By Jamie Martin
The Small Business Administration (SBA) and the Department of Labor (DOL) have signed a major agreement to help rebuild U.S. manufacturing by supporting small businesses and creating skilled job opportunities. This effort is part of a broader plan to restore American industry and reduce reliance on foreign producers.
The Memorandum of Understanding (MOU) connects DOL’s workforce programs with SBA’s funding tools, creating a coordinated effort to assist small manufacturers. The goal is to increase training and job placement, while also providing easier access to capital and government contracts.
The collaboration includes programs like the Registered Apprenticeship Program and Veteran Employment Training Service, which prepare workers for jobs in manufacturing. SBA will also offer training on the 7a and 504 loan programs, making it easier for small manufacturers to grow their businesses.
This agreement supports the Made in America Manufacturing Initiative, launched by SBA Administrator Loeffler. The initiative is focused on reducing regulatory burdens, supporting training programs, and helping businesses access the funding they need to succeed.
A key tool in this plan is the Onshoring Portal, which helps connect businesses with over 1 million domestic suppliers. This allows small manufacturers to bring production back home and reduce dependence on foreign countries like China.
With 98% of U.S. manufacturers classified as small businesses, this agreement helps ensure they are equipped to grow, compete, and hire more American workers. The SBA and DOL are working together to deliver real results for U.S. industry.
Photo Credit: gettyimages-stockseller_ukr
Categories: National