- Posted byon April 17, 2012 at 1:10 PM EDT
My company, Emmy's Organics is three years old. I started it with my life and business partner, Ian Gaffney. We make and manufacture gluten free and vegan snacks and desserts. We literally have grown Emmy's from the ground up, starting in Ian's mother's home kitchen and now working out of our own manufacturing facility in Ithaca, NY. After making use of the first small business loan we took out from our local credit union, we decided to launch a crowd-funding campaign through a donation-based website. We raised $15,000 in 30 days. Over the next 11 months, we used that capital to hire a designer and create custom packaging that was pre-printed and also compostable (our company uses almost no plastic in all of our packaging). We launched our new packaging in December 2011 and in that short time, we have seen a 150% increase in our sales, our products are now available in 1,000 stores and our company has grown from four to seven full time employees. Truly a success.
The best part of crowdfunding was the experience of our local community supporting us. We have always been and continue to be very community-based. We are proud to label our business as "made in Ithaca, NY" and we use as many local resources as possible. It was such an acknowledgement to us that our fans and neighbors were willing to contribute their dollars to take our business to the next level.
Earlier this month I had the honor of attending President Obama’s signing of the Jumpstart Our Business Startups (JOBS) Act. As I write that, I almost cannot believe it. I would have never thought, back when I started my company that I would be recognized by the White House as an entrepreneur and asked to be a part of history. As I am twenty-five years old, you can probably guess that I have never owned or operated a business before this one. This experience continues to teach me lessons as I continue to grow and develop myself alongside my business. Being at the White House and having the opportunity to speak with government officials, members of Congress, and successful entrepreneurs was a reminder that truly anything is possible.
Both in the immediate and longer term, the JOBS Act opens new possibilities for the future growth of our business. With its emphasis on crowdfunding as a way to raise capital – not just donations but for the first time true investments -- I am excited for other businesses to have that same experience.
Learn more about the JOBS Act:
- Posted byon April 17, 2012 at 12:25 PM EDT
Today – Tuesday, April 17 – is Equal Pay Day, which marks the fact that, nearly 50 years since President John F. Kennedy signed the Equal Pay Act of 1963, the average woman still has to work well into the calendar year to earn what the average man earned last year. According to the latest U.S. Census statistics, on average, full-time working women earned 77 cents to every dollar earned by men, and the gap is significantly more for women of color. This substantial gap is more than a mere statistic. It has real-life consequences. Women, who compose nearly half of the workforce, are bringing home 23 percent less than their male counterparts – which means less for families’ everyday needs, less for investments in our children’s futures, and, when added up over a lifetime of work, substantially less for retirement.
President Obama understands how much this issue impacts our nation’s economic well-being, and that’s why, from his earliest days in office, he has been committed to closing the pay gap. Today, in conjunction with Equal Pay Day, we are proud to announce the following additional initiatives:
- First, the White House released the Equal Pay Task Force Accomplishments Report: Fighting for Fair Pay in the Workplace. The Equal Pay Task Force (“Task Force”), which the President established in 2010, brings together the best expertise of professionals at the U.S. Equal Employment Opportunity Commission, the Department of Justice, the Department of Labor and the Office of Personnel Management, who work daily to combat pay discrimination in the workplace. Since the Task Force’s creation, enforcement actions have increased; the government has recovered unprecedented monetary recoveries for women seeking their fair share for performing the same work as men; and investments in outreach to both employers and employees are paying big dividends. The report details the significant progress that the Task Force has made to fight pay discrimination – including improving inter-agency coordination and collaboration to ensure that the full weight of the federal government is focused on closing the gender pay gap once and for all. I commend the professionals who represent the member agencies on the Task Force for the extraordinary work they and their teams undertake each day to realize the President’s directive.
