June 13, 2012

State of Alabama
Press Release: Alabama Department of Commerce

Details Released on White House Plan to Boost Small Business

June 12, 2012

By Matt Breen, Evening Anchor

WASHINGTON, D.C (KTIV) - Rural America will "lead the charge" as the country builds its way back from economic crisis. That's what President Barack Obama believes.

In a new report, released on Monday, the White House pins its hope for prosperity on rural businesses.

The White House says, in the last year, small businesses got $400-million. President Obama wants to invest another $2-billion through 2016. President Barack Obama says, "This is a great deal. And, at zero cost to taxpayers. The investment get private money matched with public money. And, tapayers actually make a little bit of money on this. Make sure that small businesses get access to financing for all kinds of ideas."

The money will come from the Small Business Investment Company, which helped some of the world's best-known businesses get their start. Karen Mills, Small Business Administration says, "Businesses like Apple, and Intel, and FedEx."

Karen Mills, who heads the Small Business Administration, says small businesses need then help, now. Karen Mills, Small Business Administration says, "A lot of the existing money from the market and venture capitalists stay on the two coasts."

Mills wants to make sure that money moves from big businesses, to small ones. Karen Mills, Small Business Administration says, "We need to make sure that they have the capital they need to do what they do best... and that's to grow and create jobs." Jobs in green energy. Karen Mills, Small Business Administration says, "They are growing in everything from assessing wind energy to biomass."

But, the White House plan will push the government to use renewables, too.. That could create a market for many small businesses willing to "go green." President Barack Obama says, "We've seen real progress." Progress the president hopes will lead to small business success, and a big win in November.



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