From the Office of Senator Kerry

Wednesday, October 8, 2003

Washington, DC - Senators Edward M. Kennedy and John F. Kerry along with Congressman Barney Frank today announced a $50,000 grant to the South Eastern Economic Development Corp. in Taunton, Massachusetts. The funding will go to 15 small business owners who are current recipients of loans from the South Eastern Economic Development Corp., a micro-lending program. This funding will create 61 jobs over the next two years in the rural areas of Barnstable, Bristol, Plymouth, and Norfolk counties. "Investing in small businesses is one important step toward improving our sagging economy. With workers across the state and the entire nation struggling to find work, I'm proud we're able to provide this needed assistance to create jobs and help the economy of the region," Kennedy said. "We must invest in small businesses, which are the primary engines of job creation and economic growth," said Kerry, Ranking Member of the Committee on Small Business and Entrepreneurship. "The technological advancements and innovations small businesses bring to the marketplace are essential in turning our economy around and providing jobs in this time of unprecedented job loss. I am pleased to announce this grant to the South Eastern Economic Development Corp. and will continue to fight for the small businesses of our country, which boost our economy and employ nearly sixty percent of all Americans." "I am pleased to learn that SEED has been approved for this grant, which will provide valuable aid to small businesses in Southeastern Massachusetts. This is another example of the important role federal funds can play in providing financial assistance to the private sector, particularly in areas where the economy has been affected by national public policy decisions," stated Congressman Frank. These Rural Development Funds are provided by the U.S. Department of Agriculture.