(April 17) – The House approved a key component of the House Democrats’ jobs and economic development package this morning, passing a bill to increase funding for the state’s Small Business Development Center system.
HB13-1002, sponsored by Rep. Max Tyler (D-Lakewood), was sent to the Senate on a bipartisan 41-22 vote. It will boost annual funding to $300,000 for the SBDC system, which leverages matching federal dollars to provide coaching and consultation to startup companies needing help with such basics as writing a business plan and securing capital. The idea is to help entrepreneurs turn their big ideas into businesses that are thriving – and hiring.
With only $85,000 in state dollars in 2012, the 14 SBDCs around the state trained 11,827 companies and provided consultation to 6,080 companies.
“SBDCs give us the highest return on investment of any of the state’s economic development programs,” Rep. Tyler said.