DOE Offers Support for Innovative Manufacturing Plant That Will Produce High-Quality Solar Silicon at Low Cost, Generate Over 2,000 Jobs in Ohio

Today, U.S. Department of Energy Secretary Steven Chu announced the offer of a conditional commitment for a $275 million loan guarantee to Calisolar Inc. to commercialize the company's innovative solar silicon manufacturing process.

Calisolar's process should produce silicon for use in solar cells at less than half the cost of traditional polysilicon purification processes, which will reduce the overall cost of solar modules and panels. At full production, the manufacturing plant is expected to produce 16,000 metric tons [MT] of solar silicon annually, equivalent to more than two gigawatts of solar power generation per year.

The project will be built in three phases of 5,333 MT capacity each, and is expected to be located in a former General Motors stamping plant in Ontario, Richland County, Ohio. Calisolar estimates that the facility will generate, at its peak, nearly 1,100 permanent jobs, and up to 1,000 construction jobs.

"This innovative manufacturing process offers significant competitive advantages that will help the U.S. to out-innovate and out-compete our global competitors," said Secretary Chu [pictured]. "This project is part of our commitment to supporting important innovations that create jobs, strengthen our manufacturing base and position the nation as a global solar leader."

The project will manufacture solar silicon from lower-cost metallurgical-grade silicon feedstock that is then upgraded using Calisolar's proprietary silicon purification process. The company's unique process uses significantly less energy to produce solar silicon that performs as well as polysilicon products made from more expensive and energy-intensive traditional processes, with capital equipment and construction costs approximately one-sixth that of traditional polysilicon plants.

Calisolar is helping achieve the goals of the SunShot Initiative by lowering the cost of their solar cells through the use of less pure silicon, the raw material for solar cells. Their vertically integrated process -- from raw materials processing, all the way through solar cell production --uses lower-cost [50% less expensive], lower-quality materials while maintaining high-efficiency devices.

This work was supported by DOE through funding for the University of California at Berkeley, and through $3 million from the PV Incubator Program -- which leveraged $6.6 million in private-industry cost share and was run through the National Renewable Energy Laboratory.

DOE's Loan Programs Office administers three separate programs: the Title XVII Section 1703 and Section 1705 loan guarantee programs, and the Advanced Technology Vehicle Manufacturing [ATVM] loan program. The loan guarantee programs support the deployment of commercial technologies, along with innovative technologies that avoid, reduce, or sequester greenhouse gas emissions. ATVM supports the development of advanced vehicle technologies.

Under all three programs, DOE has issued loans, loan guarantees or offered conditional commitments for loan guarantees totaling over $33 billion to support 34 clean energy projects across the United States.

DOE has also issued conditional commitments or loan guarantees to support numerous other projects -- including four of the world's largest solar generation facilities, two geothermal projects, the world's largest wind farm, and the nation's first new nuclear power plant in three decades.

For more information, please visit the Loan Programs Office website: http://lpo.energy.gov/.

GoodBiz113's Take
DOE's just-announced investment in Calisolar Inc. has great potential to boost America's competitiveness in solar energy. Further, it will help generate much-needed manufacturing and construction jobs in Ohio.

Chalk it up as yet another win-win endeavor by the Obama Administration to simultaneously spur economic development and fuel advances in developing solar-energy technologies.

SOURCE: U.S. Department of Energy's Office of Energy Efficiency & Renewable Energy [EERE]
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Energy Secretary Chu Announces $112 Million in SunShot Initiative Projects to Advance Solar Photovoltaic Manufacturing Partnerships in U.S.

As part of the SunShot Initiative, U.S. Department of Energy [DOE] Secretary Steven Chu [pictured] yesterday announced the selection of up to $112.5 million in funding over five years, to support the development of advanced solar photovoltaic [PV]-related manufacturing processes throughout the United States.

DOE’s SunShot advanced manufacturing partnerships will help the solar power industry overcome technical barriers and reduce costs for PV installations, help the U.S. regain the lead in the global market for solar technologies, and provide support for clean-energy jobs for years to come.

This program is modeled, in part, on SEMATECH [Semiconductor Manufacturing TECHnology]. Faced with falling U.S. market share for the domestic semiconductor industry from 57 percent in 1982, to 38 percent in 1988, SEMATECH began working with domestic equipment suppliers to improve their capabilities.

As a result of SEMATECH’s work to solve common manufacturing problems by leveraging resources and sharing risks, within 10 years the domestic semiconductor industry had grown by 16 percent. Through this award, SEMATECH will now apply similar ingenuity to helping the U.S. recapture the lead in solar manufacturing.

"Expanding the U.S. solar energy industry is an important part of the Administration's goals to diversify our electricity supply, and rebuild America’s manufacturing base to create jobs now and in the future," said Secretary Chu. "The SunShot Initiative will not only keep the United States at the forefront in solar energy research and development, but will help us win the worldwide race to build a solar manufacturing industry that produces solar systems that are cost-competitive with fossil fuels."