- Second, Secretary of Labor Hilda L. Solis today announced the winners of the “Equal Pay App Challenge.” In January of this year, the Department of Labor, in conjunction with the Equal Pay Task Force, launched this challenge – inviting software developers to use publicly available data and resources to create applications that provide greater access to pay data organized by gender, race, and ethnicity; provide interactive tools for early career coaching or online mentoring; or provide data to help inform pay negotiations. A solution to the pay gap has been elusive, in part because access to basic information – e.g., typical salary ranges and skill level requirements for particular positions, advice on how to negotiate appropriate pay – is limited. Because of the enthusiastic response to the “Equal Pay App Challenge” and the creative apps that were developed, anyone with a smartphone, tablet or computer can access answers to these basic, but important, questions. This challenge represents just one more way that women can empower themselves with the tools they need to make sure they get equal pay for equal work.
- Finally, in our ongoing effort to educate employees and employers about their rights and responsibilities under our nation’s equal pay laws, the Department of Labor today published two brochures that will educate employees regarding their rights under the existing equal pay laws and enable employers to understand their obligations.
- Posted byon April 13, 2012 at 3:34 PM EDT
It was a great day in Shreveport, Louisiana, yesterday. First Lady Michelle Obama joined the leadership of the Kansas City Southern (KCS) Railway Company in announcing Michael Abitago, Junior as the 50,000 veteran or military spouse to have been hired by a company through the Joining Forces employment efforts this past year! Abitago literally left active duty in the Army last Saturday after 4 years of service (including 2 tours in Iraq) and starts work on Monday as a Conductor-trainee. He was hired by KCS in mid-March at a Joining Forces hiring event in Ft Hood, Texas.
And there’s even more great news. A couple of months ago when we first wanted to highlight this event, we had planned on announcing our 50,000 hire. But as we approached our visit to Shreveport we had already hit that mark. By April another 8,000 veterans and military spouses were hired. And yesterday, Mrs. Obama revealed the news that the surge in hiring pushed the number of veterans and military spouses hired through Joining Forces to 60,000!
Through Joining Forces, American businesses have not only hired more than 60,000 veterans and military spouses to date, they have also pledged to hire at least 160,000 more in the years ahead.
More than 1,600 companies have been involved in this effort, including Microsoft, Comcast, Honeywell, Safeway and Sears. JPMorgan Chase and the 40 companies of the “100,000 jobs mission” hired more than 6,000 veterans -- alone – in the January-March 2012 timeframe.
- Posted byon April 13, 2012 at 9:00 AM EDT
“This is a make-or-break moment for the middle class, and for all those who are fighting to get into the middle class. Because what’s at stake is whether this will be a country where working people can earn enough to raise a family, build a modest savings, own a home, secure their retirement.” -- Remarks by the President on the Economy in Osawatomie, Kansas, December 6, 2011
The President has been focused on working to ensure an America that grows together, rather than one in which the gains go disproportionately to the wealthy. His policies have already made a real contribution to achieving this ideal—benefiting millions of people, principally middle-class Americans and those struggling to get into the middle class—and he continues to push tirelessly for policies, including the Buffett Rule, that will help us get closer.
The best available data on incomes refute the baseless claim recently made by some that income inequality is worse under President Obama than it was under President George W. Bush. More fundamentally, whereas the previous Administration’s policies were tilted towards the wealthiest Americans, President Obama has been focused on the middle class and those working to get into the middle class.
Inequality Was Worse Under President Bush than Under President Obama
According to the latest data from economist Emmanuel Saez, when the last economic expansion ended in 2007, the fraction of income going to the top 1 percent was the highest since 1928 and the fraction of income going to the top 0.1 percent was the highest ever recorded (the data go back to 1913). The share of income going to the very top remains high, but has come down and was lower in both 2009 and 2010 than in any year from 2005 through 2008.
