Small and local businesses are the foundation of America’s economy. These businesses create two out of every three new jobs in America, and help spur economic development in urban and rural communities. From the family owned storefront shops that anchor communities to the high-tech startup in someone’s garage, small businesses are the backbone of our economy and the cornerstones of our Nation’s future.
True to his architecture and housing roots, HUD Secretary Shaun Donovan shopped today at Northwest Lumber in Cornwall Bridge, CT in support of Small Business Saturday. Northwest Lumber is a local small business that supplies homeowners and other small businesses with tools and products for home improvements.
Small Business Saturday is a day to support local small-businesses that create jobs, boost the economy and preserve neighborhoods around the country. This money goes right back into the local economy in many different ways. When buying a power tool you help keep the store open, which helps the owner hire or preserve a job and that person in turn will have income to purchase other items which will have the same effect in another local business.
Project Rebuild, part of the American Jobs Act proposed by President Obama will also help do that. By revitalizing abandoned and foreclosed homes and businesses, Project Rebuild will create over 200,000 local construction jobs across the country and thousands more as a direct impact from the revitalization. Project Rebuild will also allow for the revitalization of business corridors which are vital to a neighborhood’s economic recovery and will allow for more local jobs to be created.
The Obama Administration is committed to helping small businesses and the American Jobs Act and Project Rebuild are an example of his vision for economic recovery and long-term growth.
Let’s all do our part to help America’s small businesses do what they do best: create jobs.