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Small Business/Economic Development
"There is no doubt that El Paso is one of the top places for business. We have a talented and hard working labor force and the entrepreneurial spirit that makes America great." - Congressman Silvestre Reyes
With a centuries old tradition of travel, trade, and commerce along the historic Camino Real, El Paso is one of the most unique and promising places to do business in the country. The diverse labor force, binational ties with Mexico, and world class work ethic drive the economic development and growth. This is evidenced by Expansion Management Magazines naming El Paso as the twenty first Hottest city in the nation for its image as a prime location for manufacturing and relocation, based on its business environment, workforce quality, worker training programs, and other positive factors. The magazine confirmed what most of people already know - El Paso is a great place to do business!
So how do we continue to build up El Pasos economic vitality? In a word, PARTNERSHIPS.
With assets like multiple international ports of entry, Ft. Bliss, the University of Texas at El Paso, El Paso Community College, the Chambers of Commerce, City, County and State economic development leaders, border business alliances, non-profits, Empowerment Zone, the SBA, and small and large business interests, it is critical that El Paso forge the partnerships that will carry it forward in a changing global economy.
The value of these partnerships cannot be understated. When Congressman Reyes worked to successfully secure the designation of El Paso as an Empowerment Zone, the collaboration between local organizations made the difference in Washington, and El Paso became one of only fifteen zones designated during the last round. When Reyes saw a need to increase the number of businesses that in the past had not done business with the federal government, Reyes joined with the El Paso Hispanic Chamber of Commerce to aggressively reach out to historically underutilized businesses, and the El Paso Hispanic Chamber of Commerce successfully certified more businesses per capita as HUB (Historically underutilized businesses) than any city in Texas. More recently, Reyes joined El Pasos Foreign Trade Zone, the El Paso International Airport, federal agencies, the Chambers, and businesses to examine how to better facilitate critical trade across the International border. In short, by working together the community can continue to put the building blocks in place to help El Paso's business climate thrive.
These partnerships will help the creation and development of quality jobs and new investment growth across all economic sectors. Community leaders should work to create a balance and diversity of industry bases, create and foster a culture of entrepreneurial spirit in both the public and private sector, target high value added industries, support and encourage higher education research initiatives and link growth strategies to these initiatives, and foster the creation of new industry clusters based on existing university programs like health care services, biotech, clinical research, and defense.
El Paso's economic future rests in the efforts business, labor, and political leaders. Together, it will be a prosperous, sustainable community generating the best possible quality of life for our citizens.
Achievements
Congressman Reyes secured a new El Paso-based Procurement Center Representative (PCR) to help area small businesses compete for the billions of dollars in federal contracts. Previously, small business owners had to rely on the PCR based in Albuquerque for help.
Congresssman Reyes voted for the American Reinvestment Recovery Act which which included tax relief for a majority of small business owners in El Paso. The Act targets $15 billion in tax relief to America’s small businesses by increasing section 179 expensing limits, extending the carry back period for New Operating Losses from 2 to 5 years, delaying the onerous 3 percent witholding tax on payments to government contractors, providing relief from the Alternative Minimum Tax, and establishing tax credits for small business hiring.
Reyes has been a strong advocate of small businesses in Congress. He was instrumental in securing a Procurement Center Representative (PCR) position from the United States Small Business Administration for the El Paso region, a critical resource which provides guidance and support to businesses wishing to pursue contracting opportunities in the district. In 2007, he introduced the 8(a) Modernization Act to increase 8(a) net worth limits and expand the size of government contracts available to 8(a) businesses, including 90 8(a) firms located in El Paso. His bill was included in the Small Business Contracting Program Improvements Act and passed by the House of Representatives.
After El Paso small businesses had been frozen out of federal contracting opportunities by big, out-of-town contractors, Congressman Reyes successfully offered an amendment to the Small Business Fairness in Contracting Act which was passed by the House. The Act written to hold big contractors that do not keep their commitments to small business accountable.
Congressman Reyes has also worked with local chambers of commerce, Fort Bliss, the Army Corps of Engineers, and other groups to ensure El Paso small businesses are able to take advantage of federal small business programs and are prepared to capitalize on opportunities associated with the Fort Bliss expansion. There are several El Paso companies that have benefited from economic opportunities with the Fort Bliss expansion. While a majority of them have been sub-contractors some companies have also been prime contractors. A total of $94,169,161 has been awarded to El Paso companies in prime contracts with a total $256,751,839 in sub contracts as well as $60,020,504 in small business subcontracts.
In addittion, Congressman Reyes has worked over the years to increase funding for and oppose cuts to the Small Business Administration’s 7(j) small business lending program. He has also hosted an annual Veteran's Business Conference at EPCC to highlight new and current business opportunities for El Paso veterans.
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