It is difficult to evaluate changes in inequality over very short periods of time, especially when these coincide with a deep recession and dramatic fluctuations in equity prices. But there is no basis in the data for claiming that inequality under President Obama is greater than the historic levels reached under President Bush. Any suggestion to the contrary is based on a combination of ignoring the most obvious facts and treating the dramatic recovery of the stock market in 2009 and 2010 as if it tells a deeper structural story about the economy.
- Posted byon April 5, 2012 at 4:12 PM EDT
Earlier this week, I was back in my home state of Iowa talking with tech entrepreneurs about the Administration’s progress leveraging technology to innovate with less, improve transparency and efficiency, and better serve the American people. As fellow tech junkies, we spent plenty of time talking about Government’s role in open data, application programming interfaces to Federal systems and more. But we also had a chance to talk more broadly about the vital role start-ups and small businesses play in strengthening our economy, creating jobs, and nurturing innovation.
President Obama recognizes the critical role these types of high-growth startups and innovative entrepreneurs play in creating an economy that’s built to last. That’s why back in the fall – and again in his State of the Union Address – the President put forward a series of specific proposals to ease regulations that prevent aspiring entrepreneurs from accessing the capital they need to grow and create jobs. Today, the President put many of those proposals to work when he signed into law the Jumpstart Our Business Startups (JOBS) Act – a bipartisan bill that will help encourage startups and support our nation’s small businesses.
As the President said at today’s signing, “this bill is a potential gamechanger” for America’s entrepreneurs. For the first time, Americans will be able to go online and invest in small businesses and entrepreneurs. Not only will this help small businesses and high-growth enterprises raise capital more efficiently, but it will also allow small and young firms to expand and hire faster.
- Posted byon April 5, 2012 at 12:49 PM EDT
President Obama today signs the Jumpstart Our Business Startups (JOBS) Act, a bill that enacts many of his policies to encourage startups and support our nation’s small businesses. One key element of this legislation will allow small businesses and startups to harness "crowdfunding" as a means of accessing capital. How does "crowdfunding" work, you may wonder? StartUp America asked an entreprenuer, Dana Mauriello, Founder and President of ProFounder, which was created to give entrepreneurs and small business access to an easy and simple fundraising platform. Here's what she said:
- Posted byon April 4, 2012 at 6:58 PM EDT
Earlier today, I joined with First Lady Michelle Obama, to announce a major commitment by forward looking businesses that have launched an ambitious new effort to deliver more than 15,000 jobs to military spouses and veterans in the coming years. This new effort will help deliver jobs that are physically located near bases, as well as thousands of highly sought-after at-home employment opportunities to military families across the country.
Military families are 10 times more likely to move across state lines than civilian families. Home based jobs are especially valuable for military families because they can move with military spouses as they relocate from base to base across the country, accommodate flexible work hours, enable spouses who care for children or elderly parents to work from home, and give home-bound veterans with disabilities new opportunities to have a fulfilling job.
At home jobs with flexible work schedules can also lead to better work life balance, and extend job opportunities into communities often left behind. Military families will also benefit from the new job commitments being announced at nearly two-dozen physical contact centers located in close proximity to active military bases. These contact centers often support military families through: family-friendly scheduling, maintaining service accrual records, enabling the seamless transfer from one contact center to another in an event of a relocation, as well as extensive training and immense growth opportunities from agents to supervisors.
These companies and their associated job opportunities will also be integrated into the Military Spouse Employment Partnership (MSEP), a Department of Defense-led effort with more than 100 companies in the private sector who have committed to a focused effort on military spouse employment. MSEP was launched by Dr Jill Biden last summer.
Additional information specifics of the commitments can be found at: www.joiningforces.gov/commitments
- Posted byon April 3, 2012 at 2:07 PM EDT
The President believes this is a make or break moment for the middle class and those working to reach it. That’s why he has put forward a blueprint for an economy built to last - one where everyone gets a fair shot, everyone does their fair share, and everyone plays by the same rules.
