Pelosi: Small Business Bill Will Foster New Economic Opportunities and Help Small Businesses Create Jobs

July 8, 2009

Pelosi: Small Business Bill Will Foster New Economic Opportunities and Help Small Businesses Create Jobs
Wednesday, July 8, 2009
Contact: Brendan Daly/Nadeam Elshami/Drew Hammill, 202-226-7616
Washington, D.C. -- Speaker Nancy Pelosi issued the following statement today after the House approved by a vote of 386 to 41 the Small Business Research and Innovation Act, which will reauthorize and modernize the Small Business Innovation Research and Small Business Technology Transfer programs:
?Small businesses are the backbone of the American economy, creating 60 to 80 percent of all new jobs each year, and the House today overwhelmingly passed another critical piece of legislation to foster the development of new economic opportunities in America and help small businesses create jobs.
?Every year, through its direct grant process, the Small Business Innovation Research program results in a $2.2 billion investment in small businesses, helping 1,500 new firms get off the ground. These new firms create new, high-quality jobs for America?s workers which will boost our economy when we need it most. At a time when we must invest in our economy to spur growth, this legislation will give small businesses the necessary tools to continue to spur technological innovation and to assist small businesses in producing commercially viable products for the marketplace.
?The Small Business Research and Innovation Act not only provides a vital resource for small businesses nationwide, but it also encourages outreach and priorities to historically underserved communities such as those in rural America and to small businesses owned by veterans, women and minorities.
?I commend Small Business Committee Chair Nydia Velazquez and Science Committee Chairman Bart Gordon for their outstanding work on the legislation and for their deep commitment to the small business community.?