Press Releases

Washington, D.C. – Today, Congressman Donald M. Payne voted to create new jobs and boost the economy by supporting small business innovation in research and technology. The Enhancing Small Business Research and Innovation Act of 2009 (HR 2965), which passed by a vote of 386 -41, is part of the Democrats long-term economic blueprint to stimulate job creation by encouraging America's entrepreneurs to pioneer breakthrough technology. 

"Small businesses are the engines that drive innovation and spur new technologies in this country," said Payne. "Supporting small business research and development will create new products and millions of new American jobs for years to come."

The bill modernizes the government's largest small business research and development programs - the Small Business Innovation Research (SBIR) program and the Small Business Technology Transfer (STTR) program.  It also more than doubles the amount of the grants small businesses can apply for, thereby helping them engage in cutting-edge research.

The Enhancing Small Business Research and Innovation Act will broaden the pool of businesses that participate in the programs by reaching out to rural entrepreneurs, veterans, minorities and women. The bill will also make it easier for small businesses to find financing, allowing them not Washington bureaucrats, to decide how to raise capital. It also puts a greater emphasis on helping smaller firms bring their products to market.

"Every year, these programs help 1,500 new firms get off the ground," said Payne. "There's simply no more effective way to boost our economy than to support the small business innovation that creates new jobs, technologies and American industries."

Since 1992, the SBIR and STTR programs have awarded 65,000 grants to small companies that are leading research efforts to cure diseases, strengthen national defense and reduce our dependence on foreign energy sources. Without action by Congress, these programs will expire later this month.

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