New federal legislation would help manufacturers
Staff -- Industrial Distribution, 5/1/2007
Sen. Sherrod Brown (D-Ohio) is sponsoring legislation that would add $66.7 million and a new low-interest loan for manufacturers to the federal Manufacturing Extension Partnership program, the Dayton Business Journal reported.
Brown credits the program with creating 7,000 manufacturing jobs in his home state over the past five years, saying 119 companies in the Dayton area received funding from the program.
His Growth Opportunity Bill would create a new loan fund for small manufacturers looking to develop new products.
“It's no secret that manufacturing has been struggling in Ohio and throughout the country,” Brown said. “The MEP program has been a lifeline to our manufacturing sector. It only makes sense to expand the program's reach.”
The Bush administration's proposed budget for 2008 would cut $58.3 million from the program, to $46.3 million from $104.6 million last year. Brown and other senators are pushing for an increase to bring the funding to $113 million.














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