Historic Bipartisan Compact Unites 31 Governors to Elevate Entrepreneurship Nationwide

In a groundbreaking initiative marking a significant milestone in American governance, 31 governors from across the United States have officially signed a historic bipartisan compact aimed at promoting entrepreneurship as a civic priority. This coalition emerges in response to the pressing need to invigorate the economy, especially in light of ongoing challenges faced by small businesses and entrepreneurs across the nation.

The compact, known as the Governor's Compact on Entrepreneurship, was conceived by Kevin Stitt, the Governor of Oklahoma, during his tenure as Chair of the National Governors Association (NGA). This initiative has garnered attention not only for its ambitious scope but also for its timing, coinciding with America's 250th anniversary year. The mission is clear: to renew the United States' entrepreneurial spirit by fostering an environment conducive to business creation and growth. As Maryland's current NGA Chair, Wes Moore, continues to advocate for this endeavor, there's a palpable sense of urgency.

The details outlined in the Governor's Compact provide a multifaceted approach for states to take actionable steps toward bolstering entrepreneurship. By leveraging statewide resources and formulating supportive policies, each governor is tasked with creating a landscape where innovation and economic activity can thrive. The diverse group of governors—including notable leaders from states such as New York, California, Texas, and Puerto Rico—represent a broad spectrum of political affiliations and geographical areas, emphasizing the indisputable need for a united front in entrepreneurial empowerment.

Brandon Tatum, CEO of the NGA, remarked, “Entrepreneurs drive economic growth, resulting in job creation and innovation. The bipartisan nature of this compact reflects a recognition that fostering entrepreneurship benefits all communities, creating opportunities and strengthening the fabric of our nation.” This sentiment resonates deeply, especially as data reveals that new and young businesses contribute nearly all net job growth in the U.S. Furthermore, state-level entrepreneurial activity has been correlated with a marked decrease in poverty levels, painting a compelling picture of the interconnectedness between supporting entrepreneurship and uplifting communities.

John Bridgeland, Co-Chair of America the Entrepreneurial, emphasizes the urgency with which this compact has come to fruition. “In a time when many feel the American Dream is slipping away, this coalition of governors is committed to translating personal aspirations into viable business ventures,” he stated. The compact not only sets the foundation for economic prosperity but also aims to close income gaps and foster community cohesion amid turbulent times.

Part of what makes this compact notable is its inspiration derived from an Executive Order issued earlier this year by Governor Stitt. This order established a Chief Entrepreneurial Officer role in Oklahoma, tasked with directly assisting aspiring entrepreneurs and streamlining processes for business creation within the state. As this model gains traction, it has sparked interest nationwide, showcasing the effectiveness of state-level leadership in fostering entrepreneurship.

Kim Lane, COO of Right to Start, further emphasizes the significance of this bipartisan commitment. “The support for the Governor's Compact highlights a commitment to prioritizing the needs of entrepreneurs and small businesses in government agendas. It's a critical foundation on which we will build future reforms,” she stated, expressing hope that more governors will join this crucial movement.

As momentum builds nationwide, America the Entrepreneurial, powered by Right to Start and More Perfect, aims to inspire change with over 1,800 civic actions already mobilized across the nation in just six months. The compact serves as a clarion call for action, pushing governors who remain uncommitted to step forward and contribute to the vision of an entrepreneurial America.

Scheduled for November 19-20, the America the Entrepreneurial Summit in Washington, D.C. will be the next platform for discussions among government officials, civic leaders, and entrepreneurs. This summit will serve as a forum to dissect the driving forces behind entrepreneurship, enabling leaders to collaborate on policies that promote business growth and innovation.

As we reflect on this historic moment, the Governor's Compact stands as a testament to what can be achieved when leaders come together across party lines. It provides a roadmap not only for the future of entrepreneurship but shapes the narrative of America as a land of opportunity and innovation. By empowering entrepreneurs, we create a path toward greater economic stability and prosperity for generations to come.