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President Biden’s strategy to build the American economy from the core out and from the bottom up has already yielded extraordinary results. This includes an unprecedented number of applications to start businesses our nation has ever experienced: more small business applications have been submitted since January 2021 than in any other period in our nation’s history. During this time, more than 18 million applications have been submitted nationwide. In the Pacific Northwest, we have seen nearly 650,000 applications submitted, including 30,000 applications submitted in Alaska.
Because of the SBA’s commitment to reaching people where they are, this historic small business boom has been led by immigrant and Hispanic entrepreneurs who are creating businesses at an accelerated pace. Our enhanced outreach includes increased engagement with organizations that work with underserved communities, providing resources and services in multiple languages, and sharing information through media channels that are of particular appeal to these communities.
The Biden-Harris strategy continues to bear fruit with initiatives like Investing in America, a program being implemented across the country. We are already seeing much-needed services being implemented from coast to coast that benefit consumers, nonprofits, and entire communities. And these exciting programs are gaining even more momentum.
He U.S. Small Business Administration The SBA is excited about the prospects that Investing In America offers. Not only will small businesses benefit from investments in infrastructure, facilities, and communities, but estimates for hiring and other opportunities specific to small businesses total an impressive $50 billion. To help small businesses learn about the programs in each of their states, the SBA created an information center at www.sba.gov/IIAhubPrograms of special interest to small businesses are:
Bipartisan Infrastructure Act: With $454 billion going to states, tribes, territories and local governments, improvements to roads, water systems and more will be addressed. Small businesses can compete as contractors or subcontractors for a wide range of project services. The SBA can help you learn more about those opportunities, as well as steps you can take to set your business up for success.
CHIPS for America: The Commerce Department has received $50 billion for a range of programs aimed at strengthening semiconductor research, development and manufacturing in the country while investing in American workers. Earlier this month, the Commerce Department announced the process for selecting the first three research and development facilities to be funded. More opportunities will be announced soon.
Industrial assessment centres: Small and midsize manufacturers can receive a free assessment to save on energy costs and then apply to the Implementation Grant Program for up to $300,000 in funding per project. The Department of Energy accepts applications quarterly and the next deadline for applications is Oct. 1.
Rural Energy Program for America: The Pacific Northwest is vast and contains many rural and remote areas. To address the specific needs of small businesses and agricultural enterprises in those regions, the Rural Energy for America Program can help lower energy costs and grow those businesses. The Rural Energy for America Program provides guaranteed loan financing and grants to help agricultural producers and rural small businesses install renewable energy systems.
These programs benefiting small businesses are in addition to the services already offered by the SBA. For decades, entrepreneurs across the Pacific Northwest have seen their businesses thrive by partnering with us to receive SBA-backed loans, advisory services, hiring support, and disaster assistance. Investing In American opportunities can provide you with additional insights and resources for your business success.
Beto Yarce President Joe Biden appointed him to oversee SBA programs and services as the agency’s regional administrator for the Pacific Northwest, serving Alaska, Idaho, Oregon, and Washington. To learn more about how the SBA can help your small business start, grow, expand, or recover, visit www.sba.govFor Spanish, visit www.sba.gov/es.
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