PADUCAH – Leaders in Paducah and McCracken County are working to bring four software companies to the region by this fall. The plan is a partnership with Codefi.
Codefi is a Cape Girardeau-based company that partners with private and public groups to train digital workers and entrepreneurs. It also creates and attracts software-focused companies in areas like Paducah.
“Four companies will be coming to Paducah in October and they will start working from the co-working space that will be finished by then, and Dr Stapelton will start working with them and we will see how this program plays out,” McCracken County Commissioner Eddie Jones said.
James Stapelton, PhD, is the co-founder of Codefi, and helped run the first VSodefi partnership with Sprocket in 2020. Sprocket will house the Codefi space of the new project.
Businesses must move to Paducah. Currently, Codefi is reviewing around 80 applications from small software companies in the United States.
If selected, they will receive a scholarship of $ 50,000 to come to Paducah.
Codefi has already brought new businesses to Missouri.
âThey’ve been successful. On this program, 10 companies have landed in Cape Girardeau in the past four years,â Jones said.
Jones is hoping for a city-county partnership.
Two city commissioners, including Raynarldo Henderson, are heading to Cape Girardeau on Tuesday to learn more about Codefi.
âWhat I want to do is understand the Codefi better, see how it works at Cape Girardeau,â said Henderson.
For the deal to be solidified, the city and county must combine two private grants totaling $ 100,000.
Ideally, the city and county would each provide a grant of $ 50,000. However, no government agency voted on the issue.