Yesterday’s investments are part of DOE’s SunShot Initiative, which aims to reduce the total costs of photovoltaic solar energy systems by about 75 percent, so that they are cost-competitive at large scale with other forms of energy without subsidies by the end of the decade. Achieving this goal -- equivalent to approximately $1 a watt, or roughly 6 cents per kilowatt-hour for utility systems -- would allow solar energy systems to be broadly deployed across the country.

By engaging multiple companies across the PV supply chain, the SunShot advanced manufacturing partnerships program intends to have broad impact on the U.S. solar industry:

* Selected projects will create organizations designed to bring PV companies together in a coordinated environment to address common technology needs.

* The facilities established through these projects will provide services, tools and facilities to PV companies and suppliers -- to assist them in developing and demonstrating new technologies, and in making the transition to commercial production.

* The program will also link universities and national labs with PV cell, materials, and equipment suppliers to help speed the rate of innovation through coordinated and focused PV manufacturing development.

The selected industry-focused organizations will strongly leverage industry, state, and local funds, and are expected to achieve financial self-sufficiency after five years.

DOE Funding Fuels Coast-to-Coast Collaborations
Funding was made available for applicants in university and industry. Both topics consider collaborative research models to accelerate manufacturing-related technologies and provide maximum leverage to federal funding.

Following are the selected projects:

* Bay Area PV Consortium [Stanford, Cal.] -- $25 million for University-Focused Development
Bay Area PV Consortium [BAPVC] will fund industry-relevant research and development to impact high-volume PV manufacturing, using a competitive selection process open to all universities.

This project, managed by Stanford University and the University of California, Berkeley, will develop and test the innovative new materials, device structures, and fabrication processes necessary to achieve cost effective PV modules in high-volume production. The research will advance technologies that reduce manufacturing costs and improve device performance characteristics to help achieve SunShot’s price targets.

An industry board composed of representatives from PV companies will determine the specific topics for research and development to assure close alignment with industry and manufacturing needs.

* SVTC Technologies [San Jose, Cal.] -- $25 million for Industry-Focused Development
SVTC will create a fee-for-service PV manufacturing development facility [MDF] that will enable startups, materials suppliers, and other PV innovators to eliminate a major portion of their upfront capital and operating costs during product development and pilot production. This will potentially accelerate development and time to market by 12 to 15 months.

The MDF will focus on commercialization of silicon PV manufacturing processes and technologies, and aim to reduce the costs and development time for participating PV industry leaders to deliver innovative, emerging technologies from the laboratory to commercial manufacturing lines.

The MDF will support SunShot targets by strengthening and accelerating growth along the PV manufacturing industry’s entire supply chain by reducing the cost, time, and risk associated with commercialization.

* U.S. Photovoltaic Manufacturing Consortium [Albany, N.Y. and Palm Bay, Fla.] – $62.5 million for Industry-Focused Development
Managed by SEMATECH, the U.S. Photovoltaic Manufacturing Consortium [PVMC] will coordinate an industry-driven research-and-development initiative to accelerate the development, manufacturing and commercialization of next-generation copper indium gallium selenide [CIGS] thin-film PV manufacturing technologies, driving down the cost and risk of bringing them to the marketplace.

PVMC -- with its major partner, the College of Nanoscale Science and Engineering at the State University of New York at Albany -- will establish manufacturing development facilities that PV companies and researchers can use for product prototyping, demonstration, and pilot-scale manufacturing to evaluate and validate CIGS thin-film and PV manufacturing technologies.

PVMC will also work with the University of Central Florida to develop cost-effective, in-line measurement and inspection tools to enable increased PV manufacturing yield.

In addition, PVMC will operate complementary programs to foster new PV technologies and firms, and to develop the U.S. PV workforce. The proposed project will use heavy industry leveraging funds for every $1 of DOE funding.

The SunShot program builds on the legacy of President John F. Kennedy's 1960s "moon shot" goal, which laid out a plan to regain the country's lead in the space race and land a man on the moon. The program will aggressively drive innovations in the ways that solar systems are conceived, designed, manufactured and installed.

For more information and to follow the SunShot Initiative's progress, visit the SunShot Initiative website: http://1.usa.gov/SunShotDOE.

GoodBiz113's Take
DOE's just-announced solar manufacturing partnerships will boost American competitiveness in the global solar energy industry and lower the cost of clean, renewable energy. Further, they'll promote entrepreneurship and generate much-needed jobs.

Chalk it up as yet another win-win-win-win endeavor by the Obama Administration -- one that holds far-reaching potential for decades to come.

SOURCES: NASA, U.S. Department of Energy's Office of Energy Efficiency & Renewable Energy [EERE], Wikipedia
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During Flood Safety Awareness Week, FEMA, NOAA and Partners Encourage U.S. Residents to Prepare for Springtime Flooding

With many communities throughout the nation facing threats of spring flooding, the Federal Emergency Management Agency [FEMA] and the National Oceanic and Atmospheric Administration [NOAA] are once again joining forces to commemorate Flood Safety Awareness Week, March 14-18.

