SENATE BILL REPORT

SB 6274

BYSenators Fleming, Lee, Smitherman, Warnke and Anderson

Providing for the set aside of funds for small business incubator projects.

Senate Committee on Economic Development & Labor

Senate Hearing Date(s):January 14, 1988; January 29, 1988

Majority Report:  That Substitute Senate Bill No. 6274 be substituted therefor, and the substitute bill do pass.

      Signed by Senators Lee, Chairman; Conner, Deccio, McMullen, Saling, Smitherman, Warnke.

Senate Staff:Jack Brummel (786-7428)

                  January 29, 1988

AS REPORTED BY COMMITTEE ON ECONOMIC DEVELOPMENT & LABOR, JANUARY 29, 1988

BACKGROUND:

Small businesses have proved to be the major source of new jobs in Washington.  Because small businesses have high failure rates, assistance which lowers their failure rate can improve the state's job creation record.  Small business incubators have been promoted as an effective means of providing the technical assistance that small businesses need.

SUMMARY:

The Department of Community Development's local development matching fund program is supplemented with monies set aside for small business incubator projects.  The funds for such projects may be used for feasibility studies, planning, program development and delivery of technical assistance to small businesses, both within and outside the incubator.

EFFECT OF PROPOSED SUBSTITUTE:

If the amount required to be set aside is not appropriated, such amount shall be reduced or eliminated.

Appropriation:    none

Revenue:    yes

Fiscal Note:      available

Senate Committee - Testified: Greg Dohrn, DCD