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SBA Northeast Region ANNOUNCES FUNDING PROGRAM & NEW JOB NUMBERS FOR US ECONOMY

Feb 7, 2020 | , ,

WYBN TV 14 News – Windham NY  2/7/2020

 

sba-logo SBA Northeast Region ANNOUNCES FUNDING PROGRAM & NEW JOB NUMBERS FOR US ECONOMY Business Business Opportunities Top Stories [your]NEWS

 

SBA Announces STEP Funding Opportunity

Grants for small businesses available to take their businesses global

WASHINGTON – The U.S. Small Business Administration announces the opening of the submission period for a funding opportunity through the State Trade Expansion Program. The purpose of the grant opportunity is to invite proposals to fund eligible state entities to provide assistance, guidance and tools to small businesses interested in exporting goods and services.

“Under President Trump’s leadership, our nation has embarked on the implementation of new, modern trade agreements. As we continue to see more fair and reciprocal trade deals enacted, exporting is a tremendous way for American small businesses to grow and compete in a global economy,” said SBA Administrator Jovita Carranza. “The STEP grant program is an incredible tool, providing direct support to small businesses as they seek new and increased international sales opportunities.”

Small businesses located New York, New Jersey and Puerto Rico have had great success through this opportunity funded by the federal government and dispersed through New Jersey Business Action Center, Empire State Development Corporation and Puerto Rico Trade & Export Company.

In the Garden State, Metuchen manufacturer SPEX CertiPrep had received three grants totaling around $10,00have helped the company secure a sizeable order with a Saudi Arabian company in addition to getting exposure to potential customers in Australia, China, Dubai, Vietnam, India and Japan.  Central New York’s Air Innovations, which produces floral display cases and wine cellars as well as air conditioning and filtration devices for the aerospace, military, semiconductor and pharmaceutical sectors, used their STEP grants to double their exports that now represent about 30% of their total annual revenue.  And multiple small businesses in Puerto Rico have received part of the $300,000 in funding from FY19 awarded to the Puerto Rico Trade & Export Company.

“At the SBA, we offer financial products and training to help small businesses capitalize on international opportunities,” said SBA Atlantic Regional Administrator Steve Bulger. “Through the STEP program, we make additional resources available to small businesses so they may thrive in the global market and further stimulate job creation.”

Funding Opportunity Announcement No. OIT-STEP-2020-01  is for fiscal year 2020 and the submission period is from February 6, 2020 – April 7, 2020.  Proposals responding to this Funding Opportunity Announcement must be posted to grants.gov no later than 11:59 p.m. (EDT), April 7, 2020. No other method of submission is permitted.

For more information on submissions guidelines and rules for this funding opportunity, please visit grants.gov.

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SBA Administrator Carranza’s Statement on

January 2020 Jobs Report

WASHINGTON – U.S. Small Business Administration Administrator Jovita Carranza today issued the following statement in response to the Bureau of Labor Statistics’ Employment Situation Summary for January. According to the just-released report, 225,000 new jobs were created in January, and the employment rate rose slightly to 3.6 percent due to the labor force participation rate increased to 63.4%. The report comes on the heels of two reports released this week indicating new U.S. jobless claims fell by 15,000 to 202,000 – a 50-year low – while private payrolls soared by 291,000 in January, the largest gain in nearly five years. 

 

Administrator Carranza said:

 

“Today’s jobs report is welcome news for America’s 30 million small businesses. Small businesses are investing, expanding, and creating new jobs, and more underrepresented Americans are experiencing upward economic mobility as a result. Income inequality is shrinking and wages are rising fastest among workers who have historically been left behind, including low-income women, African Americans and Latinos. Small businesses remain extraordinarily optimistic about the future, in large part because of this Administration’s success in lowering the cost of taxes and regulations, opening up new export markets, and advancing innovative solutions on healthcare and workforce development. Today’s news is affirmation that the President’s policies are benefitting small businesses and helping more Americans climb the economic ladder.”

 

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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.  The federal agency delivers services through an extensive network of SBA field offices and partnerships with public and private organizations. To learn more, visit www.sba.gov.

Matt Coleman

Regional Communications Director
Atlantic Region: New York, New Jersey, Puerto Rico, U.S. Virgin Islands

212-264-7750   |   matthew.coleman@sba.gov   |   @SBAatlantic

sba-logo SBA Northeast Region ANNOUNCES FUNDING PROGRAM & NEW JOB NUMBERS FOR US ECONOMY Business Business Opportunities Top Stories [your]NEWS sba-logo SBA Northeast Region ANNOUNCES FUNDING PROGRAM & NEW JOB NUMBERS FOR US ECONOMY Business Business Opportunities Top Stories [your]NEWS

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