FEMA and NOAA's National Weather Service are providing tips and information to help individuals and families prepare for flooding dangers during the week and throughout the spring season. The resources can be accessed at the Flood Safety Awareness Week landing page, located at www.ready.gov/floodawareness.

"As the nation's most common and expensive natural disaster, floods can strike virtually every community," said FEMA Administrator Craig Fugate [pictured]. "We're encouraging individuals and families to take a few simple steps to protect themselves and their property.

"These include learning about their risk of flooding, having an emergency preparedness kit, storing important documents in a safe place, and considering the purchase of flood insurance. Most homeowners insurance policies don't cover flooding, and most policies take 30 days to go into effect. So, it's important to act now."

Floods do more than damage property. They can also threaten lives if safety precautions are not followed.

"Floods occur somewhere in the United States or its territories nearly every day of the year -- killing nearly 100 people on average annually, and causing damage in the billions of dollars," said Jack Hayes, Ph.D., director of the National Weather Service. "Awareness, preparedness and action are the key ingredients to protecting lives and property when floods threaten.

"One essential safety tip is to never cross a road that is covered by water. Remember: 'Turn Around, Don't Drown.'"

According to the National Weather Service, more deaths occur due to flooding each year than from any other severe weather related hazard. The main reason: people underestimate the force and power of water. All areas of the country can be at risk for flooding, and when such conditions are forecast, important information and life-saving alerts are available at http://www.weather.gov/.

More than half of all flood-related deaths result from vehicles being swept downstream. Remember: flash flooding can take only a few minutes to a few hours to develop.

Be prepared to take detours and adjust your route due to road closures if there is standing water. As little as six inches of water may cause you to lose control of your vehicle. Flood water may be much deeper than it appears as the roadbed may be washed out. Be especially cautious at night when it is harder to recognize flood dangers.

In most cases, standard homeowner's insurance policies don't cover flood damages. FEMA's National Flood Insurance Program makes flood insurance available to renters, homeowners and business owners through thousands of insurance agents located in nearly 21,000 communities around the nation. Flood coverage can be purchased for properties both in, and outside of, the highest-risk areas -- but should be considered regardless of where you live, since 20 percent of all flood insurance claims come from moderate-to-low-risk areas.

The average cost of a policy is $570 a year, and Preferred Risk Policies outside of Special Flood Hazard Areas can be as low as $129 a year. Individuals can learn more about seasonal flood risks and what to do to prepare by visiting FEMA's FloodSmart.gov website; or, by calling 1-800-427-2419.

Click here for information about residential flood insurance.

Click here for information aabout commercial flood coverage.

About FEMA
FEMA's mission is to support our citizens and first responders to ensure that, as a nation, we work together to build, sustain, and improve our capability to prepare for, protect against, respond to, recover from, and mitigate all hazards. Visit http://www.fema.gov/.

About NOAA
NOAA's mission is to understand and predict changes in the Earth's environment -- from the depths of the ocean to the surface of the sun -- and to conserve and manage our coastal and marine resources. Visit http://www.noaa.gov/.

SOURCES: Federal Emergency Management Agency, National Oceanic and Atmospheric Administration, National Weather Service
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Renewable Energy and Energy Efficiency Export Initiative Announced Today

Today, U.S. Commerce Secretary Gary Locke [pictured] joined seven other U.S. government agencies in launching a coordinated effort to promote renewable energy and energy-efficiency exports: the Renewable Energy and Energy Efficiency Export Initiative.

The initiative was developed through the Trade Promotion Coordinating Committee Working Group on Renewable Energy and Energy Efficiency, which includes representatives from the U.S. Departments of Commerce, Energy, State, and Agriculture. Other members include the Export-Import Bank of the United States [Ex-Im]; the Overseas Private Investment Corporation [OPIC]; the U.S. Trade and Development Agency; and the Office of the United States Trade Representative.

Through the initiative, the U.S. Government will support renewable energy and energy efficiency [RE&EE] exporters by offering new financing products; enhancing market access; increasing trade promotion; and improving the delivery of export promotion services to current and future RE&EE companies.

"The initiative lays the foundation necessary to help U.S. renewable-energy and energy-efficiency companies take better advantage of current market opportunities," Locke explained. "It also positions federal government programs to better support U.S. global competitiveness in these sectors over the long run."

Energy is a $6 trillion global market, and clean energy is the fastest-growing sector.

The initiative, which is described in a report being released today by the Commerce Department, comes on the heels of formation of the Renewable Energy and Energy Efficiency Advisory Committee, which is made up of industry leaders. Locke chaired the committee’s first meeting today. This committee will advise Secretary Locke on the development and implementation of programs and policies that will help to expand the competitiveness of the U.S. renewable-energy and energy-efficiency industries.