Today at the Associated Press Luncheon, the President discussed how his vision differs with the radical vision laid out in the House Republican Budget:
“This Congressional Republican budget, however, is something different altogether. It’s a Trojan Horse. Disguised as deficit reduction plan, it’s really an attempt to impose a radical vision on our country. It’s nothing but thinly-veiled Social Darwinism. It’s antithetical to our entire history as a land of opportunity and upward mobility for everyone who’s willing to work for it – a place where prosperity doesn’t trickle down from the top, but grows outward from the heart of the middle class. And by gutting the very things we need to grow an economy that’s built to last – education and training; research and development – it’s a prescription for decline.”
The President’s approach to reducing our deficit is a balanced approach that asks the wealthiest to pay their fair share, achieves significant health savings and enacts sensible spending cuts while making the investments we need to have a strong middle class.
Take a look at how the President’s approach and the Congressional Republican policies stack up side by side:
- Posted byon March 28, 2012 at 2:49 PM EDT
Dr. Jill Biden was at the Mercer County Community College in New Jersey this morning, the latest stop in her “Community College to Career” tour. Last month, Dr. Biden and Secretary of Labor Hilda Solis hit the road for a bus tour through Ohio, Kentucky, Tennessee, and Virginia where they visited community colleges that have formed innovative partnerships with local business leaders to train students with the skills they need to join the area workforce.
Employers today are looking for skilled, educated workers, and they should be able to find those workers right here in the United States. Adam Dalton, a machine shop instructor at the Tennessee Technology Center in Harriman, Tennessee, said that “I have people calling me every week saying ‘I need guys and gals with this skillset, and we need them now.’”
Secretary Solis said that community colleges are becoming more adept and more agile at listening to the needs of local businesses, and are helping pair trained workers who need jobs with the employers who are looking to hire.
- Posted byon March 24, 2012 at 5:50 AM EDT
President Obama is calling on the House of Representatives to pass a bipartisan transportation bill that would repair crumbling roads and bridges and support construction jobs in communities all across America. According to a new report, 90 percent of these construction jobs are middle class jobs. The Senate passed the bill with the support of Democrats and Republicans because if the bill stalls in Congress then constructions sites will go idle, workers will have to go home, and our economy will take a hit.
- Posted byon March 23, 2012 at 11:16 AM EDT
The Ohio State University in Columbus was President Obama's final stop on this week's energy tour. It's home to the Center for Automotive Research, a hotbed of innovation in the fields of energy production and advanced vehicles.
There, President Obama had a chance to see the Buckeye Bullet -- an electric car that has already traveled at speeds in excess of 300 miles per hour. Engineers at the school told him that they're now aiming to design the vehicle so that it's capable of going more than 400 miles per hour.
Today, Buckeye Bullet is already the fastest electric car in the world, and at OSU, they're aiming to make it even faster. President Obama said that kind of ingenuity is "essential to American leadership."
He told the Columbus crowd:
[As] long as I’m President, we are going to keep on making those investments. I am not going to cede the wind and solar and advanced battery industries to countries like China and Germany that are making those investments. I want those technologies developed and manufactured here in Ohio, here in the Midwest, here in America. By American workers. That's the future we want.
As for the Buckeye Bullet, the President also promised that his daughter Malia, who will turn16 in a couple of years, will never drive 300 miles per hour, despite the vehicle's impressive success.
- Posted byon March 22, 2012 at 10:30 AM EDT
For too long, too many hard working Americans paid the price for policies that handed free rein to insurance companies and put barriers between patients and their doctors. The Affordable Care Act gives families the security they deserve. The new health care law forces insurance companies to play by the rules, prohibiting them from dropping your coverage if you get sick, billing you into bankruptcy because of an annual or lifetime limit, or, soon, discriminating against anyone with a pre-existing condition.
The new law also includes a number of key provisions designed to help make health care more affordable – and help address the drivers of health care costs. The new health care law is already making a difference. Many Americans are seeing lower costs, and health care spending growth in 2009 and 2010 decreased to record lows.
