Reps. Carter and Guest Introduce Legislation to Revitalize Small and Local Businesses
WASHINGTON, D.C. – Yesterday, Congressman Troy A. Carter, Sr. (D-LA) and Congressman Michael Guest (R-MS) introduced the bipartisan Revitalizing Small and Local Businesses Act (RSLBA) in the House of Representatives. This bill would create a new program to infuse resources into national networks of local business district entities that support place-based entrepreneurship activities.
Small businesses are crucial to our nation’s economic health – accounting for over 65% of all new jobs created over the past 20 years. A robust economic development framework requires investing in the success of entrepreneurs and the local business districts in which they operate. That’s why Congressman Carter is advocating for this legislation’s inclusion within the Economic Development Administration’s (EDA) upcoming reauthorization. A companion bill has been introduced in the Senate by Senators Padilla (D-CA) and Wicker (R-MS).
“Small businesses are the heartbeat of our economy and this bill is an innovative way to grow capacity in our business districts and create more equitable economic opportunities and outcomes in Louisiana and nationwide,” said Congressman Carter. “The passage of this legislation would increase needed resources for many organizations in my district that conduct critical, on-the-ground work to uplift small, local businesses. I will continue to advocate for the RSLBA’s inclusion in the upcoming EDA reauthorization so we can further amplify the great work that local organizations do for small businesses in communities across America.”
“Communities across our nation rely on small businesses and local entrepreneurs for their goods, services, and as a primary driver of economic prosperity,” said Congressman Guest. “Many business owners endured economic hardships during the pandemic, but they were often among the first to offer help and services to their neighbors. I’m proud to support this legislation that would provide grants to help spur local economic development in states like Mississippi. This program is a strong first step in helping business owners get back on their feet following the pandemic so they can continue to provide necessary services to their communities.”
RSLBA offers an opportunity to expand inclusive access to EDA resources by leveraging the expertise of national nonprofit partners with deep connections to small businesses to provide on-the-ground economic assistance to our nation’s downtowns.
This legislation has been endorsed by a wide variety of national, Louisiana and Mississippi-based organizations. Many have provided supporting statements, listed below:
Patrice Frey, President & CEO, Main Street America said,
“The Revitalizing Small and Local Business Act will create opportunities to build the capacity of existing non-profit networks of place-based organizations and expand opportunity for rural and underserved small business districts. By investing in Main Street, this legislation can simultaneously activate places and create opportunities for entrepreneurs. We are grateful for the support of Representatives Carter and Guest to uplift this important legislation.”
Ron Busby Sr., President and CEO, United States Black Chambers said,
“The U.S. Black Chambers, Inc. is pleased to endorse the Revitalizing Small and Local Businesses Act, which aims to expand opportunities for organizations in our communities to reach small, Black businesses in underserved business districts. The new grant program would enable nonprofits who serve Black business districts to direct funding to communities where it is needed most, spurring economic opportunity and growth for future generations. We look forward to continuing this work with Representative Troy Carter’s office to provide more ways for Black businesses to grow and invest in their communities.”
Connie E. Evans, President and CEO, Association for Enterprise Opportunity said,
“AEO applauds Representative Troy Carter and his staff for providing nonprofit organizations with members and partners across the country an innovative opportunity to make investments into low-and middle-income communities. Mission-driven organizations rooted in underserved areas understand the needs of their communities best and, through this program, they will gain an opportunity to further enhance their economy by targeting underserved neighborhoods across the country. AEO looks forward to the progress that will come of this grant program and is proud to have worked alongside Representative Carter's office in this endeavor.”
Kelisha Garrett, Executive Director, Louisiana Chamber of Commerce Foundation said,
“This bill will help to support the revitalization of our business community and provide the necessary funding for direct technical assistance and supportive services needed to stabilize and advance minority and rural business growth. Additionally, it will encourage utilization that will positively impact our local economy and workforce.”
Tim Moore, Community Development Partnership, Philadelphia, MS said,
“As Main Street is the ‘heart’ of Downtown America, our Small Businesses serve as our backbone. It is through this process that allows all of us a place to walk, shop, play and eat in. Thank you for your support of the heart of downtown.”
D. Lynn Spruill, Mayor, City of Starkville said,
“The Revitalizing Small and Local Businesses Act is a vital piece of legislation to assist local municipalities in our recovery from the negative effects of COVID. While things are turning around, that reversal of fortune would be greatly and positively impacted by the passage of this legislation. The creation and sustaining jobs in our local downtowns keeps our communities thriving and Main Street is where we live our best lives.”
Thomas Gregory, State Coordinator, Mississippi Main Street Association said,
“The Mississippi Main Street Association is thankful for Representative Guest’s partnership and support of this legislation. As Mississippi’s leading organization for preservation-based community and economic development, we are excited about the potential of this funding to strengthen our network of organizations committed to supporting entrepreneurs.”
