The U.S. Economic Development Administration awarded a $1.25 million grant to Springfield’s Efactory, a business resource center for entrepreneurs and startups in southwest Missouri, the Efactory announced Tuesday.
The grant will be matched by another $1.25 million in private investment, according to the release.
The funds will be used to expand the Robert. W. Plaster Free Enterprise Center, which houses the Efactory, by adding incubator space, private offices, conference rooms, training rooms and a rooftop terrace.
“The efactory at the Robert W. Plaster Free Enterprise Center is dedicated to fostering entrepreneurship in southwest Missouri,” Gov. Mike Parson said in the release. “This expansion will allow the center to serve even more entrepreneurs as they start and grow businesses, create jobs, and invest in the community.”
Since it opened in 2013, the Efactory has assisted over 900 companies and helped create over 1,500 jobs, according to the release. Seventeen companies have graduated from the Efactory’s startup accelerator program.
U.S. Sen. Roy Blunt, R-Missouri, called the Efactory a “invaluable resource” in southwest Missouri.
“This investment will help the efactory continue driving growth and innovation in Southwest Missouri,” he said. “I’m proud to see this expansion moving forward and promoting economic development in one of our state’s Opportunity Zones.”