Here are more ways the law helps control costs for families and small businesses:
- The law’s small business tax credit has lowered health insurance costs for small business owners. On average, small businesses have paid about 18 percent more than large firms for the same health insurance policy. If you have up to 25 employees, pay average annual wages below $50,000, and provide health insurance, you may qualify for a small business tax credit of up to 35 percent (up to 25 percent for non-profits) to offset the cost of your insurance. This will bring down the cost of providing insurance.
- Holding insurance companies accountable for how they spend your premium dollars. In 2011, if health insurers don’t spend at least 80 percent of your premium dollar on medical care and quality improvements rather than advertising, overhead and bonuses for executives, they will have to provide you a rebate for that excessive overhead. The first rebates will be made in the summer of 2012.
- Preventing insurance companies from raising rates with no accountability or transparency. In every State and for the first time ever, insurance companies are required to publicly justify their actions if they want to raise rates by 10 percent or more. These efforts are paying off. In the last quarter of 2011 alone, States reported that premium increases dropped by 4.5 percent. And, in States like Nevada, premiums actually declined.
- Recommended preventive benefits without deductibles or copayments. Millions of Americans with Medicare and private insurance have seen their out-pocket costs go down to zero for recommended preventive care like flu shots or cancer screenings now covered with no cost sharing under the law. This puts more money back into people’s pockets, while making sure they get the preventive care they need.
- Posted byon March 22, 2012 at 9:23 AM EDT
Mark Hodesh, the owner of a home-and-garden shop in downtown Ann Arbor, MI, thinks there’s a lot of misinformation about the Affordable Care Act and its impact on small-businesses like his: “A lot of people say it’s a job killer. In my experience, it’s a job creator.”
To maintain a strong staff for the past 12 years, Mark works to provide health care coverage to his full-time employees and sees it as a key component to the store’s success. As Mark says, “We rely on long-term, well-informed good employees to compete with our box-store competition. The best way I know how to attract and keep good people is to have a good benefits package. Health care is a big part of that.”
The Affordable Care Act allows employers to claim a tax credit for up to 35 percent of their health insurance premiums. Mark says that while his insurance rates have skyrocketed over the past 10 years, the tax credit gave him the ability to hire another employee to his current staff of twelve.
- Posted byon March 22, 2012 at 8:32 AM EDT
This afternoon President Obama is visiting Ohio State University to highlight some of the nation’s most advanced energy-related research and development projects. Technological innovation is a key element in the Administration’s “all-of-the-above” strategy to reduce energy costs for consumers while protecting health and the environment—a strategy that focuses on developing cleaner and more efficient energy sources and also on novel ways to help consumers conserve energy and save money right now. That’s why we are pleased to co-host a White House event today at which utility company CEOs from across the country are committing to participate in the “Green Button” initiative.
Green Button is an industry-led effort that responds to a White House call-to-action to provide consumers with easy-to-understand data about their household energy use. At today’s event, nine major utilities and electricity suppliers will sign on to the initiative, committing to provide more than 15 million households secure access to their energy data with a simple click of an online Green Button. That builds on similar commitments made by utilities in January to provide Green Button capability to nearly 12 million households this year. With that information in hand, consumers can take advantage of a growing array of online services that can help them manage energy use and save on their bills.
Making America a Top Tourist Destination: Commerce and Interior Keep Up Efforts to Increase VisitationPosted byon March 21, 2012 at 6:05 PM EDT
Ed note: This was originally published on thecommerceblog, the offical blog of the Department of Commerce
This month, more than a million visitors from across the country and around the world are coming to our nation’s capital to see the cherry blossom trees that bloom each spring among some of America’s most treasured historical landmarks. From the purchase of airline tickets to dining in area restaurants to staying in hotels, these visitors are infusing millions of dollars into the community and supporting local businesses.