This initiative is the U.S. Government’s first-ever coordinated effort to support the promotion of renewable energy and energy-efficiency exports. Through the implementation of 23 inter-agency actions, the initiative is designed to facilitate an increase of RE&EE exports during the next five years, helping to meet the goals of the National Export Initiative and President Obama’s challenge to become the leading exporter of clean-energy technologies.

As part of the initiative, the federal government is launching a new online portal to provide renewable-energy companies easy access to U.S. Government export resources. Further, the Commerce Department is committing to an increased number of RE&EE trade and trade-policy missions.

Additionally, the initiative calls for:

* Creation of foreign buyers' guides for U.S. RE&EE technologies;
* Commitment by OPIC to invest an additional $300 million in financing for renewable-resource projects in emerging markets, plus additional new products for energy efficiency-subordinated debt financing and clean-energy technology equipment leasing;
* Streamlining of RE&EE financing applications at both OPIC and Ex-Im;
* Formation of a new subcommittee at the Office of the U.S. Trade Representative to address market access barriers facing the U.S. RE&EE industry in foreign markets; and
* Expansion of USDA’s Market Access Program [MAP] to include biomass wood pellets. [Currently, the program focuses on biofuel products, but not biomass.]

The report is available for download from the new Web portal at http://export.gov/reee.

SOURCE: U.S. Department of Commerce
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5,000-Plus Small Business Jobs Act Loans Approved in First Month

This morning, Karen Mills [pictured], who heads the U.S. Small Business Administration, announced some of the impressive effects that the Small Business Jobs Act of 2010 has yielded thus far.

"Just one month after the President signed the Small Business Jobs Act, SBA has supported nearly $3 billion in loans to more than 5,000 small businesses across the country," Mills noted. "That’s more than 5,000 small-business owners who’ve felt firsthand, within one month, the impact this new law is having on our economy."

Two examples cited by Administrator Mills:

* Peabody Engineering, a tank and fiberglass manufacturer in Southern California, that is using a Jobs Act loan to hire 10 more workers; and

* Caudill Web Inc., based in Washington, D.C., who will use their Jobs Act loan to hire more programmers to meet increased demand.

"So, how did we do it?" Mills asked. "With the Recovery Act, we learned that raising the guarantee and waiving the fees in SBA’s top two loan programs was a formula for success. With the Recovery Act funding and extensions of funding from Congress, we turned just $680 million in taxpayer dollars into nearly $30 billion in lending support through our lending partners.

"That’s a big bang for the taxpayer buck. The Jobs Act builds on that success by extending those same loan enhancements.

"This is a critical investment in America’s biggest job creators and in the strongest engine of economic recovery: entrepreneurs and small-business owners. By unlocking loans for these small businesses, we are providing them with the tools they need to grow their business and create new jobs in their local communities.

"In all, we estimate the $505 million provided in the Jobs Act for these loan enhancements will support about $14 billion in small-business loans. That’s a $14 billion boost for America’s small businesses and just one of the reasons that the passage of this new law was a top priority for President Obama.

"The Jobs Act also includes $12 billion in tax credits targeted specifically to small businesses, and a $30 billion lending fund that will help small, community banks increase their lending to local small-business owners and entrepreneurs.

"As the President has said, government can’t guarantee the success of a small business, but it can knock down some of the barriers that stand in the way and help create the conditions where small businesses can grow and hire. The Small Business Jobs Act is a critical tool to help us do just that, and we are already seeing its impact with the loans SBA approves every day."

To learn more facts about how small businesses are benefiting from the Small Business Jobs Act, visit http://www.sba.gov/jobsact.

* * *

GoodBiz113's Take: Regardless of the relentlessly negative and downright deceitful rhetoric of those who want to see President Barack Obama and his Administration fail, statistics prove that his policies are gradually boosting small-business interests and getting people back to work.

To folks on both sides of the political aisle, and anywhere in-between, we advise: Be patient. Remember that President Obama has only been in the White House for 21 months -- and he had one helluva mess to clean up when he arrived there.

Signing the Small Business Jobs Act of 2010 was just one of countless positive steps that this Administration has taken thus far in order to get all of America moving forward again. If naysaying members of Congress would simply check their politics, egos and inertia at the door, and actually work with their do-something colleagues for the greater win-win-win good, then our nation can continue on the productive course that President Obama and his truly dedicated and apt Administration and Cabinet members have only just begun to chart.

SOURCES: U.S. Small Business Administration, The White House
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SBA Administrator Explains Important Health Care Tax Credit Info for Small Businesses

Administrator Karen Mills [pictured], of the U.S. Small Business Administration [SBA], has just written an open letter to small-business owners across the United States, explaining the immediate benefits available to small businesses as part of the Affordable Care Act.

Following, is the full text of her letter:

* * *

Dear Small-Business Owner,

For decades, access to affordable health insurance has been the No. 1 concern of small-business owners. To help you address that concern and provide quality, affordable coverage for your employees, the new Affordable Care Act gives you a number of new tools and benefits.

