SHAHEEN: SMALL BUSINESSES WILL DRIVE JOB CREATION
(Washington, D.C.) - U.S. Senator Jeanne Shaheen today visited Mikros Manufacturing Inc. in Claremont where she discussed the resources available to New Hampshire businesses so that they can expand and create jobs. This week the Senate has been considering the Small Business Jobs Act, which would promote exporting, offer targeted tax relief, and expand access to credit for small businesses, and earlier this year passed the HIRE Act to encourage businesses to create new jobs. Mikros Manufacturing, a manufacturer of ink jet printer components and copper cold plates used for cooling technologies, is an example of a New Hampshire business that is eligible for tax credits.
"While we have seen some signs that our economy is beginning to recover in New Hampshire, we still need to create more jobs to fully emerge from this recession. That's why we need to pass the Small Business Jobs Act," said Shaheen. "The tax credits, lending opportunities, and export support in this legislation will help companies like Mikros Manufacturing get the help they need to grow in this economy."
Mikros Manufacturing currently employs 24 people, and is hoping to add more employees thanks in part to tax incentives in the HIRE Act. Mikros Manufacturing could also benefit from a number of provisions in the Small Business Jobs Act that would provide targeted tax relief and free up additional capital, giving the company more resources to grow and create new jobs.
"We enjoyed Senator Shaheen's visit to Mikros Manufacturing as a means of highlighting cutting edge New Hampshire-based technology. It was great to hear more about what the federal government is doing to assist small business like Mikros in this difficult economy, and we are hoping that the HIRE Act and Small Business Jobs Act will help us expand our business and provide more high quality jobs to the area," said Stephen Sheehan, Vice President of Operations and General Manager for Mikros Manufacturing.
Mikros Manufacturing is also looking to expand their exporting and would be eligible to take advantage of increased export assistance from the U.S. Small Business Administration and the Department of Commerce following passage of the Small Business Jobs Act.
Passed by the Senate in February, the HIRE Act includes a payroll tax holiday for businesses that hire unemployed workers; a tax break for small businesses purchasing machinery and equipment (Section 179 Expensing); and an expansion of the Build America Bonds program to allow states and municipalities to borrow for infrastructure projects at a lower cost for taxpayers.
