Representative Murphy Authors First Amendment to Help Veterans Create Jobs and Develop Small Business

Tue. May 26, 2009; Posted: 06:50 PM

May 26, 2009 (Congressional Documents and Publications/ContentWorks via COMTEX) -- SBCO | Quote | Chart | News | PowerRating -- Washington, D.C. - Congressman Scott Murphy (NY-20) today took a major step toward creating and increasing job opportunities for veterans by authoring an amendment, his first since taking office, to The Job Creation Through Entrepreneurship Act of 2009 (H.R. 2352). This amendment would increase funding for a new Veterans Business Center program, like the Veterans Business Outreach Program of the Capital Region, to provide entrepreneurial training and counseling to veterans to create jobs and develop small businesses in their communities.

Veterans Business Centers will provide veterans with entrepreneurial development, counseling of veteran-owned businesses through one-on-one instruction and classes, and government procurement assistance.

"The brave men and women who have given so much to their country, have more than earned the right to have their country give back to them during these difficult and challenging economic times," said Rep. Murphy. "The amendment I am announcing today would raise the cap on grant assistance to help our veterans become successful entrepreneurs as they return home."

"By giving our veterans the opportunity to excel as small business owners, we help them not only continue to be the backbone of our communities, but of our economy."

Congressman Murphy's amendment would:

* Increase the grant sizes for "initial grants" from $150,000 to $200,000 per year per center;

* Increase the grant sizes for "growth funding grants" from $100,000 to $150,000 per year per center;

* Increase the authorized appropriations to carry out this subsection by $2,000,000 each per year to $12,000,000 in fiscal year 2010 and $14,000,000 in fiscal year 2011.

The Job Creation Through Entrepreneurship Act of 2009 reauthorizes the Small Business Administration's (SBA) entrepreneurial development programs, creates a new small business assistance program for veterans, and authorizes the SBA to establish a distance learning program and online networking forum for existing and potential entrepreneurs.

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