U.S. Senator Kirsten Gillibrand Visits Rome to Announce Legislation
By: Rachel Polansky
Updated: August 17, 2012
Women-run small businesses are being classified as some of the fastest
growing in our economy. But, several small business tax breaks expired
at the beginning of this year. Off the Top tonight, U.S. Senator Kirsten
Gillibrand visited Rome today to talk about extending those tax breaks
for at least this year. Eyewitness News reporter Rachel Polansky has the
details on how this may help small businesses grow.
"We want to give more opportunity to those women owned businesses because they have different ideas, news ideas, ones that can really create job growth," says U.S. Senator Kirsten Gillibrand.
Senator Gillibrand says women-run small businesses are among the fastest growing in our economy.
"There's about 10 million business owned by women and they employ more than 13 million people and generate 2 trillion dollars worth of sales so its a very vibrant part of our economy," says Senator Gillibrand.
The Cathedral Corporation is a woman-run small business in Rome. The CEO says they previously benefited from the bill by getting money up front to make investments.
"We would buy equipment and we hired additional people. Even though this terrible recession occured the last 3 years, we have increased our hiring and have grown," says Marianne Gaige, Cathedral Corporation.
Gillibrand says women-run businesses start with eight times less capital than male owned businesses.
"So it's often harder to get that first loan," says Senator Gillibrand.
The cathedral corporation says if this legislation is renewed, it can mean tremendous growth and expansion for small businesses in the Mohawk Valley.
"What it does is just give me a little more money up front after I've made big expenditures for equipment and that's a big help these days," says Gaige.
Gillibrand's says her legislation called the success act will help small business owners curtail some expense hurdles - and Gaige agrees.
"It lowers our tax burden, and lets us have more money to hire people so very helpful," says Gaige.
She says within the last 24 months, the workforce at Cathedral Corporation has doubled.
"We want to give more opportunity to those women owned businesses because they have different ideas, news ideas, ones that can really create job growth," says U.S. Senator Kirsten Gillibrand.
Senator Gillibrand says women-run small businesses are among the fastest growing in our economy.
"There's about 10 million business owned by women and they employ more than 13 million people and generate 2 trillion dollars worth of sales so its a very vibrant part of our economy," says Senator Gillibrand.
The Cathedral Corporation is a woman-run small business in Rome. The CEO says they previously benefited from the bill by getting money up front to make investments.
"We would buy equipment and we hired additional people. Even though this terrible recession occured the last 3 years, we have increased our hiring and have grown," says Marianne Gaige, Cathedral Corporation.
Gillibrand says women-run businesses start with eight times less capital than male owned businesses.
"So it's often harder to get that first loan," says Senator Gillibrand.
The cathedral corporation says if this legislation is renewed, it can mean tremendous growth and expansion for small businesses in the Mohawk Valley.
"What it does is just give me a little more money up front after I've made big expenditures for equipment and that's a big help these days," says Gaige.
Gillibrand's says her legislation called the success act will help small business owners curtail some expense hurdles - and Gaige agrees.
"It lowers our tax burden, and lets us have more money to hire people so very helpful," says Gaige.
She says within the last 24 months, the workforce at Cathedral Corporation has doubled.
