FEINGOLD TO
LEAD ROLL OUT OF E4 INITIATIVE WITH BILL BOOSTING SMALL BUSINESS INNOVATION
Following Wisconsin Events on E4 Initiative, Feingold Returns to Washington
to Introduce Bills to Fuel Job Creation and Spur Economic Development
September 8, 2008
Washington, DC – Upon his return to Washington today, U.S. Senator Russ Feingold will introduce the first bill of his E4 initiative, an effort to fuel job creation and enhance workforce development efforts which he announced in Wisconsin last week. Feingold will introduce the Strengthening Our Economy Through Small Business Innovation Act to boost funding for the Small Business Innovation Research (SBIR) grant program which channels resources from federal agencies to small businesses for research and development. The legislation would also help Wisconsin small businesses, including the increasing number of businesses focused on water technology, by prioritizing where federal dollars for small business innovation would go. Feingold’s legislation would prioritize grants for water quality and security, energy innovation, transportation, and domestic security.
“Small businesses are the engines that drive our economy, generating most of our new employment opportunities, especially in inner cities,” Feingold said. “Right now, Wisconsin is on the cusp of becoming the ‘Silicon Valley’ of water technology with our small businesses leading the way. The federal government should support innovative efforts like these that not only address emerging national and global challenges, but also help our businesses and put more Americans to work.”
Feingold’s legislation, which is fully offset as to not increase the federal deficit, would reauthorize both the SBIR program and the related Small Business Technology Transfer (STTR) program for fourteen years while significantly increasing federal research and development funding over a three-year period.
In addition to legislation to boost small business innovation, Feingold’s initiative – dubbed “E4” because of its focus on Economy, Employment, Education and Energy – will include legislation to support job growth in the emerging energy sector, enhance workforce development, and build new education partnerships. Feingold will introduce legislation throughout the week focusing on workforce development, education and the emerging energy sector.
“With rising health care and energy costs, unfair trade agreements sending jobs overseas, and an economy heading south, Wisconsin families, communities, and businesses are feeling the pinch,” Feingold said. “We should respond by creating conditions that nurture job growth and help our economy thrive. This will take a multi-faceted approach with all levels of government working together with businesses to harness their strengths, create more jobs, and address our emerging national challenges.”
Last week, Feingold announced his E4 initiative during a visit to the Milwaukee Common Council followed by a tour of Procorp Enterprises, a Milwaukee area small business specializing in sustainable water and wastewater treatment solutions. In Madison, Feingold also met with business leaders, members of the Wisconsin Technology Council, recipients of SBIR Grants, and entrepreneurs and also spoke before a Fitchburg business appreciation luncheon.
More information is available at http://feingold.senate.gov/e4.