WASHINGTON, D.C. - More than 37,000 new jobs were added in Ohio in April, the most in any state. In response to this news, U.S. Sen. Sherrod Brown (D-OH) issued the following statement:
"Earlier this week, President Obama visited Ohio and saw some promising signs of economic recovery in our state. Today's jobs figures are good news for our state's economy and for Ohio workers. By enforcing trade rules and working with the private sector to create jobs, we have helped to expand our economy and bring people back to work.
"But we need to continue to unleash the potential of Ohio's small businesses and manufacturers by ensuring they have access to credit, and that our workforce is ready for the jobs of the 21st century. Today's jobs figures are good news for our economy, but a reminder that we must do more to bring Ohioans back to work and restore American manufacturing."
In March, Brown voted for The Hiring Incentives to Restore Employment Act (HIRE Act), bipartisan legislation signed by President Obama that would provide a payroll tax holiday to businesses for each worker they hire who has been unemployed for at least 60 days, allow small businesses to write-off expenses so they can expand operations and hire new workers, and create jobs through investments in highway and transportation infrastructure.
The HIRE Act is the first in a series of jobs bills in the Senate for which Brown is fighting. Brown is working to attach his landmark bill - The Investment for Manufacturing Progress and Clean Technology (IMPACT) Act - into future jobs legislation. The bill would establish a $30 billion Manufacturing Revolving Loan Fund to help small-and mid-sized manufacturers transition to the clean energy economy through retooling. The bill could potentially generate more than $100 billion in revenue for clean energy businesses and create 680,000 direct manufacturing jobs and nearly two million indirect jobs nationwide over five years. Policy Matters Ohio released a report showing that the IMPACT Act could create between 41,063 and 52,214 new jobs in Ohio over ten years.
Brown is the author of the Small Business Emergency Relief Act, which would temporarily raise maximum amounts and waive certain fees for loans administered by the Small Business Administration. This bill, aimed at unfreezing the credit market for small businesses, would increase the caps for SBA's most popular loan programs.
Earlier this month, Brown introduced The Security in Energy and Manufacturing (SEAM) Act, legislation which would expand the Advanced Energy Manufacturing Tax Credit (48C) program authorized in Section 1302 of the Recovery Act. It provides a 30 percent credit for domestic companies for investments in new, expanded, or reequipped clean energy manufacturing projects. The program is aimed at building capacity to meet this new and growing source of demand. Through "48C" in the Recovery Act, $2.3 billion in federal funds leveraged more than $5.4 billion of private investment that supports the creation of manufacturing jobs. The funds distributed through the first wave of funding are estimated to create 17,000 jobs, plus an additional 41,000 jobs through matching private investment. The initial tax credit supported seven Ohio projects, totaling nearly $125 million in tax credits.