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NYC Among Those Looking for 'FastTrac' to Recovery

Mark Marich

In times of recession, entrepreneurial activity can experience an uptick as displaced workerslook to make their own opportunities. As the unemployment rate increases across the country, NYC Mayor Michael Bloomberg and other community leaders are turning to the Kauffman Foundation's FastTrac program to train these and other emerging entrepreneurs to jumpstart the economy.

FastTrac LaunchPad is a new $1 million initiative of the Kauffman Foundation and Deluxe Corporation Foundation to provide "entrepreneurial training programs in communities... that have been hit hard by layoffs and the recession."

“Entrepreneurs will be the foundation of our nation’s economic recovery because they start and grow businesses that create jobs. The Kauffman Foundation is dedicated to providing practical tools for entrepreneur training and development to fuel this recovery,” said Carl Schramm, Kauffman Foundation president and CEO.  “The FastTrac LaunchPad initiative offers an incredible opportunity for communities across the nation, local entrepreneurs and small business owners to build businesses and create jobs.”

Other cities and states scheduled to bring FastTrac LaunchPad to their communities include: Michigan; West Virginia; Kokomo, Indiana; and, Philadelphia.

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