The most immediate benefit you should know about is the tax credit to help you pay for up to 35 percent of your employee premiums starting this tax year. An estimated 4 million small businesses may qualify for these tax credits, totaling about $40 billion over the next 10 years. Go here to learn more about the tax credit, including new information that explains how this federal credit is in addition to state-level credits you might receive, and how dental and vision coverage are also eligible for the federal credit.

The Affordable Care Act also included reporting requirements if you pay another business $600 or more, starting with 2013 filings. Small-business groups have voiced concerns about the possible burden this places on people like you. That’s why the IRS is already planning to exempt from this requirement your transactions that use credit and debit cards.

Also, the IRS, SBA and others in the Administration are looking for additional ways to minimize burdens and avoid duplicative reporting. We welcome your comments and input as we move forward together to address implementation issues under the new law.

Over the last 16 months, this Administration has taken steps to provide tax relief that puts more money in the hands of small-business owners like you -- including write-offs for new equipment, credits for hiring unemployed workers, and capital-gains exclusions for small-business investors. We know that sensible tax relief like this will help you grow your business, create new jobs, and continue drive America’s economic recovery.

With warm regards,

Karen Mills

* * *

For detailed information about the new Small Business Health Care Tax Credit, visit IRS.gov: http://bit.ly/SmallBizTaxCredit.

SOURCES: Internal Revenue Service, U.S. Small Business Administration, The White House
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Google's Economic Impact on U.S. Businesses in 2009: $54 Billion

This morning, in honor of National Small Business Week, Google officials were in Washington, D.C., to unveil a first-time-ever report detailing the company's economic impact in all 50 states. The company's total contribution: a whopping $54 billion.

As GoodBiz113 reported earlier this month ["Google, SBA Launch 'Tools for Online Success' Partnership"], Google has partnered with the U.S. Small Business Administration in a big way to help America's small businesses grow. This report shows that the innovative tech company has helped hundreds of businesses in every U.S. state move closer to achieving their financial goals.

"People think of Google first and foremost as a search engine, but it’s also an engine of economic growth," blogs Claire Hughes Johnson, vice president of Google's Global Online Sales [pictured]. "In our report, we’re announcing that, in 2009, we generated a total of $54 billion of economic activity for American businesses, website publishers and non-profits.

"Over the years, people have asked us whether we could quantify our economic impact on a state level, and we’re pleased to do that for the first time with this report, which you can download at google.com/economicimpact.

"In a time of tighter budgets and a slow economic recovery, we’re glad to support so many small businesses and entrepreneurs across the country by helping them find new customers more efficiently and monetize their websites through targeted advertising...

"The report is filled with really wonderful stories about the direct economic impact that AdWords, AdSense, Google Grants and our search engine have across the country. These are the stories of entrepreneurs across the country growing their businesses with Google. And, this morning, Googlers are hosting events in 10 other cities across the country -- Atlanta, Austin, Boston, Chicago, Detroit, New York, Oakland, Portland [Ore.], Raleigh and Seattle -- to help share those stories. Ladies and gentlemen, start your economic engines!"

To download a copy of the report and/or find a clickable map to see Google's economic impact in your state, go to http://www.google.com/economicimpact/.

To view a video of Ms. Johnson and Hal Varian, Google's chief economist, discussing specifics about how the company compiled numbers for its eye-opening report, go to: http://bit.ly/GoogleImpact2009.

SOURCE: Google Inc.
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CEA Chair Christina Romer, Ph.D.: Health Insurance Reform Will Benefit Small Business -- Not Burden It

"Whether or not you have health insurance right now, the reforms we seek will bring stability and security that you don't have today. This isn't about politics. This is about people's lives. This is about people's businesses. This is about our future." -- President Barack Obama

As misinformation about health-care-reform proposals virally spews from the shameless likes of the National Federation of Independent Business, U.S. Chamber of Commerce and other counterproductive entities so intent on maintaining the inert status quo, the White House has released a Health Insurance Reform Reality Check. The website features videos of eight key people providing personal, professional and, above all, factual accounts of just how, exactly, health insurance reform will truly benefit Americans.

While all of the videotaped accounts are credible, concise and well worth anyone's time in gleaning valuable firsthand information about proposed health insurance reform, GoodBiz113 readers will likely be most interested in the segment featuring Christina Romer, Ph.D., chair of the Council of Economic Advisers [CEA].

In her three-minute testimonial, Dr. Romer debunks the myth that health insurance reform will hurt small businesses. To the contrary, she notes, reform will ease the burdens on small businesses and help level the playing field with big firms who pay much less to cover their employees on average.

To watch Dr. Romer's videotaped account and/or read the transcript, go to: http://www.whitehouse.gov/realitycheck/21.

