3 Ways The Amarillo EnterPrize Challenge Supports Our Local Economy

There is no better way to facilitate growth than to foster healthy competition between entrepreneurs in the Amarillo region. When the wheels of the brightest minds in the community start to roll, they spin out ideas at a fast and furious pace that kickstarts businesses and improves our economy.

Each year, the WT Enterprise Center, in partnership with the Amarillo Economic Development Corporation, provide professional guidance and investment for regional entrepreneurs via the Amarillo EnterPrize Challenge. While this program has numerous benefits for the community, there are three that stand out:

1. The EnterPrize Challenge Creates Jobs

The program encourages entrepreneurs to start a proposed business or expand the offerings of existing businesses. Throughout the process, participants are guided through group coaching workshops, one-on-one strategy sessions, peer coaching and other invaluable resources. Whether they win the final award or not, entrepreneurs leave the program with a strong support system and the skills they need to move it forward. This creates jobs and helps keep the regional unemployment rate below the national average.

2. The EnterPrize Challenge Generates Revenue

Steady jobs and increasing sales mean increases in tax revenue. This means more money can be pumped into the community for schools, public areas, roads and much more without having to raise taxes on homeowners or businesses. These investments attract other businesses and bring new people into the community throughout the year. Over time, it becomes a self-sustaining engine of growth that gets stronger and stronger as the years go by.

3. The EnterPrize Challenge Fosters Partnerships

No business is an island unto itself in the 21st century. Businesses that understand this thrive while those that don’t struggle to survive. The EnterPrize Challenge creates bridges between businesses and industries. It also helps businesses strengthen ties with organizations including the Amarillo Economic Development Corporation. This creates a strong and stable network of entrepreneurs who can leverage their skills and knowledge not only for their benefit, but also for the business community as a whole. This makes Amarillo a powerhouse of knowledge, wisdom, experience, and raw talent that can easily compete with larger cities throughout the country.

At the WT Enterprise Center, we encourage entrepreneurs of all ages and abilities to submit their business idea in this year’s competition. Primary businesses looking to draft a business plan, better understand their goals, or bring a new product to market will reap rewards of immeasurable value so it’s not an opportunity that should be taken lightly.

Contact us today to learn more about how we can help you build a great company!

Click here to participate in this year’s Amarillo EnterPrize Challenge!

Categories: EnterPrize Challenge