Tyler’s Small Business Development Bill Passes First Committee
February 22, 2012
(Denver) – A cornerstone of House Democrats’ 2012 jobs package advanced today when a bill to bolster funding for a successful small business program received bipartisan support in the Economic & Business Development Committee.
The panel voted 10-3 to advance Rep. Max Tyler’s HB12-1129 to the Appropriations Committee.
The bill seeks an extra $300,000 for the state’s network of Small Business Development Centers, which leverage local and federal matching funds to provide instruction and consulting to help turn entrepreneurs’ big ideas into businesses that are thriving – and hiring.
Rep. Tyler (D-Lakewood) summarized why the SBDC program should be a high-priority investment for state economic development dollars.
“With a staff of four and a General Fund appropriation of less than $85,000, the centers served over 5,500 businesses, created 1,700 new jobs, over 3,600 jobs retained and assisted in more than $132 million in small business capital formation, and this was in 2011,” he told the committee.
The bill is supported by business community institutions like the Denver Metro Chamber of Commerce, the National Federation of Independent Businesses and the state Economic Development Commission.
“We have a proven, successful program in Colorado that’s been working for over 20 years,” Rep. Tyler said.