Verbatim: 'We Can Out-Compete Any Other Nation on Earth'

Periodically, GoodBiz113 puts its ear to the rail to listen to what politicos, pundits and others have recently said about small businesses and our integral role in growing the U.S. economy. Today -- just one day before President Obama's annual State of the Union address -- we share some select events and perspectives with you, our loyal readers.

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"As we continue to get this economy back on track, I am encouraged by this Administration’s commitment to reduce the regulatory burdens businesses in America face on a daily basis. Every day, we hear from small businesses that are bogged down with unnecessary paperwork and outdated regulations.

"As chair of the Senate Small Business Committee, I am committed to reducing burdens America’s entrepreneurs face -- beginning with the full repeal of the Form 1099 reporting requirement set to take effect in 2012. I will continue working with the Administration to pinpoint problem areas in the federal regulatory process that hinder job creation and economic growth, and I applaud their efforts to make tackling this problem a priority." -- U.S. Sen. Mary Landrieu [D-La.], applauding the efforts of the Obama Administration to reduce the regulatory burdens facing businesses in America -- particularly, small businesses [U.S. Senate Committee on Small Business and Entrepreneurship, Jan. 18]

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"Today's announcement reflects this Administration's commitment to promoting the development of advanced biofuels. Strong biofuels projects like Diamond Green Diesel can help to diversify our transportation fuel supply, while creating jobs and strengthening our economy." -- U.S. Energy Secretary Steven Chu, announcing the offer of a conditional commitment to Diamond Green Diesel LLC -- the proposed joint venture between Valero Energy Corporation and Darling International Inc. -- for a $241 million loan guarantee.

This loan guarantee will support the construction of a 137,000,000-gallon-per-year renewable-diesel facility in Norco, La. -- located about 20 miles west of New Orleans. Valero Energy Corporation plans to direct the design, construction and operation of the project, and market all of its output, while Darling International Inc. will supply feedstock to the project.

The company estimates that the project will create 700 jobs during peak construction, and over 60 jobs during operation. The project will reduce greenhouse gases by more than 80 percent over conventional petroleum-based diesel, and is expected to nearly triple the amount of renewable diesel produced in the U.S.

In addition, the facility will fulfill almost 14 percent of a national mandate to boost production for biomass-based diesel. Approximately 95 percent of the project components are expected to be produced in the United States. [U.S. Department of Energy, Jan. 20]

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"...In order to meet President Obama’s goals of a 28% reduction in federal greenhouse gas [GHG] pollution by 2020 and a net-zero-energy building requirement by 2030, GSA began sustainable construction and retrofit projects around the country, employing 500 businesses and creating jobs in all 50 states.

"Moving forward, all GSA construction projects will achieve at least a LEED Gold certification from the U.S. Green Building Council for GSA’s use of cutting-edge and sustainable design and technology..." -- General Services Administrator Martha N. Johnson, reporting on GSA's 2010 achievements [The White House Blog, Jan. 20]

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"...Leading the world in innovation. Opening new markets to American products. That’s how we’ll create jobs today. That’s how we’ll make America more competitive tomorrow. And that’s how we’ll win the future...

"We’re living in a new and challenging time, in which technology has made competition easier and fiercer than ever before. Countries around the world are upping their game and giving their workers and companies every advantage possible.

"But that shouldn’t discourage us. Because I know we can win that competition. I know we can out-compete any other nation on Earth. We just have to make sure we’re doing everything we can to unlock the productivity of American workers, unleash the ingenuity of American businesses, and harness the dynamism of America’s economy." -- President Barack Obama [pictured above], during his weekly address [The White House, Jan. 22]

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Be sure to tune in to President Obama's State of the Union address tomorrow, Jan. 25, at 9 p.m. EST. All of the major TV networks will broadcast it, as will a handful of cable channels.

You can also view live streaming video of the event, and interact with White House officials during the hours and days following. Engage yourself: http://bit.ly/EnhancedSOTU.

