Tuesday, November 07, 2017

UTSA Institute for Economic Development generates $1.9 billion in direct economic impact

UTSA Institute for Economic Development generates $1.9 billion in direct economic impact

(Feb. 3, 2017) -- The UTSA Institute for Economic Development continues to create jobs, spur business growth and promote economic development. As reported in its newly released 2016 annual report, the Institute had a $1.9 billion direct economic impact nationwide.

During the 2016 fiscal year, the Institute:

  • Served 41,359 business and community clients
  • Provided trainings and workshops to 28,720 participants
  • Managed 8,009 consulting cases
  • Helped launch 591 new businesses
  • Help expand 531 existing businesses
  • Supported the creation of 7,517 new jobs and the retention of 7,442 jobs

Overall, the Institute is comprised of 10 centers and programs dedicated to creating jobs, growing businesses and fostering economic and community development, and serves greater San Antonio, the Texas-Mexico border area and regional, national and international stakeholders.

Last year, businesses such as San Antonio-based Silotech Group Inc. and Elevate Systems tapped the Institute's expertise to promote growth.

Silotech Group Inc, an IT firm providing services to the federal government, armed forces, e-Business and Fortune 1000 industries, worked with the Institute's MBDA Business Center San Antonio to build strategic and collaborative relationships for the company within federal and state markets. The company has operated in Texas for eight years with a dedication to customer service, quality and integrity.

Elevate Systems, which specializes in engineering designs and has completed projects for the U.S. military, contacted UTSA's SBDC Procurement Technical Assistance Center (PTAC) for strategic guidance, assistance in building a resource network and acquiring appropriate certifications. Now in its fourth year, Elevate Systems has diversified into commercial design markets and has expanded to take on more projects.

"We are strong advocates for PTAC because we understand their value. They really know what they are doing and truly care about helping small businesses grow," said Maricela Gray, CEO of Elevate Systems.

With an emphasis on scale-up growth industry clusters and technology commercialization, the Institute builds on its core strengths in business start-up, manufacturing competitiveness, high-growth minority businesses, international trade and investment, government contracting and corporate supply chains, rural development, applied economics and development policy research, and shale energy economic research.

Notably, the Institute is also leading the expansion of the Small Business Network of the Americas, an initiative that has encouraged 20 western countries to adopt UTSA's Small Business Development Center (SBDC) methodology. The SBDC model has evolved over 35 years at 1,100 universities and colleges across the U.S. and has become an international best practice. As a result, business planning and growth services are more accessible to business owners and entrepreneurs now than ever before.

"Our motto, 'Building the economy one business at a time,' guides the quality and effectiveness of Institute services, yet is scaled massively to strengthen Texas here at home, and build key international market connections with our partners internationally," said UTSA Sr. Associate Vice President for Economic Development Robert McKinley.

UTSA Vice President for Community Services Jude Valdez added, "Tier One universities strengthen the communities they serve through their time, their expertise and their commitment to providing impactful programs and services. The Institute for Economic Development is a valuable resource that is making a big impact. It's growing small to mid-sized businesses. It's launching new businesses. And it's sharing best practices to strengthen the international economy. This is what Tier One is all about."

UTSA is ranked among the top 400 universities in the world and among the top 100 in the nation, according to Times Higher Education.

- Jennilee Garza

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Learn more about UTSA Institute for Economic Development.

Read the 2016 Institute for Economic Development Annual Report.

Connect with UTSA online at Facebook, Twitter, Vimeo and Instagram.




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