Feingold discusses his E4 Initiative in Madison
FEINGOLD KICKS OFF E4 INITIATIVE IN MADISON
WITH FOCUS ON SMALL BUSINESS INNOVATION
Initiative Also Includes Legislation to Strengthen Education and Workforce
Development
September 3, 2008
Madison, WI – Today, U.S. Senator Russ Feingold met with Madison-area business and education leaders to discuss part of his “E4” Initiative, which aims to fuel job creation and enhance workforce development efforts. The initiative – dubbed “E4” because of its focus on Economy, Employment, Education, and Energy – will include legislation to boost small business innovation, support job growth in the emerging energy sector, enhance workforce development, and build new education partnerships. This morning Feingold met with members of the Wisconsin Technology Council to discuss the piece of the initiative that focuses on supporting small business innovation. He is also discussing the broader E4 initiative at the City of Fitchburg’s Business Appreciation Luncheon.
Supporting Small Business Innovation
Feingold met with members of the Wisconsin Technology Council, where he discussed his bill to reauthorize and substantially increase two federal programs that can do the most to support innovative small businesses: Small Business Innovation Research Grants and the Small Business Technology Transfer Program. His bill will substantially increase federal agency grant funding for innovation and research to small businesses - and for university and research institutions working with small businesses.
“Wisconsin’s unique strengths that offer huge potential for job growth and economic development and our small businesses are the engines that can drive it,” Feingold said. “In a changing economy, Wisconsin has the potential to be a national and global leader in addressing emerging challenges while creating jobs and spurring economic development. To take one area as an example, I’ve been told that Wisconsin can be the ‘Silicon Valley’ of water technology. Nurturing this opportunity will yield more jobs leading to more growth while addressing an issue with global implications. My upcoming legislation to increase funding for Small Business Innovation Research grants could offer important assistance to small businesses that can have a great impact on the economic success of Wisconsin.”
“The SBIR program has been a successful federal vehicle for spurring innovation and transferring ideas from the laboratory to the marketplace. We urge Congress to reauthorize the program while increasing the pool of competitive grant dollars and encouraging more follow-on private investment,” said Tom Still, president of the Wisconsin Technology Council. “We appreciate Sen. Feingold’s attention to an issue that will leverage Wisconsin’s technology strengths.”
“Small high technology businesses are major national assets necessary to transform technologies into viable products to create global value and local jobs, and to motivate our youth to pursue science, math, and engineering capabilities. Senator Feingold’s recommendations and support of small business are on target and vital to fuel our sustainable economic competitiveness,” said Tom Crabb, Co-founder and CFO of ORBITEC.
Feingold’s legislation proposes to, over a three year period, quadruple the proportion of federal agency R&D budgets that go to small businesses. It will also establish and emphasize key national priority areas for small business innovation and research grants in energy innovation; water quality and security; domestic security and transportation. The legislation is offset as to not add to the federal deficit.
Yesterday, Feingold rolled out the E4 initiative in Milwaukee with a visit to Procorp Enterprises, a Milwaukee-area small business specializing in sustainable water and wastewater treatment solutions. Feingold visited the facility and met with area business and research leaders to discuss how the federal government can help small businesses grow and address emerging challenges.