On Thursday, President Obama signed the Jumpstart Our Business Startups (JOBS) Act, a bipartisan bill that enacts many of the President’s proposals to encourage startups and support our nation’s small businesses. The JOBS Act will allow Main Street small businesses and high-growth enterprises to raise capital from investors more efficiently, allowing small and young firms across the country to grow and hire faster.
Charlotte City Council Member and Past President of the National League of Cities James Mitchell Jr. joined the White House for the signing and shared his thoughts:
I was thankful to be invited to attend President Obama’s signing of the Jumpstart Our Business Startups Act. The President has shown great leadership with his clear and consistent effort to make this Act a reality, beginning with the inclusion of the JOBS Act in the State of the Union.
Small businesses are the lifeblood of America’s hometowns. The JOBS Act will help these businesses gain much needed capital to make new investments and will encourage them to expand their operations. This Act will assist our nation’s hometowns by helping entrepreneurs and start-ups outside the traditional geographic venture capital areas to find investors to create the next generation of innovative products and services.