Jul 10 2007

Shelby Announces Financial Services Funding for North Alabama

U.S. Senator Richard Shelby (R-AL), a member of the Financial Services Appropriations Subcommittee, announced subcommittee approval of the fiscal year 2008 Financial Services Appropriations bill.  The legislation includes funding for projects in North Alabama. Following today’s action by the subcommittee, the bill will now go to the full Appropriations committee for consideration.   

Alabama A&M University Research Institute Small Business Development and Training - $225,000

The Alabama A&M University Research Institute (AAMURI) Small Business Development and Training Initiative provides training to North Alabama small businesses in proposal writing, compliance, materials management and accounting, and information technology.      

“Building small businesses develops companies that can serve the needs of our nation in various areas, including national security and information,” said Shelby.  “North Alabama’s defense and technology sectors are already some of the strongest in the nation.  This project will create more jobs and prepare workers for these important industries."

Shoals Entrepreneurial Center Network Renovation - $225,000

The Shoals Entrepreneurial Center has helped to start more than 108 businesses that have created 1,300 jobs.

“The Shoals Entrepreneurial Center is the lead entity in new business start-ups and job creation for the Shoals area,” said Shelby. “The improvements and added capacity created through funding assistance will allow the Center to continue its proven track record of job creation and provide opportunities for economic expansion in an area of the state where the economy continues to struggle."

Alabama Small Business Institute of Commerce (ASBIC) - $250,000

The ASBIC is a non-profit corporation that partners with Alabama colleges, universities, and other organizations to encourage economic development, increase employment, and reduce business failure in Alabama through education and workforce training. 

“The ASBIC supports and funds Alabama colleges, universities, and other organizations that provide workforce training,” said Shelby.  “In turn, the entities supported by ASBIC then assist Alabamians with small business development and additional training programs."