SOURCES: U.S. Department of Energy, U.S. General Services Administration, U.S. Senate Committee on Small Business and Entrepreneurship, The White House [photo]
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Verbatim: President Obama Draws Praise for His Commitment to Making Small Business a Top Priority

After his first-ever State of the Union address before a joint session of Congress and the American people last evening, President Barack Obama [pictured with Vice President Joe Biden and House Speaker Nancy Pelosi, in background] drew high praise from two key small-biz stakeholders regarding his agenda to make small business a top priority.

"Tonight, the President made clear that he recognizes the central role small businesses play in our economy," said Rep. Nydia M. Velázquez [D-N.Y.], chairwoman of the U.S. House Committee on Small Business. "His address outlined a broad-based strategy for putting our nation on a path back toward prosperity.

"The tax initiatives the President discussed would spark job growth by helping firms reinvest in their facilities, expand operations and purchase new equipment. Importantly, the President's proposed investments in infrastructure and energy efficiency programs will put more Americans back to work in sectors dominated by small businesses.

"Ultimately, access to capital remains the single biggest obstacle to small-business job growth. So, I was particularly pleased to hear President Obama focus on ways to get credit flowing to entrepreneurs.

"The House has already passed legislation that would support $44 billion in small-business lending and investment. In coming weeks, I look forward to working with the President as we seek ways to improve the flow of capital to small businesses.

"As the President made clear tonight, we will not rest until America's entrepreneurs have the resources necessary to lead our economy forward. After all, small businesses are critical -- not just for immediate job growth, but for rebuilding our economy in the long term."

U.S. Senate Committee on Small Business and Entrepreneurship Chair Mary L. Landrieu [D-La.], who has effectively shepherded small-business job creation measures through her committee, also weighed in on President Obama’s important focus on investing in small businesses to help create jobs.

"Tonight, President Obama made it clear that investing in our Main Street businesses is the quickest way to improve our economy and create jobs," Sen. Landrieu declared. "Small businesses are truly our nation’s job creators, creating 64 percent of all new jobs in the last 15 years. And, yet, this past year, small businesses have been hit the hardest by the economic downturn.

"Nearly 85 percent of the jobs lost came from small businesses. We must invest in our small businesses, because they are the businesses that have bared the greatest burden in this economy, and they are the businesses that have the greatest potential to improve it.

"The first, and fastest, way to boost our small businesses’ ability to create jobs is by giving them greater access to capital and tax credits. President Obama highlighted several ways to do this -- all of which I support, and look forward to hearing more details.

"Another way is by increasing the loan limit cap on small-business loans -- something that President Obama has encouraged, and that I, along with 18 Republican and Democratic Senators, have included as part of S.2869, 'The Small Business Job Creation and Access to Capital Act.' In addition to raising the cap on loans, this bill extends important Recovery Act provisions that have helped to create more than 500,000 jobs in the last year.

"In addition to improving lending for small businesses, President Obama launched the National Export Initiative to help small businesses and farmers increase American-made exports, and help reach a goal of creating 2 million new jobs in America by doubling our exports. Making minor changes to some of the programs that already exist to help small exporters can help us reach the 2 million goal even faster. I, along with Sen. [Olympia] Snowe, made these changes in a bill to boost the exporting potential of small businesses.

"These are simple, inexpensive ways we can make a big impact. I look forward to working with President Obama, his administration and my colleagues in Congress to help our small businesses as we work to create jobs in America.”

The Senate Committee on Small Business and Entrepreneurship passed S.2869, "The Small Business Job Creation and Access to Capital Act," and S.2862, "The Small Business Export Enhancement and International Trade Act," out of committee last December. For more information on the bills, please click here.

Last week, United States Trade Representative Ron Kirk announced that his office is dedicating a high-level post to promoting the interests of small-business exports, a move that Sen. Landrieu repeatedly advocated. To read more about the announcement, please click here.

Several small-business owners sat with First Lady Michelle Obama during last night’s address. They included: Ping Fu of Chapel Hill, N.C.; Chris Lardner of Albuquerque, N.M.; Juan Yépez of Lawrence, Mass.; and Trevor Yager of Indianapolis, In. For biographies of the small-business owners, please click here.

