In a move aimed at bolstering the American manufacturing sector, the U.S. Department of Labor and the U.S. Small Business Administration struck a new partnership today. According to a release from the Department of Labor, the agencies have entered into a Memorandum of Understanding which promises to enhance collaboration and data-sharing, especially regarding programs that promote a skilled workforce.
With an eye on rejuvenating American industry and job growth, this agreement was met with enthusiasm from government officials. Secretary of Labor Lori Chavez-DeRemer said, “Under President Trump's leadership, this Administration is working tirelessly to restore America as the world's manufacturing superpower – securing trillions in investments and bringing hundreds of thousands of jobs back home. I am thrilled to partner with Administrator Loeffler to usher in a new Golden Age of American manufacturing.” SBA Administrator Kelly Loeffler focused on the importance of small businesses, which represent 98 percent of domestic manufacturers, stating they are "spring-loaded for growth with the America First agenda," as noted by the Department of Labor.
The collaboration between the two government bodies aims to expand opportunities and resources for small and large manufacturers alike. This includes prioritizing programs such as the Department's Registered Apprenticeship Program and the Veteran Employment Training Service. Moreover, cross-agency training will be offered on impactful loan programs, like the 7a and the 504 loan programs, designed to supply capital to manufacturers.
Chavez-DeRemer outlined, “Through this agreement, the Department of Labor will collaborate with the Small Business Administration to help ensure America's workforce is ready to seize these opportunities by expanding Registered Apprenticeships and other hands-on training programs that will benefit both small and large manufacturers.” Meanwhile, Loeffler highlighted the Administration's track record, noting, “The vast majority of U.S. manufacturers are small businesses, and I’ve heard firsthand walking factory floors with business leaders that they are spring-loaded for growth with the America First agenda. I’m excited to work alongside Secretary Chavez-DeRemer to cultivate a pipeline of skilled workers and capital to support their growth in a powerful new era of Made in America,” according to the same news release.
