Federal funding will promote and support entrepreneurship and small businesses
Washington, D.C. - U.S. Senators Arlen Specter and Bob Casey today announced that the U.S. Senate Appropriations Committee has approved federal funding for several Pennsylvania small business initiatives. The projects are contained in the Fiscal Year 2010 Financial Services Appropriations Bill.
“These initiatives will help to strengthen Pennsylvania’s small businesses and promote entrepreneurship,” Senator Specter said. “This funding comes at a critical time during our economic recovery, and I applaud my colleagues for supporting these projects.”
“This funding is great news for Pennsylvania and I am grateful that members of the committee approved it,” said Senator Casey. “This funding will help spur innovation and promote economic development in the Pennsylvania.”
The bill must be approved by the full Senate, the House of Representatives and signed into law by the President before funding is final.
Pennsylvania projects in the bill include:
• $175,000 for Delaware Valley Industrial Resource Center (DVIRC) for small business succession planning services. DVIRC will develop and implement a manufacturing education and training curriculum that will assist participating companies expand their businesses.
• $100,000 for Philadelphia Community College for the Northeast Regional Center for workforce education, training, and business development that will stimulate the creation of at least 105 jobs.
• $100,000 for the Northwest Pennsylvania Incubator Association in Erie to provide entrepreneurs with working capital to generate new businesses.
• $50,000 for the Urban League of Philadelphia Entrepreneurship Center. The Entrepreneurship Center will provide management skills, infrastructure tools and resources that will enable minority entrepreneurs to grow and take advantage of new business and financing opportunities.
• $50,000 for the Pittsburgh Life Sciences Greenhouse for the Tech Belt Biosciences Initiative (TBBI), which will provide consulting services and marketing efforts to increase venture capital flow and the formation of new technology companies in the Pittsburgh region.
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