DELAURO: WE MUST PROTECT LOCAL SMALL BUSINESSES

Discusses impact of Small Business Innovation and Research program on jobs and economic growth

Washington, DC— Congresswoman Rosa DeLauro (CT-3) held a meeting today with local small businesses to discuss the Small Business Innovation and Research (SBIR) program, which encourages small businesses to engage in research and development. SBIR provides incentives for these businesses, helping our county’s innovation sector grow and ensuring that the United States is competitive in the global marketplace.

Since the program’s inception in 1982, 194 companies in Connecticut have benefitted from SBIR funding, and approximately 10,000 jobs have been created. Last year, $37.6 million in incentives were awarded to Connecticut companies. But the legislation currently being considered in Congress may compromise the small business designation and threaten the benefits and jobs generated by the SBIR program.

Congresswoman DeLauro met with representatives from several local companies currently receiving SBIR funding to learn about their concerns.

“Through federal funding, the SBIR allows cutting-edge small businesses to take the entrepreneurial risks that strengthen America’s high-tech economy and create good jobs. This is a proven, thriving program that has helped support economic growth in Connecticut and across the nation. But because so many of these small businesses depend on multi-year contracts and deals, it is vital that we find a way to reauthorize this program over the long-term, instead of just short-term fixes,” said Congresswoman DeLauro. “Small businesses are the engine of our economy, and are critical to Federal government research and development. We need a strong SBIR program that continues to serve small businesses, not a weakened one, and that is what I will continue to fight for.”