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Young firms drive job creation
On September 14th, the Kauffman Foundation published a report titled “The Importance of Young Firms for Economic Growth”, showing that young and growing companies have accounted for nearly all net new job creation in the economy in the eight years of recovery since the Great Recession. These results mirror past research findings showing that these firms were virtually the exclusive engines of job growth prior to the recession as well. These rapidly-growing companies are precisely the target market of community development venture capital funds, which focus on job-creating growth investments in under-invested urban and rural communities throughout the nation.