Senate Approves Small Business Innovation Program U.S. Senator Olympia J. Snowe (R-Maine), commended her Senate colleagues for approving a reauthorization of the Small Business Innovation Research (SBIR) program.
PoliticalNews.me - Dec 01,2011 - Senate Approves Small Business Innovation Program
WASHINGTON, D.C. – U.S. Senator Olympia J. Snowe (R-Maine), commended her Senate colleagues for approving a reauthorization of the Small Business Innovation Research (SBIR) program. The program gives small firms the ability to develop and market innovative technology, and create new jobs within the United States. The measure was approved by the Senate’s Small Business Committee on March 9 by a vote of 18 – 1. The legislation approved unanimously today by voice vote was added as an amendment to the pending National Defense Authorization Act for 2012.
Senator Snowe said:
“Continuing these programs will mean more high-paying jobs for families in Maine and elsewhere. Small businesses are our nation’s job generators, employing more than half of all private sector employees and creating 64 percent of the net new jobs over the past 15 years. They also represent 99.7 percent of all employer firms. Small businesses are also our nation’s most effective innovators, producing roughly 13 times more patents per employee than large firms – patents which are at least two times as likely to be among the top one-percent of high-impact patents. Program participants have produced more than 85,000 patents and have generated millions of well-paying jobs across all 50 states.”
Small Business and Entrepreneurship Committee members have tried since 2006 to get a bill to the President’s desk that provides a long-term reauthorization to operate these programs. In December of last year, the Senate was able to unanimously pass and send to the House a new compromise that blended the House and Senate bills, bringing together advocates that had been divided for over six years. The compromise continues to have the support of the Biotechnology Industry Organization, the Small Business Technology Council, the National Small Business Association, the U.S. Chamber of Commerce, the National Federation of Independent Businesses, the National Venture Capital Association, local technology groups, and various universities.