Costa: Small Businesses growing in California

WASHINGTON – Congressman Jim Costa announced California received 520,000 new business applications in 2021 – 219,000 of which are for businesses that are likely to hire new employees, according to data from the U.S. Census Bureau. Since President Biden and Congressional Democrats took office, California has created a total of 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,"said Costa. "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."

Costa helped support local businesses by passing the American Rescue Plan and other pandemic relief packages, which delivered more than $400 billion in direct assistance to more than 6 million small businesses. Costa continues working in Congress to support new businesses, create good-paying jobs and lower costs by enacting the Bipartisan Infrastructure Law and passing the America COMPETES Act, which will strengthen our supply chains, make more products in America, and enhance our global competitiveness.

In 2021, Americans submitted 5.4 million applications for new businesses, the highest level in recorded history and 68% higher than the average number of filings during the five years before the pandemic.

The Joint Economic Committee's full report provides more information on new business growth in 2021.