Republicans Block Capital Investments for Small Businesses
Contact Name: Marina Altschiller
Phone: (603) 568-9357
CONCORD – Today, Senate Republicans voted Inexpedient to Legislate on SB 451, Senator Jay Kahn’s (D-Keene) bill to establish the New Hampshire innovation program and the New Hampshire innovation fund in the department of business and economic affairs. The purpose of the program was to increase funding for research and development intensive start-up companies located in New Hampshire.
After the vote, prime sponsor Senator Jay Kahn (D-Keene) issued the following statement:
“New Hampshire’s lack of access to startup capital was one of the key reasons why our ranking dropped 12 spots on CNBC’s rankings of “Top States for Business.” We are actively losing out on federal money for research and development to stimulate our small business economy because we have no early-stage capital investment or matching fund for research intensive and innovative start-up businesses. I am disappointed that my Republican colleagues once again refused to support our small businesses.”