Get the facts about the stability and security you get from health insurance reform: http://www.whitehouse.gov/realitycheck/.
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Recovery Act Changes to SBIC Program Mean Increased Funding Available for Small Businesses

Effective today, small businesses that would otherwise have difficulty securing private equity or venture capital may find funding easier to get as a result of changes made as part of the American Recovery and Reinvestment Act to the U.S. Small Business Administration’s Small Business Investment Company program.

"The Recovery Act expands SBA’s venture capital program to increase the pool of investment funding available to the Small Business Investment Companies licensed by SBA," said SBA Administrator Karen G. Mills. "We believe those companies will be better equipped by these changes to help sustain and grow small businesses for their next important growth steps."

SBICs are privately owned and managed venture capital firms which are licensed and regulated by SBA. SBICs use a combination of funds raised from private sources and money raised through the use of SBA guarantees to make equity and mezzanine capital investments in small businesses. There are approximately 338 SBICs, with $17.4 billion in capital under management.

The changes made as part of the Recovery Act are:

* The Recovery Act makes SBICs eligible for greater SBA guaranteed funding, and requires SBICs to invest 25 percent of their investment dollars into "smaller" businesses. Also, the amount of funding an SBIC may invest in a single small business is set at 10 percent of an SBIC’s total capital, rather than the previous limit of 20 percent of an SBIC’s private capital only. This translates to an effective 50 percent increase in funding available to a single business by an SBIC.

* Maximum SBA funding levels to SBICs will increase up to three times the private capital raised by the SBIC -- up to a maximum of $150 million for single SBICs, or up to $225 million for multiple SBICs that are under common control.

* The cap for all licensees was set at $137.1 million before the Recovery Act.

* These limits are even higher for SBICs that are licensed after Oct. 1, 2009, which certify that at least 50 percent of their investments will be made in small businesses located in low-income areas -- up to $175 million for single licensees, and up to $250 million for jointly controlled multiple licensees.

* Changes made to the SBIC program under the Recovery Act are permanent.

Industry associations have commended SBA for these changes, and SBA continues to encourage new SBICs to apply for licensing and actively participate in the program.

The SBIC program was created to stimulate the growth of America’s small businesses by supplementing the long-term debt and private-equity capital available to them. Since the SBIC program’s formation in 1958, it has invested approximately $56 billion in more than 106,000 small businesses in the United States through April 2009.

For more information about the SBA’s Investment Division and SBIC program, go to http://www.sba.gov/INV; e-mail sbic@sba.gov; or, call 1-800-U-ASK-SBA.

SOURCES: Recovery.gov, U.S. Small Business Administration
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Angie Morgan, Nine-Year Marine Corps Vet and Small-Biz Leader, Helps Kick Off 2008 Democratic National Convention

Today, when the 2008 Democratic National Convention kicks off in Denver, Col., Angie Morgan [pictured] will lead conventioneers in the Pledge of Allegiance. Morgan is a nine-year U.S. Marine Corps veteran who co-founded Fairfax, Va.-based Lead Star LLC, a leadership consulting and development firm, with fellow ex-Marine Courtney Lynch.

A glimpse at the DNC schedule reveals a refreshingly multicultural Who's Who of Democrats who will grace the convention stage during these four days, from Aug. 25-28. Given that some 29 million small businesses are fueling the U.S. economy, it is both fitting and refreshing that small business be prominently represented during this truly democratic event -- subtitled "Americans Gathering to Change the Course of a Nation."

Indeed, it is prudent, thoughtful, pragmatic and compassionate leadership that's required in order to move our nation in a new and better direction, and the folks who assemble in Denver this week are at the core of making that happen. By week's end, a powerful duo -- i.e., Barack Obama and Joe Biden -- will be leading the charge toward achieving a better tomorrow for us all.

Besides co-founding their business, Morgan and Lynch also co-authored the best-selling Leading from the Front: No-Excuse Leadership Tactics for Women. The book tells of the Marine Corps leadership skills that enabled them to succeed in their post-military careers.

Like the Marines, the male-dominated business world requires special navigation techniques for women. This book reveals 10 key practices -- each with its own chapter -- that will help transform readers into respected and efficient leaders.

To track this week's Democratic National Convention coverage, go to PBS's Vote 2008 Election Connection.
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Kerry, Akaka Seek More Veteran Business Owner Data

As the nation prepares to celebrate Veterans Day this weekend, Sens. John Kerry [D-Mass.] and Daniel Akaka [D-Hawaii, pictured] are urging the Bush administration to gather more information on veteran business owners. In a letter to the Department of Commerce, Kerry and Akaka called for more detailed surveys of veteran business owners and entrepreneurs to match surveys already conducted on minority and women business owners.

“Muddling through with blinders on is not an option I’m willing to accept,” said Sen. Kerry, chairman of the Committee on Small Business and Entrepreneurship. “As our brave soldiers return home from Iraq and Afghanistan, we need to make sure that the government is fully informed about the challenges veteran entrepreneurs face and the trends of veteran small-business ownership.

“Our heroes deserve every tool to succeed when they return. In order to make the kinds of policy decisions that will help our veterans, we need good information.”

