FOR IMMEDIATE RELEASE

Media Contact
Janel Knight Trulear
janel@emccommunications.com
(617) 875-6581

STATEMENT: North Carolina small businesses benefiting from economic investment

Statement by Small Business for America’s Future North Carolina Director Jim Duffett on President Biden’s remarks in Durham, NC about the positive impact of his economic plan

Raleigh, NC, March 28, 2023—North Carolina small business owners appreciate President Biden's remarks in Durham today, highlighting the economic progress in the Tar Heel State due recent economic plans like the American Rescue Plan, Bipartisan Infrastructure Law, CHIPS and Science Act, and Inflation Reduction Act. 

The president's engagement with local business leaders and community representatives to discuss the impact of Wolfspeed's investment in semiconductor production—made possible by the passage of the CHIPs Act—on domestic manufacturing, supply chain enhancement, and regional growth. Many small businesses are involved in the semiconductor supply chain, and this expansion will boost our economy, foster equity and inclusion, and strengthen the entrepreneurial environment.

Small business owners have encountered considerable challenges during the pandemic, such as labor market limitations and increased costs for goods and services. Wolfspeed's $5 billion investment and the creation of 1,800 new jobs exemplify the forward-thinking strategies that small business owners require from our leaders in this tough economic landscape.

A thriving small business sector contributes significantly to the nation's prosperity. Small businesses account for almost half of the country's economic activity, generate two-thirds of new jobs, employ about half of all Americans, and drive economic growth and job creation.

Effective leadership can positively impact our nation's economic health. As small business leaders, we are enthusiastic about the potential opportunities this investment presents and are dedicated to collaborating in order to strengthen our state's economy and contribute to our nation's prosperity.

Here’s what North Carolina small business owners are saying about the president’s visit:

“President Biden's visit to Durham underscores the positive impact our leaders can have when they work together to pass good legislation he supported. The $5 billion investment in manufacturing and the jobs it will bring are an encouraging sign for our state economy, and I'm optimistic about the potential opportunities this will bring to small businesses like ours.”
Karim Razzak

Karma Contracting

High Point NC

“As a North Carolina small business owner, I recognize the significance of President Biden's visit to Durham and the economic implications of investing in semiconductor production. This expansion, spurred by legislation championed by the president, marks a promising future for our local economy and highlights the potential benefits for businesses like mine.”

 CJ Scarlet 

President, CJ Scarlet LLC

Clayton, NC

“It is great to see the current administration’s investment in semiconductor production which will help small businesses that support the supply chain. It's the kind of action that will help boost our economy and promote innovation that will help Main Street thrive.” 

John J Martin, MBA, CSA, CPM, ICF, CPC

CEO and Chief Strategy Officer

Martin Sloane International LLC

Concord NC 

“I appreciate President Biden's visit to North Carolina, which emphasizes the importance of policies that bolster local businesses and communities. Wolfspeed's investment in semiconductor production, made possible through legislative efforts championed by the president, will undoubtedly strengthen our economy, and I look forward to the ripple effect this will have on small businesses across the state.”
Alicia Parr

Performentor LLC

Durham, NC

To request an interview with Jim Duffett,  Small Business for America’s Future North Carolina Director, contact Janel Knight Trulear at (617) 875-6581 or janel@emccommunications.com.

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About Small Business for America’s Future

Small Business for America’s Future is a national coalition of small business owners and leaders working to provide small businesses a voice at every level of government. We’re committed to ensuring policymakers prioritize the nation’s 30 million small businesses to create an economy that works for them, their workers and their communities. Visit www.smallbusinessforamericasfuture.org. Follow us on Twitter and Facebook. #SmallBizAF.