President Biden’s strategy to build the American economy from the middle out and bottom up has already garnered extraordinary results. This includes an unprecedent number of applications to start businesses than our nation has ever experienced: more small business applications have been filed since January 2021 than in any period in our nation’s history. During this time, over 18 million applications have been filed nationally. In the Pacific Northwest, we’ve seen nearly 650,000 applications filed: 30,000 applications filed in Alaska; 105,000 in Idaho; 183,000 in Oregon and 329,000 in Washington.
Due to the SBA’s commitment to meeting people where they are, this historic small business boom has been led by immigrants and Hispanic entrepreneurs who are starting companies at a rapid pace. Our enhanced outreach includes increasing engagement with organizations working with underserved communities, providing resources and services in multiple languages, and sharing information via media channels that are of particular appeal to these communities.
The Biden-Harris strategy continues to pay off with initiatives like Investing In America, a program that is rolling out across the country. We’re already seeing much-needed services being implemented from coast-to-coast which is benefitting consumers, non-profits and entire communities. And these exciting programs are gaining even more momentum.
The U.S Small Business Administration is enthusiastic about the prospects under Investing In America. Not only will small companies benefit from the investments in infrastructure, facilities and communities, estimates of contracting and other opportunities specifically for small businesses clock in at an impressive $50 billion. To help small businesses learn about the programs in each of their states, the SBA created an information hub at www.sba.gov/IIAhub . Programs of particular interest to small businesses are:
Improvements to roads, water systems and more will be addressed now that $454 billion in funding is headed to states, Tribes, territories and local governments. Small businesses may be able to compete as a contractor or subcontractor for a large array of project services. The SBA can help you learn more about those opportunities as well as the steps you can take to set your company up for success.
The Department of Commerce has been provided with $50 billion for a suite of programs to strengthen domestic semiconductor research, development and manufacturing while investing in American workers. Earlier this month, Commerce announced the process to select the first three R&D facilities that will be funded. More opportunities will be announced soon.
Small and mid-size manufacturers may receive a no-cost assessment to save on energy costs then apply to the Implementation Grants Program for up to $300,000 in funding per project. Applications are accepted by the Department of Energy quarterly and the next deadline to apply is Oct. 1, 2024.
Rural Energy for America Program
The Pacific Northwest is vast with many rural and remote areas. To address needs specific to small businesses and agricultural firms in those regions, the Rural Energy for America Program can help cut energy costs and grow those companies. REAP provides guaranteed loan financing and grant funding to help agricultural producers and small rural businesses install renewable energy systems.
These programs benefitting small businesses are on top of the services already being offered by the SBA. For decades, entrepreneurs throughout the Pacific Northwest have seen their businesses thrive by partnering with us to receive SBA-backed loans, counseling services, contracting support and disaster assistance. Investing In America opportunities can provide additional prospects and resources for your business’s success.
For more information on how the SBA can assist your small business start, grow, expand or recover, please visit www.sba.gov. Para Español visita www.sba.gov/es
(Beto Yarce was appointed by President Joe Biden to oversee
the SBA’s programs and services as the agency’s Regional Administrator for the
Pacific Northwest serving Alaska, Idaho, Oregon and Washington.)
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To schedule an interview with Beto Yarce or learn more about the U.S. Small Business Administration, please contact:
Silvia Klatman
Talk/text: (206) 852-7538
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About the U.S. Small Business Administration
The U.S. Small Business Administration makes the American dream of business ownership a reality. As the only go-to resource and voice for small businesses backed by the strength of the federal government, the SBA empowers entrepreneurs and small business owners with the resources and support they need to start, grow or expand their businesses, or recover from a declared disaster. It delivers services through an extensive network of SBA field offices and partnerships with public and private organizations. To learn more, visit www.sba.gov.