Last year, the Commonwealth’s Small Business Technical Assistance program helped create 299 businesses, and created or preserved 1,584 jobs in the Massachusetts. Thanks to the Massachusetts’ Legislature, small businesses will continue to turn to CDCs, and other recipients of this funding, to receive the assistance they need to develop, grow and sustain their operations. This program, administered by the Massachusetts Growth Capital Corporation, has been a top priority for MACDC since 2006, and FY 2016 marks the second consecutive year that the program has received $2 million.
MACDC was also excited to see the Legislature provide an additional $2 million for the Baker Administration’s Urban Economic Agenda program, which will work with urban entrepreneurs, promote small businesses, and create new jobs. MACDC is thrilled that the Massachusetts Legislature and the Baker Administration are allocating significant financial resources to further drive and stimulate the Commonwealth’s local economies.
“Small businesses across Massachusetts are central to our economy’s strength and vitality. Every business, no matter how large it may be today, started with just a few people, an idea and an abundance of passion,” Joe Kriesberg, MACDC’s President, noted. “What a small business needs is the knowledge, networks and capital to mature and develop into a sustainable business. The Small Business Technical Assistance program ensures that these services reach underserved markets, lower-income communities, immigrants, women and other people of color.”
The bill now sits on Governor Baker’s desk and he has until Saturday, July 18, to review, sign, or veto the whole bill or discreet line items, after which time, the legislature could act to override any such vetoes. MACDC fully expects both of these programs to be signed into law by the Governor.