“I proudly join Sen. Kerry in calling on the Department of Commerce to improve their data collection on veteran entrepreneurs,” said Sen. Akaka, chairman of the Committee on Veterans’ Affairs. “As the newest generation of servicemen and -women return from combat in Iraq and Afghanistan, they deserve to have modernized structures in place that support their business aspirations. We need quality data on veteran businesses in order to provide them with greatly deserved opportunities for success.”

Earlier this year, Kerry expressed support for funding the Survey of Business Owners and Self-Employed Persons [SBO], which includes reports on veterans, minority and women entrepreneurs. Although the Senate passed legislation fully funding the survey in October, the House version of the bill eliminates this survey by cutting Census funding by $10 million dollars. The Senate and House are currently negotiating the differences.

***

The full text of the letter sent by Sens. Kerry and Akaka to U.S. Chamber of Commerce Secretary Carlos Gutierrez follows:

November 9, 2007

The Honorable Carlos M. Gutierrez
Secretary
U.S. Department of Commerce
Herbert Clark Hoover Building
1401 Constitution Avenue, NW
Washington, D.C. 20230

Dear Secretary Gutierrez:

We are writing to urge the Department of Commerce to expand the scope of statistics gathered for veteran business owners in connection with the upcoming Survey of Business Owners [SBO], which is conducted by the Census Bureau every five years.

As you know, this survey is an important tool for understanding the characteristics of American business owners, and the Committee on Small Business and Entrepreneurship relies heavily on the SBO to make sound policy decisions. Likewise, the data collected through the survey would be very useful to the Committee on Veterans’ Affairs in fulfilling oversight responsibilities. Therefore, we are very disappointed in the limited information available about veteran and reservist small-business owners.

While the 2002 SBO -- which included limited veteran business owner information for the first time -- was a step in the right direction, its effectiveness was limited by the general nature of the information obtained. For instance, unlike the 2002 SBOs on minority and women business owners, the 2002 survey did not include localized data for veteran business owners. This severely limited the effectiveness of the information for research purposes.

There are currently 25 million veterans in America today -- including over one million who have left military service since Sept. 11, 2001. As the conflicts in Iraq and Afghanistan continue, the number of veterans -- including service-disabled veterans -- will increase, and the services that the government provides will continue to be critical in ensuring that veterans have the economic opportunities that they deserve. By learning more about the current state of veteran business ownership, economic policies can be more effectively tailored to address any deficits and more effectively assist those veterans who want to start or expand their businesses.

Please explain to us any obstacle in improving the data collection of veteran business owners, and what the agency is doing to overcome these obstacles. In addition, please explain whether reservist business-owner data or data about service-disabled veterans can be collected in the future.

This is an important issue, and we urge the Department of Commerce to address these matters as soon as possible. If there is any way that we or our staffs can be of assistance, please have your staff contact the Senate Committee on Small Business and Entrepreneurship at [202] 224-5175, or the Senate Committee on Veterans’ Affairs at [202] 224- 9126.

Thank you for your attention to this matter. We look forward to hearing from you.

Sincerely,

John F. Kerry
U.S. Senate Committee on Small Business and Entrepreneurship

Daniel K. Akaka
U.S. Senate Committee on Veterans' Affairs

Sources: U.S. Census Bureau, U.S. Senate Committee on Small Business and Entrepreneurship
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Small Businesses Gain More Access to Federal Contracting Opportunities Under Kerry, Snowe Legislation

Today, by a vote of 19-0, the Senate Committee on Small Business and Entrepreneurship passed bipartisan legislation which will make it easier for small businesses to obtain federal contracts.

The Small Business Contracting Revitalization Act [S. 2300] improves the oversight of unbundling contracts for small firms, increases enforcement of protections for subcontractors, and expands opportunities for minority, women and service-disabled entrepreneurs.

“Passing this legislation out of committee is just the first step towards making sure that small businesses -- especially those owned by minorities, women, and veterans -- are treated fairly in the contracting process,” declared Sen. John Kerry [D-Mass.], chairman of the Committee on Small Business and Entrepreneurship.

“This legislation will help ensure that the Bush administration identifies opportunities for small businesses to compete for contracts, and gives small businesses that subcontract with a large firm more recourse if they are mistreated,” Kerry noted. "Small businesses are the lifeblood of America, and we need to eliminate all barriers that stand in the way of their success in order to keep the American economy healthy.”

“The Federal government is not aggressive enough in fulfilling its statutory small-business contracting goaling requirements and in assisting small businesses to access federal contracting dollars,” said Sen. Olympia Snowe, [R-Maine], ranking member of the Committee on Small Business and Entrepreneurship.

“Currently, small businesses are eligible for $340 billion in federal contracting dollars, yet they receive only $77 billion,” Snowe explained. “The legislation the committee approved today will help ensure that small businesses no longer miss out on billions of dollars in contracting opportunities by taking steps to provide the federal government with additional tools it needs to consistently meet, and exceed, its small-business contracting goals. I look forward to the enactment of this bipartisan, small-business contracting legislation.”

