Fueling the Dream: How Marshall Empowers Entrepreneurs to Build a Stronger Economy

Entrepreneurship has always been a central tenet of the American Dream, and the thought that someone can turn a good idea and a little hard work (or a lot) into a thriving business has helped fuel some of this country’s biggest success stories. Given those invaluable contributions, Marshall Economic Development Corporation (MEDC) is proud to recognize the monumental impact that these dreamers and doers continue to have on the overall health of our economy. 

Large, established companies are more likely to make economic development headlines, but when it comes to job creation, smaller, newer businesses do the bulk of the heavy lifting. How much heavy lifting? For one perspective, the Bureau of Labor Statistics has found that businesses with fewer than 250 employees accounted for 55% of net job creation across firms of all sizes between 2021 and 2023. For another, the U.S. Small Business Administration found that small businesses have accounted for two thirds of jobs added to the economy in the past 25 years.  

Celebrating the entrepreneurial spirit

From either perspective, that is a significant impact, and it’s a reality we see borne out every day in our thriving business community. While Marshall is home to many large employers, our small-business community is vital to our ongoing success. For that and many other reasons, Marshall Economic Development has had a longstanding commitment to supporting entrepreneurs. We believe in the value of small businesses, and we take a number of steps to support those business owners and their employees. For example: 

• Since 2021, MEDC’s WE Align program has enhanced communication between local businesses and educators to ensure that the workforce our schools help nurture is well prepared to address the needs of the employers waiting to hire them. 
• Last year, MEDC provided a $5,000 grant earlier this year to help advance local entrepreneurship education and outreach at the University of Texas Tyler Soules College of Business. This investment will strengthen the pipeline of future business leaders while also creating opportunities for collaboration with the school’s faculty and students.  
• MEDC has also committed to supporting artificial intelligence training at East Texas Baptist University, helping educate students and build a workforce in this rapidly emerging field. 
• Along with the City of Marshall, MEDC helped secure $420,000 in grant money to support dual-enrollment opportunities at schools in the Marshall district. This funding will help create a new manufacturing and technology program of study. 
• MEDC has partnered with Greater Texas Capital Community Finance to expand access to capital for small business and entrepreneurs, and in particular for entrepreneurs who face barriers to traditional lending. 
• MEDC also continues to provide incentives including grants and forgivable loans tied to job creation and capital investment and a revolving loan fund meant to support business expansion and redevelopment projects. 

Continuing support

MEDC’s support for entrepreneurs and small-business owners will carry on well into the future. As we worked this year to update our strategic plan, we continued to seek opportunities to create systems and supports that nurture small businesses. Swoop Funding naMEDC Texas the No. 1 state in the nation for startups in 2025, and we work every day to ensure businesses of all sizes have the support they need to thrive. 

We are proud of the business community in Marshall, and of the men and women who have put in long, often thankless hours to build businesses that enhance their community and provide vital employment opportunities for the people who live here. We celebrate the success of our small-business community and pledge to support them and those who will continue this proud legacy of entrepreneurship. Contact us today to learn more about how we can help!