LEWISTON, ME - On Wednesday, September 8th, Congressman Mike Michaud, a member of the House Small Business Committee, will kick off a tour of small businesses in order to hear directly from them about their successes and challenges. He will also speak with them about their use of state and federal resources in order to determine what changes are needed at the federal level to further help small businesses grow and create jobs.
A number of the businesses Michaud will visit have worked with Maine's Small Business Development Center (SBDC), which is a cooperative effort of the private sector, the educational community and federal, state and local governments that offer one-stop assistance to individuals and small businesses. Others have received guidance from the Knowledge Transfer Alliance (KTA), an initiative Michaud helped support funding for that connects Maine businesses and communities with the tools they need to recover from economic and natural disasters. KTA also helps develop solutions to prevent future hardships and create sustainable frameworks so that businesses may thrive in the future.
While Michaud has long been a supporter of programs like the SBDC, he has been frustrated with the U.S. Senate's inaction on a number of initiatives that would help small businesses, especially during this economic downturn. For example, in June the House passed a bill that would leverage up to $300 billion in loans for small businesses through a $30 billion lending fund for small and medium-sized community banks, which focus on lending to small firms. The House also passed a bill that would increase the capital gains tax cut for those who invest in small businesses and increase to $20,000 (from $5,000 in current law) the deduction for start-up expenditures in connection with investigating the creation of a business. The Senate has yet to pass either of these important bills.
In addition, Michaud worked with his colleagues on the Small Business Committee to pass a number of policies into law, including the elimination of certain SBA loan fees and an increase in federal loan guarantees to make access to capital more affordable and available. Those provisions expired in May because the Senate has not acted to renew them.
Schedule of the three day event:
Wednesday, September 8, 2010 -- Lewiston/Auburn
12:30 PM Maine Organic Milling, Inc.
(Old Blue Seal Factory - 84 Goldthwaite Road - Auburn)
2:30 PM Boxes & Bags, Unlimited
(765 Webster Street - Lewiston)
4:00 PM Baxter Brewing Company
(Bates Mill Complex - Lewiston)
Thursday, September 9, 2010 -- Bangor Area
11:15 AM Wallace Brothers - Sperry Nets, Inc.
(90 Goulds Ridge Road - Passadumkeag)
1:00 PM KB Corporation
(122 Penny Road - Old Town)
Friday, September 10, 2010 -- North of Bangor/Presque Isle
9:00 AM Millinocket Fabrication and Machine
(432 Katahdin Avenue - Millinocket)
12:30 PM Wood Prairie Farms
(49 Kinney Rd - Bridgewater)
2:45 PM CNL Auto
(581 Main Street - Presque Isle)
4:00 PM Northern Prosthetics
(40 North Street - Presque Isle)