RICHMOND, Va. (WWBT) – Vice President Kamala Harris celebrated National Small Business Week by touring a local manufacturing company and touting what she described as a ‘business boom’ under the Biden-Harris Administration.
Vice President Kamala Harris, taking center stage in front of dozens of politicians, business owners and community stakeholders, recognized the importance of small manufacturing businesses in Virginia and across the country.
“I firmly believe that small businesses and small business owners are the backbone of our economy,” Harris said.
Shortly before her remarks, Harris toured Babylon Micro-Farms, a pioneering manufacturing company in the agricultural industry. Babylon uses modern technology to empower and help customers grow fresh produce on-site, indoors, year-round.
Instead of soil, the microfarms operate using hydroponic systems, a water-based nutrient solution technique.
CEO and co-founder Alexander Olesen said it’s a process that uses 90% less water without pesticides or harmful chemicals.
“This is an important tool for food security and climate change,” Olesen said. “Each micro-farm is 15 square meters but has a capacity of 2,000 square feet of farmland.”
Olesen and Graham Smith are both founders of the revolutionary business. Together, they built their first hydroponic farm in 2016 while studying at the University of Virginia.
Last year, the Biden administration invested $150,000 through its State Small Business Credit Initiative (SSBCI) to help the company expand production, hire more employees and continue to shape the future of the agriculture industry, according to Harris.
“I think this is the kind of technology that will feed millions of people around the world,” Harris said.
During his visit, the vice president touted a new report on the administration’s Investing In America Agenda. Since the start of the administration, Harris said 10.5 million new small business applications were filed in 2021 and 2022.
She said small businesses have created 3 million jobs.
“There’s a small business boom,” Harris said.
While progress has been made in job growth, Harris is aware of concerns over barriers such as access to capital, and easing that is a priority.
“Across our nation, there are people who want to hire more employees, want to open more stores, fill their warehouse,” Harris said. “But unfortunately they don’t always have the capital to do that.”
The vice president said one way to expand access to capital is by investing in community banks.
“As many of you know, community banks provide capital and financial support to small businesses, and especially businesses that are overlooked and in underserved communities,” Harris said.
Harris also promised that the administration would rebuild America’s manufacturing sector, as over 70% of manufacturing companies are small businesses.
“When we invest in small businesses, we invest in America,” Harris said.
Copyright 2023 WWBT. All rights reserved.
—————————————————-
Source link