Times Union

Senator, others promote federal loan program to boost manufacturing, jobs

EAST GREENBUSH — U.S. Sen. Kirsten  Gillibrand went to a Rensselaer County maker of materials analysis equipment  Monday to tout an idea for a new federal low-interest loan program to promote  more manufacturing in the U.S.

During a news conference at XOS, Gillibrand said she was introducing what she  calls the Made in America Manufacturing Act, which would encourage states and  regional public-private partnerships to compete for up to $20 million in funds  for each state or regional manufacturing hub.

It was the second time in less than a month that Gillibrand announced her  bill; on Feb. 1, she was joined by officials in the lower Hudson Valley at a  news conference in Yonkers on the bill.

This time, the senator was joined by U.S. Rep. Paul  D. Tonko, an Amsterdam Democrat, as she said funding such a program through  the Commerce and Labor departments would “spark more growth in manufacturing  sectors, jump-start new businesses, and create good-paying jobs.”

The act would provide federal funding to:

Set up a revolving loan fund for manufacturers to start or expand operations.  Funds could only be used to promote domestic manufacturing, not  overseas operations.

Create job training programs with community colleges, vocational education  programs and job training providers. No more than half of any loan could be  spent on job training.

Provide capital and technical assistance to boost exporting opportunities  for manufacturers.

In order to get federal support, so-called “partnership boards” would have to  be formed and include county and local governments, small and large  manufacturers, labor organizations, higher education institutions, workforce  training centers and local chambers of commerce.
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