HOUSE PASSES SMALL BUSINESS RESEARCH AND INNOVATION ACT

Bill aims to create jobs, spur economic growth

Washington, DC – Four of five San Diego Congressional representatives (Democrats Bob Filner and Susan Davis along with Republicans Brian Bilbray and Duncan Hunter) voted to create new jobs and boost the economy by supporting the Small Business Research and Innovation Act, HR 2965. The measure is part of the Obama administration’s long-term economic blueprint designed to spur job creation by encouraging America’s entrepreneurs to innovate toward breakthrough technological advancements. Republican Congressman Darrell Issa voted no.

“Small businesses are the engines that drive innovation and pioneer new technologies in this country,” said Filner. “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 is also intended to make it easier for small businesses to find financing, allowing them – not Washington bureaucrats – to decide how to raise capital, a press release from Filner’s office stated. The bill also puts a greater emphasis on helping smaller firms bring their products to market.

“Every year, these programs help about 1,500 new firms get off the ground,” said Filner. “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 would expire later this month.