SHAHEEN: LONG TERM AUTHORIZATION OF SMALL BUSINESS PROGRAM IS CRUCIAL

(Washington, DC) – U.S. Senator Jeanne Shaheen (D-NH) repeated her call today for a long-term reauthorization of a critical small business innovation program. A four-month extension of the Small Business Innovation Research (SBIR) program passed in the House last night and in the Senate last week. It now goes to the President for his signature.

“Congress must support small businesses and foster a positive business climate. Helping our small business innovate and develop new technology can help us stay competitive in today’s global economy,” Shaheen said. “While a short term extension is a step in the right direction, we have more work to do. Companies need the certainty of a long term authorization in order to take full advantage of this program. I will continue to work with my colleagues to help small businesses create jobs and grow our economy.”

Shaheen has been a leading advocate for SBIR. An eight-year extension was introduced by Shaheen and a bipartisan group of her fellow Small Business Committee members on March 4.

First created by legislation from New Hampshire Senator Warren Rudman, SBIR was established in 1982 to increase participation of small, innovative companies in federally funded research and development. Since its creation, New Hampshire firms have received over $330 million in research grants through the SBIR program. Over the last two years, New Hampshire firms received 80 total awards totaling $26 million in grants through SBIR. Despite its size, New Hampshire is ranked 22nd in the nation for total grants awarded through the Department of Defense over the life of the program.

The bill number is S.1082.