Legislation recently introduced in the state House of Representatives would modernize and recapitalize the Small Business Incubators Act to create a grant program to help small, local businesses get established.
House Bill 2839 would provide up to $20 million in grants and loans for small businesses to cover startup and overhead costs. Any grant recipients who leave the state would be required to repay any funds awarded to them in full.
Rep. Aerion Abney (D-Allegheny) introduced the bill on Sept. 20.
“Everyone deserves to obtain their dream,” Abney said in an August memorandum to House members. “Helping entrepreneurs establish their businesses in the Commonwealth is a win for everyone. Successful local businesses help grow our economy and create good jobs everywhere – jobs that pay real wages and offer real benefits and a chance to retire – so all Pennsylvanians can have a better future.”
The needs of local businesses, which strengthen the economy and create jobs, were heightened by the effects of the COVID-19 pandemic, Abney said.
“Successful, local businesses help grow our economy and create good jobs everywhere,” Abney said after introducing the bill. “These jobs pay real wages and offer both real benefits and a chance to retire, so all Pennsylvanians can have a better future.”