Memphis is kicking things up a notch for local entrepreneurs with the latest effort to boost the city's economic growth. Launched in tandem by the City of Memphis and the Economic Development Growth Engine (EDGE), the "Entrepreneurship City: Where Grit Meets Growth" initiative was announced at the third annual Small Business Loan Expo, as reported by the City of Memphis government website. Memphis Mayor Paul A. Young was present to deliver the keynote and formalize the initiative's commencement.
In a city where dreams are just as vital as the concrete of its infrastructure, the new initiative is staking its reputation on a promise to back the entrepreneurs who are shaping Memphis's future. The campaign materializes with a wide citywide visibility, spelling out their message on billboards and digital displays. EDGE's offerings are substantial, having dished out more than $2.7 million in forgivable loans across over 120 businesses—an effort to not just start ventures but also to scale them.
"Entrepreneurship City is more than a campaign, it’s a commitment to the builders, the dreamers, and the doers who make Memphis move," Mayor Young declared in a statement to the City of Memphis. According to the initiative's champions, this is about bringing together the people, programs, and potential under a singular banner—an effort to turn Memphis into a beacon for business ventures of every stripe and stature.
The program's reach isn't limited to the usual suspects in business suits. Kidpreneurs are getting a slice of the pie as well, thanks to partnerships with educational entities like Junior Achievement of Memphis and the Mid-South. These fledgling business minds won't just be getting praise and encouragement but also visibility, with their products landing as gifts in the hands of executives from large companies moving to Memphis, taking advantage of EDGE’s PILOT and TIF programs. "Beyond a campaign, this is a movement," EDGE President and CEO Dr. Joann Massey remarked, a nod to the comprehensive nature of the initiative, as noted by the City of Memphis.
