U.S. Rep. Jim Costa (D-CA) said California received 520,000 new business applications last year, with 219,000 businesses possessing the potential to hire new employees.
Costa indicated the numbers stem from the Census Bureau and Joint Economic Committee (JEC) report, which maintains that since President Joe Biden and congressional Democrats took office, California has created 1,318,100 jobs.
“Small businesses are the backbone of our Valley’s economy, that is why I proudly secured relief and resources for local businesses through the American Rescue Plan,” Costa said. “Thanks to our recovery efforts and the hard work of small business owners, California businesses and jobs are recovering. These businesses will do even better as we repair our infrastructure and strengthen our supply chains through the Bipartisan Infrastructure Law.”
According to the JEC report, Americans submitted 5.4 million applications for new businesses in 2021; and each of the 50 states and Washington, D.C. had more new business applications last year than the annual average in the five years before the pandemic.
Costa aided local businesses through the passage of the American Rescue Plan and other pandemic relief packages that delivered over $400 billion in direct assistance to more than 6 million small businesses.