GoodBiz113 Tools
* To view the video and read the transcript of President Obama's first State of the Union address, go to: http://bit.ly/SOTU01272010

* To learn more about S.2869, "The Small Business Job Creation and Access to Capital Act": http://bit.ly/SmallBiz2869

* For an overview of S.2862, "The Small Business Export Enhancement and International Trade Act," visit: http://bit.ly/SmallBiz2862

SOURCES: Library of Congress, U.S. House Committee on Small Business, U.S. Senate Committee on Small Business and Entrepreneurship, The White House [photo by Pete Souza]
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House Committee Calls for Sweeping Reforms to SBIR Program; Velázquez Critiques President Bush's Final State of the Union Address

As the specter of a recession looms, small-business innovation becomes an increasingly vital asset to our economy. It was technology startups, after all, that led the way back to growth during our last slowdown.

During a hearing on the Small Business Innovation and Research [SBIR] program today, witnesses underscored its importance in ensuring American competitiveness. They also offered compelling evidence of a need to reform various parts of the initiative.

"SBIR is the largest government-wide research and development program, and it has helped turn some of the nation’s best ideas into tangible market realities," said Rep. Nydia Velázquez [D-N.Y.], chairwoman of the House Committee on Small Business. "Unfortunately, many entrepreneurs are still not getting the access to the R&D funds they need. That puts them at great disadvantage and robs our economy of the type of innovation we require most."

The SBIR was created by Congress in 1982, and is scheduled to sunset on Sept. 30, 2008. Throughout its history, the program has used small firms to help federal agencies meet their R&D goals. It has also fostered considerable technological innovation and prompted the commercialization of resulting products and services. However, as technology and national priorities change, the initiative is failing to keep pace.

"Even in a challenging economy, SBIR has helped small firms create jobs and wealth. We must continue to strengthen this program and align its focus with today’s technological realities," said Velázquez.

When the SBIR Reauthorization Act of 2000 was passed, technologies such as wireless communications, high definition television and hybrid cars were still in relative infancy. While that law made several modifications, the program is in need of further modernization. Witnesses also pointed to a need for increasing SBIR grants; suggested streamlining the application process; and called for greater flexibility to allow participating firms to leverage private-sector funds.

"One sure way to keep the American economy on the right track is to reform this initiative with an emphasis on providing resources for economically viable technologies," Velázquez noted. "We should increase competition within SBIR, ensure that awards go to projects that will produce the greatest return for taxpayers, and do everything possible to help today’s small firms bring forth tomorrow’s goods and services."

Click link for video clips of today's full committee hearing.

For the list of witnesses and their testimonies, click here.

Velázquez: President Bush’s Final State of the Union Speech Falls Short on Proposals to Help Small Firms Spur the Economy

President George W. Bush delivered his final State of the Union address last night, and spoke about the bipartisan economic stimulus plan that Democrats negotiated on behalf of America’s entrepreneurs and working families. The $147 billion stimulus package is meant to spur the lagging economy, and includes short-term provisions to help small businesses. These include a one-year doubling of the capital expensing limit from $125,000 to $250,000, and an opportunity to write off 50 percent of depreciation for certain equipment purchases in 2008.

All are steps in the right direction, Velázquez observed, but President Bush needed to have spoken about long-term support for the 26.8 million small firms that comprise the economic engine of the United States. He mentioned small businesses only once, and those who tuned into his speech were left wondering if the final 50 weeks of his administration will be just like his first seven years—full of empty promises.

"The president has missed yet another opportunity to address the long-term concerns of small-business owners," said Velázquez. "In the face of a recession, it is clear that it is Democrats who will do whatever is necessary to help American entrepreneurs."

Several of the top concerns of small firms were particularly suspect in their absence from the president’s speech. He failed to adequately broach such items as health care, energy costs and the need for affordable capital.

"Everyone is feeling the credit crunch and rising costs, but entrepreneurs are being hit particularly hard," Velázquez noted. "That harms their ability to grow their businesses, and robs the economy of their full contributions.

"The president said we should empower people to grow the economy. Unfortunately, his State of the Union address failed to lay out a vision to do that."

SOURCES: Library of Congress, U.S. House Committee on Small Business, U.S. Small Business Administration, The White House [photo]

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