As we search for ways to grow our nation’s economy, we must not overlook the travel and tourism industry as a source for economic opportunity. According to data released by the Commerce Department earlier today, tourism spending increased 8.1 percent in 2011 and supported an additional 103,000 jobs, for a total of 7.6 million jobs.
A big factor in the increase was a surge in international visitors to our country: in 2011, 2.5 million more international visitors came to the United States compared with the previous year. These international visitors spent an all-time record of $153 billion on U.S. travel and tourism-related goods and services.
As this data reveals, the travel and tourism industry is one of the most important engines of our economy—in fact, it is our number-one service export. That is why President Obama recently announced the creation of a Task Force on Travel and Competitiveness, which charged us with leading efforts to develop recommendations for a National Travel and Tourism Strategy to promote travel throughout the United States.
We know that making it even easier to visit America’s most amazing places and working hard to tell folks about what an amazing place America is – whether you travel five or 5,000 miles to get here–will help grow our businesses and create jobs.
America is the land of extraordinary natural wonders and incredible landmarks–from the Grand Canyon and Yellowstone to the Golden Gate Bridge and the Empire State Building. We have it all right here and have a lot to offer our nation’s visitors.
With over 397 national park units, 556 national wildlife refuges, and 886 units of the national landscape conservation system, a particular focus on strategies for increasing tourism and jobs is by promoting visits to our national treasures. From hunting, fishing, hiking, and learning about our nation’s incredible history and cultural heritage, public lands and water provide plenty of recreational opportunities that can attract travelers from around the country and the globe.
- Posted byon March 19, 2012 at 2:57 PM EDT
Last week I was in Atlanta, on the campus of Georgia Tech for a “Day of Engineering” Facebook pep rally to kick off the President’s new Stay With It campaign devoted to recruiting, retaining and graduating 10,000 engineers each year to maintain America’s competitive edge. Corporate leaders, educators and students have gathered for dialog and panel discussions on the dire need to increase the number of American engineers. Fourteen universities from across the nation are participating via Facebook viewing parties. Spearheaded by Intel President & CEO, Paul Otellini, who is also a member of the President’s Council on Jobs and Competitiveness, the Stay With It campaign will provide mentors and other supports to increase the number of American engineering graduates which has fallen woefully behind other surging economies and has led to a shortage of skilled workers for American jobs.
More than 65 companies have already committed to doubling their 2012 summer engineering internships, including Intel, GE and DuPont – making an overall $70 million investment in giving students valuable hands-on experience. In addition, engineering deans from some of the nation’s top universities – including Georgia Tech – have developed a gold seal standard of excellence for colleges and universities focused on improved retention and graduation rates.
The participation of NASA and Intel is particularly important because aerospace and computer technology are clearly the growth industries of the future; but the only way to ensure that growth is by maintaining a constant pipeline of qualified workers. The centerpiece of our efforts to close the skills gap is the engagement of more students in the study of science, technology, engineering and math or the STEM disciplines.
NASA is now embarking on ambitious agenda of deep space exploration that will carry our astronauts to places where we have never been, including an asteroid and eventually Mars. We need engineers to help us design the new rockets and capsules that will carry us there. We need scientists and researchers to help us develop materials to withstand the stresses of deep space exploration, to sustain humans for long-duration stays in space, to make air transportation quicker, safer and more efficient and to aid us in our quest to unravel the mysteries of the cosmos and improve life here on Earth.
- Posted byon March 19, 2012 at 12:01 PM EDT
Earlier this month, I joined with a company called Orion International and 12 private sector companies in Ft Hood, Texas, one of America’s largest military bases, for one reason: to hire American Soldiers transitioning out of the world’s greatest Army.
These companies included: Allied Wire, HESS, Kansas City Southern Railway, Schlumberger, NOV, US Bank, USES, Dollar General, Honeywell, Siemens, Marathon and McCormick.
The event was full of excitement, education – and “win-win” opportunities for both the companies involved, as well as transitioning soldiers, some of whom were just weeks away from leaving the Army after having served our nation during a time of war.
