President Joe Biden’s Investing in America agenda (IIA) is delivering generational investments to grow America’s economy, restore competitiveness, tackle climate change, and reshore manufacturing — all while strengthening our small businesses, which are the backbone of our economy.
The Investing in America economic agenda has fueled a historic nationwide Small Business Boom, with the first, second, and third strongest years of new business applications on record occurring in Biden’s first three years in office. New Census data shows that the United States has exceeded 17 million new business applications filed since 2021 — including 73,000 in Montana.
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With the end of the pandemic, and the reopening of SBA offices nationwide, we are seeing an increasing demand for our business training services, lending programs, and information on ways business owners can secure federal government contracts. The Investing in America agenda refers to four major bi-partisan laws signed and enacted during President Biden’s first three years in office: The American Rescue Plan Act, the Bipartisan Infrastructure Law, the CHIPS and Science Act, and the Inflation Reduction Act.
Each of the four new laws includes major new public investments in our economy and in America’s critical systems. These four laws have set in motion a rebuilding of our roads, bridges, airports, strengthening supply chains, upgrading our clean energy and clean water systems, and much more. To date, these historic laws have secured funding for more than 23,000 infrastructure projects across the U.S. including $1.5 billion for electric vehicle charging stations on U.S. Highways and expanded affordable internet access for 16 million households. All this while also attracting more than $425 billion in total private sector manufacturing investments and sparking the creation of over 800,000 new manufacturing jobs.
To help entrepreneurs access the benefits of these four new laws, SBA Administrator Isabel Casillas Guzman made sure small firms have the resources, tools, and know-how to capitalize on vast new federal investments that are available today or in the near future. That’s why the SBA launched its new Investing in America Small Business HUB which is located at www.sba.gov/IIAhub.
The Investing in America Small Business Hub will assist entrepreneurs in connecting to the resources, funding opportunities, and support they need to capitalize on these opportunities and strengthen their businesses. At this HUB, business owners will get information on how to apply for the many Inflation Reduction Act rebates and tax credits to complete home energy efficiency projects. Business owners will also learn about the federal construction projects funded by the IIA in their state and determine how the CHIPS Act may benefit their bottom line.
The IIA Small Business Hub includes new technological assistance guides to help entrepreneurs access Investing in America grants, contracts, and market opportunities. It also highlights SBA resources that can help business owners access the capital they need to scale and the certifications they need to qualify for IIA funding. As part of this effort, the SBA will collaborate with other federal agencies to host local events and webinars to connect directly with small businesses and provide assistance on how to access IIA contracting opportunities, as well as incentives such as home energy rebates and tax credits.
There has never been a better time for entrepreneurs to benefit from historic federal programs that directly benefit our business community. For more information on the Small Business Hub, visit www.sba.gov/IIAhub.
In addition to the Small Business Hub, entrepreneurs are encouraged to visit SBA’s website at www.sba.gov to learn about other resources available to start, grow, or expand their business. Also, please remember to follow us on LinkedIn and on Twitter @SBArockymnt.
Aikta Marcoulier is the SBA’s Region 8 Administrator based in Denver. She oversees the agency’s programs and services in Colorado, Montana, Utah, North Dakota, South Dakota, and Wyoming.
