CONGRESSMAN CARNEY VOTES TO CREATE SMALL BUSINESS JOBS AND SPUR ECONOMIC GROWTH

By THE OFFICE OF CONGRESSMAN CHRISTOPHER CARNEY (D-10)

Washington, DC – Late yesterday, Congressman Christopher P. Carney voted to strengthen small businesses by improving and modernizing certain successful Small Business Administration programs. With Rep. Carney’s support, H.R. 2965, or the Small Business Research and Innovation Act, passed with broad bi-partisan support (386-41). The Small Business Research and Innovation Act is one key element in the plan to get our economy growing, spur job creation and encourage America’s entrepreneurs to innovate.

“Innovation has always been the core of American business success and retaining our competitive advantage in the global economy will take a commitment to research and development like the one found in this bill. Small businesses are the engines that drive the nation’s economy. They lead in innovation and pioneer new technologies that keep our country on the cutting edge,” said Rep. Carney. “Supporting small business research and development will create new products and millions of new American jobs for years to come.”

The Small Business Research and Innovation Act will make it easier for small businesses to independently find financing which encourages them, not Washington bureaucrats, to decide how to raise capital. The bill will broaden the pool of businesses that participate in the programs by reaching out to rural entrepreneurs, veterans, minorities and women. It also puts a greater emphasis on helping smaller firms bring their products to market.

The bill modernizes federal small business research and development programs, the Small Business Innovation Research (SBIR) program and the Small Business Technology Transfer (STTR) program, which help small businesses engage in cutting-edge research.

“Every year, these programs help 1,500 new firms get off the ground both here in northeast and central Pennsylvania and around the country,” said Rep. Carney. “There is 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.

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July 9, 2009 at 12:33 pm

--pa2010.com Staff