The U.S. Small Business Administration announced Friday that Youngstown is among the 27 cities nationwide chosen to host the Emerging Leaders initiative.
The initiative offers support and training for established small businesses, many owned by women and minorities, and has been proved to help increase revenues, create jobs and grow communities.
Though many of the successful programs return in established cities, from Boston and Chicago to New Orleans and Honolulu, the SBA has decided to launch new Emerging Leaders efforts in places such as Los Angeles and Youngstown.
The results of the initiative show significant employment growth among participating companies with more than 900 new full-time employees, according to an SBA press release.
Participants accessed more than $26 million in new financing since graduating the program, a 27 percent increase compared with last year. In addition, participants have secured federal, state, local and tribal contracts with a cumulative total of $330 million.
More information can be viewed online at www.interise.org.