The UTSA Institute for Economic Development (IED) generated an overall direct economic impact of $3 billion for the Texas economy in 2021. Among the programs that are part of this multibillion-dollar impact are two initiatives set up by the institute to assist small business owners and entrepreneurs with COVID-19 pandemic relief, including financial assistance via the Small Business Administration Paycheck Protection Program (PPP) and Economic Injury Disaster Loans (EIDL) assistance.

During the 2021 fiscal year, the Institute: Served 40,693 business and community clients; Provided trainings and workshops to 26,020 participants; Delivered 10,329 consulting cases; Helped start up 469 new businesses; Helped scale up 496 existing businesses.

As businesses locally, statewide and around the nation continue to work to gain strength in the midst of the pandemic, the IED is guiding clients and advising constituents on how to rebuild and move forward.

Rod McSherry, UTSA associate vice president for Innovation and Economic Development stated, “Our annual report is full of stories that demonstrate the success one can achieve—even in tough times—when we have the will and access to resources. Our Institute at UTSA provides resources to help many Texas small businesses get started and continue growing. This growth is important to Texas because these small businesses are the economic engine of our great state.”