John Arensmeyer, founder and CEO of Small Business Majority, said:
“Even before the COVID-19 pandemic, under-resourced entrepreneurs struggled to access critical resources and funding needed to ensure their businesses are successful. That's why we're thrilled to support Representative Carter's and Representative Guest's Revitalizing Small and Local Businesses Act. This commonsense legislation will bolster our small business community by expanding access to vital economic development resources and providing new funding opportunities for small businesses in communities that greatly need these investments. These types of solutions are vitally important for small businesses that need support on their road to recovery from the pandemic.”
Marla Bilonick, President and CEO of NALCAB, The National Association for Latino Community Asset Builders (NALCAB) said,
“Latino startups or underserved small businesses looking to expand and grow are most likely to succeed when they receive support and expert technical assistance from community-based organizations that meet them where they are, and understand their needs. By investing in these national nonprofits and better equipping small businesses for success - the Revitalizing Small and Local Businesses Act enables today’s startups to be tomorrow’s job creators and a critical component of a strong US economy. NALCAB applauds the introduction of this bill.”
Matt Josephs, Senior Vice President of Policy, Local Initiatives Support Corporation (LISC) said,
“LISC thanks Representatives Carter and Guest for introducing the Revitalizing Small and Local Businesses Act. The legislation fosters inclusive access to EDA resources by strengthening the capacity of community-based groups working to revitalize historically underinvested main streets and commercial corridors in rural and urban communities. Increasing EDA support for the capacity-building of place-based business development organizations accelerates the growth of existing and aspiring entrepreneurs while contributing to the vibrancy and resiliency of the communities in which they operate.”
Ted Stiger, Senior Director of Government Relations & Policy, Rural Community Assistance Partnership (RCAP) said,
“The Rural Community Assistance Partnership (RCAP) thanks Representatives Carter and Guest for sponsoring the bipartisan Revitalizing Small and Local Businesses Act. The legislation is a commonsense approach at fostering inclusive rural place-based economic development initiatives and support for our local small business owners by investing in technical assistance and on the ground capacity building through EDA. This new program would directly support entrepreneurs in our rural places and beyond.”
Willow Lung-Amam, Director, Small Business Anti-Displacement Network (SBAN) said,
“Small businesses, particularly those that are owned by immigrants and people of color are vital contributors to the health, vitality, and identity of neighborhoods. But they are also highly vulnerable to closure and displacement, particularly in light of COVID-19. This bill will help to provide them with the strategies, tools, resources, and assistance that they need to remain open. In doing so, it will help to ensure that disadvantaged business owners build greater wealth and long-term stability, and that residents get the goods and services they need and deserve.”
Norman E. Barnum, IV, Interim President and CEO of New Orleans Business Alliance (NOLABA) said,
“The New Orleans Business Alliance embraces legislation such as the Revitalizing Small and Local Business Act. NOLABA views this bill as an extension of our standing work where we have established place-based initiatives that support collaborative ideas from the community and business leaders of our strategically chosen neighborhoods in hopes that additional leaders from our parish, region, state, and country will recognize the potential synergy and economic growth that will be gained for all when we invest in helping our most vulnerable community members. Our team endorses the need for such support in Orleans Parish where our citizens – majority of which are BIPOC community members – have been left out of economic opportunities for decades, contributing to the severe wealth and health disparities affecting our people.”
Mayra Pineda, President and CEO of the Hispanic Chamber of Commerce of Louisiana said,
“The Hispanic Chamber of Commerce of Louisiana thanks Representative Carter for introducing this legislation to seek additional Economic Development Administration resources to foster the growth of minority and underserved minority businesses. This effort fully aligns with our organization's mission and meets the needs highlighted during the unprecedented pandemic.”
Audra Ladd, Director of Manufacturing Policy, Urban Manufacturing Alliance said,
“The Urban Manufacturing Alliance provides a national voice on equitable economic development strategies that support manufacturers. The inclusion of the Revitalizing Small and Local Businesses Act into the EDA reauthorization will support community-based organizations as they deploy resources to local makers and manufacturers, particularly those of color, to enable sustainable growth of their businesses and further reinvestment in communities in which they are located.”
Rashida Ferdinand, Founder and Executive Director, Sankofa Community Development Corporation said,
“Sankofa Community Development Corporation is excited about how the Revitalizing Small and Local Businesses Act will offer opportunities to strengthen economic development initiatives in under-resourced and marginalized communities. We initiated the Lower Ninth Ward Main Street project in alliance with a network of organization, community stakeholders, and local businesses. We look forward to seeing its positive impact on the growth of small businesses and revitalization of our historic commercial corridor.”
National supporters for the Revitalizing Small and Local Businesses Act also include: United States Hispanic Chambers of Commerce, National Association of Affordable Housing Lenders, National Alliance of Community Economic Development Associations, Council of Development Finance Agencies, Co.Starters, and Forward Cities.
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