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Although manufacturing has a key role in the U.S. economy, growth in this sector has slowed in recent years. In 2010, Congress created a loan guarantee program aimed at bolstering technological innovation among small- and medium-sized U.S. manufacturers.
To help improve the United States' manufacturing competitiveness, the Departments of Commerce, Defense, and Energy provided $1.7 billion for Manufacturing USA—a network of 16 advanced manufacturing institutes.
States spend billions of dollars on incentives to attract and retain businesses. Some question their cost and effectiveness. Do federal funds play a part in these incentives?
In 6 large state business incentive packages we reviewed, federal economic development funds were not directly used.
To help small businesses affected by COVID-19, the Small Business Administration gave low-interest Economic Injury Disaster Loans and grants to millions of applicants. These funds totaled $224 billion as of February 2021.
To get more federal funds to areas with long-term poverty, some federal agencies have to follow the "10-20-30 formula"—use at least 10% of certain grant, loan, and other program funds in counties with poverty rates of at least 20% over the last 30 years.
Katrina, Sandy, Harvey, and Irma—4 of the costliest hurricanes in the U.S. since 2005—caused damage totaling trillions of dollars. Their effects on economic activity and employment in damaged areas varied widely.
The statutory federal minimum wage has not applied in American Samoa for many years. In 2007, Congress approved increasing the territory's minimum wages, but later delayed or reduced the increases. Minimum wages are now scheduled to rise to the current federal level by 2036.
For the English version of this page, see GAO-20-168.
Examinamos cómo la Agencia Federal para el Desarrollo de la Pequeña Empresa (SBA, por sus siglas en inglés) planeó y respondió a los huracanes Harvey, Irma, y María en 2017, entre otras cosas.