Isabel Casillas Guzmán, administrator of the US Small Business Administration (SBA) said that President Biden has prioritized building a clean energy economy in the future, not only for job creation but also in terms of preventing climate change and reducing its impacts on our communities.
“One thing we know is that Latino communities are affected by climate change at the same rate that we see the effects of natural disasters and the lingering impact on Latino businesses and employment opportunities from natural disasters.”
He stated that clean energy has been a priority for President Biden’s administration through historic bipartisanship through policies that have passed through Congress.
“As we invest in clean energy, there is a lot of infrastructure to build resilience, and we are making buildings that are sustainable.”
He added that the bipartisan infrastructure bill included many projects to shore up our clean energy infrastructure with electric vehicle charging stations.
“These are small businesses that are getting contracts to build that infrastructure and create jobs locally. There are several electric companies that I have met with, owned by Latinos, that are entering charging stations. So, those are great job creation opportunities for Latino businesses and employees.”
He said he has learned of several Latino-owned electric companies that are moving into charging stations and facilities.
“On top of that, there are lower energy costs for small businesses and individuals through the Inflation Reduction Act. Tax credits are available for consumers to switch to low-cost solar energy or clean commercial vehicles; Rebates and tax credits are available to create clean energy efficiency improvements, such as windows and doors, insulation, and conversions.”
So, he said there are really strong opportunities for small businesses and their employees through laws like the CHIPS (Creating Helpful Incentives to Produce Semiconductor) Act, which focus on manufacturing in the U.S. supply chain, which They push toward Made in America investments and manufacturing innovation here in the United States to compete.
“Globally, it has generated more than $650 billion in private sector investment to match the investments we are making and that is exciting in terms of strong, well-paying jobs.”
He said that “we have seen Latino and general unemployment fall to record levels during this administration below 4%. ‘That is a strong indicator of opportunities.’
He affirmed that laws such as the CHIPS Act, the Inflation Reduction Act and the Bipartisan Infrastructure Act contain significant investments in clean energy from incentives and rebates to accelerate the transition as well as in innovation such as weatherizing homes, schools or businesses and financing programs for clean energy. avant-garde, energy technologies and entrepreneurship.
“All of these have strong funding from the Inflation Reduction Act, in tax cuts, plus some available grants and tax credits.”
Regarding the Bipartisan Infrastructure Act, it rests on the modernization of the electrical grid and infrastructure investments such as electric charging stations; and then the CHIPS Act includes investments in energy innovation so that they can strengthen competitiveness. “Those are the clean energy solutions of tomorrow.”
Investments
The representative of the Small Business Administration said that under the Biden-Harris administration, they have supported more than 3,700 loans to Latino small businesses in California for a total value of $2.2 billion.
“That’s a 50% increase over the prior period, so we’re trying to ensure that capital is available for these companies to take advantage of these revenue growth opportunities in the clean energy economy. And that is the primary role of the SBA: to provide them with the capital and the financing, as well as the knowledge, to be able to take advantage of these opportunities.”
She added that they have seen that the rate of new business creation by women has doubled.
“For Latino companies, it is the highest in decades; and one in ten Latino households have a business; and that is why we have seen tremendous growth in new ventures that continue to add jobs to the economy.”
She mentioned that for those companies owned by women, financing has also increased by 70%.
But she definitely said that women have not been left behind in creating clean energy businesses.
“I have traveled all over the country and the electrical contractors I spoke to were both women and men. There are also small, women-owned clean energy businesses; and yes, there are women innovating in this space.”
He said converting to clean energy will help us combat the effects of climate change and create more healthy environments for our communities across the country.
“We will also see lower energy costs as a result of these investments and really better resilience for small businesses facing climate change and these climate change-driven climate disasters.”
He pointed out that there are also economic benefits from the jobs that are created; and tax incentives for small businesses that transition to clean energy.
“So the benefits are from a health and financial perspective.”
He added that the economic benefits will also have a lasting impact due to the jobs that are being created; and more the tax incentives that people will be able to take advantage of for the transition to clean energy.
Therefore, he said there are great opportunities for contractors and companies in door and window installations, in greater energy efficiency, as well as, of course, contracts that build our infrastructure such as electric charging stations and strengthening infrastructure in general.
“That is where we will see great opportunities in the coming years and these projects have already started throughout the country, so we are seeing that small businesses have added more employees to be able to fulfill these contracts and that means that there are more people with money in your pocket to go to restaurants and retail stores; and that is what will definitely continue to drive our economic recovery.”
Where can we find out about opportunities for clean energy policies?
“On our sba.gov page we are launching a specific tool that will connect with investments in the United States and list all the opportunities available for small businesses to access whether it be tax credits and rebates, and understand how you can work within your state to access to these resources, and ensure they have capital to dedicate to infrastructure spending or innovation businesses, as well as obtain grants and financing to continue the work to innovate for the future.”
Investments in clean energy projects
Nevada $12.2 billion
California $15.95 billion
Arizona $10.57 billion
Georgia $23.12 billion
Texas $16.05 billion
US $352 billion
Jobs generated since the approval of IRA
Snowfall 15,938
California 9,039
Arizona 14,100
Georgia 29,472
Texas 23,315
USA 271,713
Number of clean energy projects
Snowfall 15
California 36
Arizona 22
Georgia 40
Texas 38
US 523