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| Wilson Congratulates Growing Albuquerque Business |
August 12, 2004 |
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| Kendal Machinery Benefits from Tax Incentive
Albuquerque, NM - Congresswoman Heather Wilson today congratulated a growing Albuquerque small business which recently benefited from a small business growth incentive she supported.
Kendal Precision Machinery just hired four more people, and continues to grow and plan for more success. Wilson today toured the business, spoke with employees and discussed the company’s plans for expansion.
Sales are up about 50 percent over last year, and Kendal Machinery has upgraded equipment with two Computer Numeric Controlled (CNC) milling machines that are central to their production. Under a new incentive for small business investment supported by Rep. Wilson, the machines, which are priced from $50,000 to $80,000, were a tax deductible expense.
“Government cannot create wealth, but it can create the conditions for small businesses like Kendal Machinery to invest and create jobs,” Wilson said. “Small businesses each start out as someone’s dream, and create nearly eight of every 10 new jobs in America.”
“Government policies matter to small businesses, and I appreciate Congresswoman Wilson’s commitment to growth,” said Kendal Billou, president and founder of Kendal Precision Machinery. “Increasing the amount of expenses we can deduct helped us invest in new equipment.”
Wilson regularly tours area businesses, meets with employees and works to keep in touch with the outlook of small businesses in New Mexico. She continues to "job shadow" throughout the community. The unemployment rate eased from 5.6 percent in June to 5.5 percent last month, down from a peak of 6.3 percent. The economy has created jobs for 11 straight months. As of June, New Mexico had created about 17,000 new jobs over the past year.
"The most important reality of economic growth -- the one that matters most to people -- is jobs. We need an economy that produces steadily expanding job opportunities so that everyone who wants to work can work, and every working person can get ahead and improve the quality of life for their family,” Wilson said. "To continue seeing people hired, we must keep taxes low and regulations fair for small businesses.”
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