Businesses assisted by the Arkansas Small Business and Technology Development Center created more jobs and increased sales more than the average Arkansas business, an independent study shows.
According to the recently released 2014 ASBTDC economic impact study, businesses assisted by ASBTDC in 2012…
- Increased employment 27.1% (versus 0.1% for non-clients)
- Created 1,256 new jobs
- Retained 520 existing jobs
- Increased sales by more than $62.7 million
- Increased sales 12.4% (versus 5.1% for non-clients)
- Generated $3.7 million in state tax revenues and $3 million in federal tax revenues
“The results of this independent study illustrate ASBTDC’s value to the businesses we assist and to the Arkansas economy,” said Janet Roderick, state director. “Small businesses generate jobs and tax revenues that sustain their local communities. Year after year, annual economic impact studies have consistently shown that small businesses assisted by the ASBTDC provide significantly more economic impact than the average Arkansas small business.”
Dr. James J. Chrisman of Mississippi State University conducted the study of ASBTDC clients who received five or more hours of consulting assistance. Chrisman compared clients’ employment and sales data from the year they received assistance to the following year with the average changes for all Arkansas businesses during the same time period.
The conservative study only looks at performance for one year and does not consider the ongoing impact of the businesses.