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WASHINGTON, DC — James E. Mitchell, Jr., Charlotte City Councilmember and Past President of the National League of Cities, and Donald J. Borut, Executive Director, of the National League of Cities, are attending today's signing of the Jumpstart Our Business Startups (JOBS) Act.
NLC issued the following statement thanking President Obama, Majority Leader Eric Cantor and members of both political parties for their efforts to pass this Act:
While the economy is showing signs of improvement, it is still at a critical juncture. The JOBS Act creates a much needed source of capital for small businesses and entrepreneurs in communities across the country who have been stymied in their ability to participate in the economic recovery.
This is especially true for smaller, innovative companies that reside outside the traditional geographic regions for venture capital. The JOBS Act will allow more communities to take part in the recovery by encouraging local companies to gain access to capital in order to grow businesses and expand employment.
Small businesses are the heart of Main Street. In addition to employing local residents, they create a sense of place and support a city in developing its own talent and resources. This Act will help small and new entrepreneurs who want to take the chance to start their own business and create their own future. It is this spirit of innovation that will drive a full national recovery in all of our communities.
Local governments regularly work across party lines, and this Act is a great example of what can happen when partisan rancor is set aside in an effort to rebuild our hometown economies. We hope it serves as an example for future bipartisan policy making, such as with the Marketplace Fairness Act, to help economic recovery in cities and towns across the nation.
The National League of Cities is dedicated to helping city leaders build better communities. NLC is a resource and advocate for 19,000 cities, towns and villages, representing more than 218 million Americans.