The Small Business Administration (SBA) and the U.S. Department of Labor signed a memorandum of understanding on Wednesday to enhance collaboration and data-sharing across key programs that support domestic manufacturing in the United States.
Lori Chavez-DeRemer, secretary of the Labor Department, is excited for the partnership that will “usher in a new Golden Age of American manufacturing.”
The Trump administration “is working tirelessly to restore America as the world’s manufacturing superpower—securing trillions in investments and bringing hundreds of thousands of jobs back home,” Chavez-DeRemer said.
The collaborative agreement will “help ensure America’s workforce is ready to seize these opportunities by expanding Registered Apprenticeships and other hands-on training programs that will benefit both small and large manufacturers,” she said.
Under the agreement, SBA’s capital and contracting tools will be connected with the Labor Department’s workforce development infrastructure. The agencies will expand data-sharing and coordination on programs such as the department’s Registered Apprenticeship Program and the Veteran Employment Training Service. SBA will likewise offer cross-agency training on loan programs to support manufacturing, including the 7a and 504 loan programs.
This collaboration will streamline interagency cooperation and awareness, while maximizing resource delivery to domestic manufacturers and workers, a release from the SBA stated.
“This Administration is already bringing back jobs, economic independence, and national security,” SBA Administrator Kelly Loeffler said. “The vast majority of U.S. manufacturers are small businesses, and I’ve heard firsthand walking factory floors with business leaders that they are spring-loaded for growth with the America First agenda.”
“I’m excited to work alongside Secretary Chavez-DeRemer to cultivate a pipeline of skilled workers and capital to support their growth in a powerful new era of Made in America,” she added.