E-MAIL
FREQUENTLY
SIGN UP
REP. TIM WALZ VOTES TO CREATE SMALL BUSINESS JOBS, SPUR ECONOMIC GROWTH
For Immediate Release
July 8, 2009
Contact: Meredith Salsbery
507-388-2149
WASHINGTON D.C. — Today, Rep. Walz voted to create new jobs and boost the economy by supporting small business innovation in research and technology. The Small Business Research and Innovation Act is part of our long-term economic blueprint to spur job creation by encouraging America’s entrepreneurs to innovate toward breakthrough technological advancements.
“Small businesses are the engines that drive innovation and pioneer new technologies in this country,” said Rep. Walz. “Supporting small business research and development will create new products and millions of new American jobs for years to come.”
The bill modernizes the government’s largest small business research and development programs, the Small Business Innovation Research (SBIR) program and the Small Business Technology Transfer (STTR) program, more than doubling the amount of the grants small businesses can apply for and helping them engage in cutting-edge research.
The Small Business Research and Innovation Act will broaden the pool of businesses that participate in the programs by reaching out to rural entrepreneurs, veterans, minorities and women. The bill will make it easier for small businesses to find financing, allowing them, not Washington bureaucrats, to decide how to raise capital. It also puts a greater emphasis on helping smaller firms bring their products to market.
The bill will also provide new means to enhance small business opportunities in rural and agricultural communities, like those in Minnesota’s 1st Congressional District. It does so by giving priority to grant applications submitted from rural areas and agricultural businesses, by streamlining the grant application process, and by providing opportunities to learn about technological advancements and new investment possibilities.
“Every year, these programs help 1,500 new firms get off the ground,” said Rep. Walz. “There’s simply no more effective way to boost our economy than to support the small business innovation that creates new jobs, new technologies and new American industries.”
Since 1992, the SBIR and STTR programs have awarded 65,000 grants to small companies that are leading research efforts to cure diseases, strengthen national defense and reduce our dependence on foreign energy sources. Without action by Congress, these programs will expire later this month.
 |
