Rep. Hintz: To introduce Small Business Jobs Investment Act

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Legislation offers job creation incentives for small businesses

MADISON – Representative Gordon Hintz (D-Oshkosh) announced plans to introduce the Small Business Jobs Investment Act, legislation that provides valuable job creation incentives to small business of 10 employees or less. The bill mirrors legislation that was approved with bi-partisan support in the United States Senate today. This legislation will soon be formally introduced.

“Small businesses are the cornerstone to a healthy economy”, said Rep.Hintz. “While we have been able to take successful actions to assist some larger employers, it is crucial that we assist small business during these tough times. My bill incentivizes job creation that benefits business and the workforce. It is one more tool in the arsenal to help put people back to work.”

The Small Business Jobs Investment Act offers a job creation incentive for small businesses of 10 employees or less. Businesses that expand their payroll immediately and create new, full-time, non-seasonal jobs, will receive incentives for those efforts. The more jobs a business creates, the larger the incentive they will receive. That credit can then be used to strengthen and expand their businesses and create more new jobs.

To qualify for the credit, businesses must hire employees who have been out of work for two months or more. Limiting the hiring pool to people who have been out of work the longest will ease the current load services for displaced workers and help families who are hurting the most.

Wisconsin has nearly half a million small businesses that employ more than half of all workers in the state. Small businesses are a major engine of the state’s economy and play a crucial role in helping Wisconsin recover from the nation’s economic downturn. In the 4th quarter of this year, small business national GDP grew by 5.7%, an encouraging sign during tough economic times.

The Small Business Jobs Investment Act goes hand in hand with Assembly Democrats’ previous efforts to help strengthen Wisconsin’s economy today and in the long-term. Already, Assembly Democrats have approved more than $200 million in incentives that have helped Wisconsin companies like Mercury Marine, Republic Airways, Frito Lay and recently, Logistics Health create and retain jobs.

“Assembly Democrats will continue to build on our efforts to stand up for middle class families and help Wisconsin’s economy recover,” said Rep. Hintz. “We must continue to act as quickly as possible to provide immediate relief to workers and job creators.”