With America hiring once again, events such as these are being seen more and more around the country – and for good reason: employers recognize the value of hiring veterans.
As Dave Ebbrecht, Executive Vice President for Kansas City Southern Railway, put it: “It was an absolutely great event with very good candidates, in every rank … capable of filling a variety of different positions for our company, and we ended up hiring 22 veterans from this event.”
That’s 22 Soldiers hired by one company… in one day… and 35 Soldiers have already been offered jobs. More than 100 soldiers are in some phase of an interview process.
- Posted byon March 16, 2012 at 5:07 PM EDT
Ed note: Dr. Jill Biden wrote this op-ed for USA Today.
Danny Anderson is an American hero. He is also a role model — in more ways than one.
Danny spent six years in the Army. He loved serving his country, and when he completed his time in the military, he was eager to find other ways to serve. So Danny decided to use his military benefits to earn his degree and enrolled in Hopkinsville Community College's nursing program. Through a partnership between Gateway Medical Center and Hopkinsville Community College in Kentucky, Danny became a registered nurse and is now employed in Gateway's emergency care department.
I met Danny last month when I traveled with Labor Secretary Hilda Solis on a five-state "Community College to Career" bus tour to highlight the types of successful community college industry partnerships that are working and can serve as models for the nation.
The impact Danny's community college education had on his life is clear — and is one I see replicated on community college campuses across the country, as well as in my own 18 years as a community college professor.
- Posted byon March 15, 2012 at 11:30 AM EDT
When you think of great American innovators, you think of names like Edison, Ford, Bell and Jobs. But the world’s next great technological breakthrough might be coming to life at this very moment in the basement of an unknown visionary somewhere in America. According to a recent article in the Dayton (Ohio) Daily News, that is exactly how Cornerstone Research Group (CRG) got started in 1997. With the help of NASA and a unique Federal initiative – the Small Business Innovation Research program (SBIR) -- CRG, which specializes in advanced materials, system engineering and manufacturing technologies, has grown from one man’s basement dream to a company with more than 60 employees, three spin-off subsidiaries and annual revenues of more than $10 million.
As President Obama’s Strategy for American Innovation says: “We can create the jobs and industries of the future by doing what America does best – investing in the creativity and imagination of our people.” That is exactly what SBIR does. Established in 1982 and administered by the Small Business Administration, SBIR’s mission is to support scientific excellence and technological innovation through the investment of Federal research funds in critical American priorities to build a strong national economy. Each year, NASA and the 10 other Federal agencies with extramural research and development (R & D) budgets that exceed $100 million are required to allocate 2.5% of their R&D budgets to small businesses. Since its inception, the SBIR program has awarded more than $26.9 billion. And according to the Dayton Daily News, from 2007 to 2010, nearly $93 million in federal SBIR funds went to 55 Dayton-area companies, including CRG.
- Posted byon March 15, 2012 at 10:37 AM EDT
As of March 15, 2012, the U.S.-Korea trade agreement – the most commercially significant U.S. trade agreement in nearly two decades -- is now in effect. The opportunities this agreement offers to American manufacturers, service providers, farmers, ranchers, and workers are key components of President Obama’s National Export Initiative, which aims to double American exports by the end of 2014 and support additional American jobs.
President Obama insisted that we get this agreement right, working with Congress, stakeholders, and our Korean government counterparts to address outstanding issues and then seal the deal. Now, greater export opportunities will make American businesses of all sizes more competitive in the global economy, and allow them to support more jobs for Americans in sectors ranging from automobile manufacturing to delivery services to agriculture of all kinds. Tariff cuts will increase exports of American goods alone by $10-11 billion, supporting an estimated 70,000 jobs across the country. Export opportunities will also grow as the agreement opens Korea’s $580 billion services market, streamlines customs procedures, reduces red tape, and better protects American intellectual property rights.