2023 the CLP assisted five different businesses with the acquisition of buildings in Downtown Springfield and on Commercial Street. A total of eighteen full time equivalent jobs are expected to be created because of these investments. In addition, a small business owner was assisted in purchasing equipment, bringing the total amount of loans provided in 2023 to $1,914,386.

To learn more about economic vitality in the City of Springfield, visit https://www.springfieldmo.gov/5639/Economic-Vitality.