Small business is big business in Utah. Our state is home to more than 58,000 small employers with 500 employees or fewer.
Salt Lake Community College, the governor's office and regional business-service providers are working together through the Goldman Sachs 10,000 Small Businesses initiative to bolster Utah's economy and provide business resources for the creation, growth and recruitment of companies to Utah.
Gov. Gary Herbert has taken on the tremendous task of creating 100,000 jobs in 1,000 days. As the education partner for the Goldman Sachs program, Salt Lake Community College plays a lead role in that vital effort.
This national education program provides training for business owners who have survived the start-up phase and are poised for growth. Participants receive a full scholarship, which includes comprehensive business management education, a suite of customized support services, opportunities for peer-to-peer counseling and networking and access to capital.
Salt Lake Community College's first class consists of 33 Utah business owners, who represent a broad range of industries, including retail, manufacturing, construction, medical, transportation, information technology, media, and human service areas.
Goldman Sachs chose Salt Lake Community College because of our commitment to advance economic and workforce development. Business partnership programs are offered and supported at each of our 13 sites, with our Miller Campus having the unique distinction as a one-stop shop for business services.
The college's first cohort of 33 companies has already created more than 80 new jobs a remarkable accomplishment with just months of training.
Goldman Sachs plans to invest $15 million in Utah over the next five years for this program. Through this collaboration, Salt Lake Community College will potentially serve more than 350 regional businesses. Our state's leadership is strong, our business community is growing and our business-support providers are exceptional at encouraging the entrepreneurial spirit.
Together, through the Goldman Sachs 10,000 Small Businesses initiative, Salt Lake Community College and our partners will create sustainable outcomes and more vibrant communities for Utah.
Cynthia A. Bioteau is president and CEO of Salt Lake Community College.