The bill was drafted by Sens. Kerry and Snowe, and cosponsored by Sen. Benjamin L. Cardin [D-Md.]. Specifically, the bill addresses challenges faced by small businesses by:

* Reducing contract bundling by improving oversight of bundling regulation compliance by the Small Business Administration [SBA];

* Preventing misrepresentations in subcontracting by prime contractors by increasing oversight and establishing enforcement mechanisms;

* Helping service-disabled, veteran-owned small businesses gain government contract and subcontract opportunities by expanding the authority for sole-source awards;

* Directing the SBA to implement the women-owned small business program – enacted into law in 2000, but which the Bush administration has failed to implement – within 90 days;

* Strengthening the government’s ability to enforce the size and status standards for small business certification.

* Extending the 8[a] contracting program through 2012, and improving it, by:
1] Allowing the Small Disadvantaged Business [SDB] certifications issued by other agencies to be accepted by the SBA;
2] Adjusting for inflation the personal income and net worth requirements for 8[a] program participants; and
3] Prohibiting qualified retirement plans from being used by the SBA to determine an individual’s net worth.

GoodBiz113's take: This bipartisan legislation is most impressive and far-reaching across diverse demographics. S. 2300 deserves to be passed by the full U.S. Senate and Congress ASAP -- to benefit all small businesses and our stakeholders. Once again: Hats off to the do-something 110th Congress!

Sources: Library of Congress, U.S. Senate Committee on Small Business and Entrepreneurship
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Committee Examines Economic Impact of the Nation’s Small Firms

This morning, Chairwoman Nydia M. Velázquez [D-N.Y.] gave the following opening statement at a House Small Business Committee hearing on the state of the small-business economy:

"Today’s hearing will examine the production, employment, and output of our nation’s small businesses as drivers of the U.S. economy. There can be little doubt that, at its heart, our nation’s economy is truly a small-business economy.

"Research has shown that small businesses create most of the nation’s net new jobs and account for almost half of our employer firms. Additionally, they produce more than half of the country’s non-farm private output. It goes without question that small firms make significant contributions to the U.S. economy.

"Today’s hearing will provide a forum to hear the Federal Reserve’s perspective on small businesses’ contributions to the economy. This comes at a time where we are seeing mounting challenges in the financial markets. These challenges, stemming mainly from the housing market, may spill over to other sectors of the economy. This would have broad ramifications, including an impact on small businesses.

"Despite this recent turmoil, small businesses remain a critical source of growth. The number of new businesses, measured as the number of firm births, has shown a net increase of over 20,000 since 2004. Just last week, the Labor Department reported nationwide job growth of 166,000 new jobs and a stable rate of unemployment. Small businesses were at the heart of these metrics, and whatever our economic future may hold, we can be assured that small businesses will be the vanguard for production, job creation, and output nationwide.

"Recently, however, we’ve witnessed increased volatility in the capital markets. These conditions have been driven primarily by weaknesses in the mortgage sector, but virtually every business sector has been affected by these events. Mortgage market instability has resulted in a tightening of lending standards that has spilled over into the small businesses credit markets. Indicators reflect that entrepreneurs are experiencing difficulty obtaining credit and more banks are reporting lower demand for small business loans.

"I am sure it comes as no surprise to members of this Committee that small businesses have more difficulty gaining access to affordable sources of credit compared to large businesses or other types of borrowers. Unfortunately, the most recent Federal Reserve's Report to the Congress on the Availability of Credit to Small Businesses reveals that this continues to be the case.

"Small businesses continue to rely disproportionately upon more expensive alternatives to traditional credit than larger businesses. Additionally, the percentage of small businesses that used credit cards increased nearly 10 percent since the last Federal Reserve survey. These results demonstrate the need for strong SBA programs aimed at providing small firms with access to affordable sources of financing.

"Yet, despite the obvious importance of small businesses, there remain few studies on their economic role. In addressing the need for solid information on small businesses, few studies have been more influential than the Federal Reserve’s Report to Congress on the Availability of Credit to Small Businesses. Much of the information contained in the report is gleaned from the Survey of Small Business Finances, which is itself the most comprehensive and up-to-date direct assessment of small-business finance.

"Over the past decade, this report has provided Congress with invaluable insight into the small-business credit markets. Now, more than ever, such insight is a key resource in developing balanced and effective economic policies. With the economic turmoil we have seen recently, it is paramount that we all work together to restore financial market stability and offset the effects of tighter credit conditions.

"These developments have created uncertainty over our economic future. Our history has proven that, as small businesses go, so goes the national economy. In this environment, it is more important than ever that this committee remain committed to ensuring that small businesses have access to the financial tools they need to grow and thrive."

View video highlights from today’s hearing.

Sources: Federal Reserve Board, U.S. House Small Business Committee

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