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Jacky Rosen: “Access to capital is a primary obstacle for many rural…”

Featuring: Jacky Rosen, Democratic | U.S. Senate, Nevada

Jacky Rosen Leads Senate Commerce Committee Hearing On Enabling Rural Businesses To Grow

Published July 30, 2024 | Video Starts at 03:31

Well, there are clear benefits and growing opportunities for businesses to begin exporting rural businesses well, they often face unique challenges when looking to start or expand their export operations. Access to capital is a primary obstacle for many rural businesses. as there are often far fewer banking institutions and financial resources available to them in rural areas compared to larger cities. (03:31–03:35)

CLAIM

Asserts that financial resources are a significant barrier for rural businesses in exporting.

This is an excerpt from a raw transcript. The assertions have not been audited or verified. Tap the video to view the source footage and understand the context.

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Jacky Rosen

“Exports of goods and services made up over 10% of the US GDP and supported about 9 million American jobs in 2021.”
Jacky Rosen Leads Senate Commerce Committee Hearing On Enabling Rural Businesses To Grow | Uploaded July 30, 2024 | 00:36-00:46
“Nevada exported $10 billion worth of goods in 2022, supporting over 400,000 jobs.”
Jacky Rosen Leads Senate Commerce Committee Hearing On Enabling Rural Businesses To Grow | Uploaded July 30, 2024 | 01:05-01:15
“It [the West Rural Export Center] has empowered rural businesses in Nevada to leverage those federal resources.”
Jacky Rosen Leads Senate Commerce Committee Hearing On Enabling Rural Businesses To Grow | Uploaded July 30, 2024 | 01:19-30:53
“Small businesses represent over 97% of all exporters nationwide, produce nearly a third of our export value, and employ almost half of the…”
Jacky Rosen Leads Senate Commerce Committee Hearing On Enabling Rural Businesses To Grow | Uploaded July 30, 2024 | 01:52-02:12
“Only 1% of American companies export, despite over 95% of the world's customers living outside our nation's borders.”
Jacky Rosen Leads Senate Commerce Committee Hearing On Enabling Rural Businesses To Grow | Uploaded July 30, 2024 | 02:27-02:36
“The number of small and mid-sized exporters has risen threefold over the last 20 years.”
Jacky Rosen Leads Senate Commerce Committee Hearing On Enabling Rural Businesses To Grow | Uploaded July 30, 2024 | 02:35-02:44
“Rural businesses often face unique challenges when looking to start or expand their export operations.”
Jacky Rosen Leads Senate Commerce Committee Hearing On Enabling Rural Businesses To Grow | Uploaded July 30, 2024 | 03:18-03:31
“Rural businesses often lack access to the tools and resources that could help them navigate foreign markets.”
Jacky Rosen Leads Senate Commerce Committee Hearing On Enabling Rural Businesses To Grow | Uploaded July 30, 2024 | 03:58-04:14
“Agencies across the federal government have invested in resources for rural export businesses.”
Jacky Rosen Leads Senate Commerce Committee Hearing On Enabling Rural Businesses To Grow | Uploaded July 30, 2024 | 04:22-04:28
“Nevada is home to the West Rural Export Center, which is empowering businesses in Nevada's rural communities to innovate and grow through…”
Jacky Rosen Leads Senate Commerce Committee Hearing On Enabling Rural Businesses To Grow | Uploaded July 30, 2024 | 04:56-05:07
“Mister Westcott is the executive director of the Small Business Exporters association, which is the international trade arm of the National…”
Jacky Rosen Leads Senate Commerce Committee Hearing On Enabling Rural Businesses To Grow | Uploaded July 30, 2024 | 08:03-08:21
“Mister Davidson is a senior trade officer for the Nevada Department of Agriculture, where he leads the department's domestic and…”
Jacky Rosen Leads Senate Commerce Committee Hearing On Enabling Rural Businesses To Grow | Uploaded July 30, 2024 | 13:49-14:01
“On average, companies that export earn higher revenues, which can be used to reinvest in their employees, create new jobs, pay higher wages.”
Jacky Rosen Leads Senate Commerce Committee Hearing On Enabling Rural Businesses To Grow | Uploaded July 30, 2024 | 25:33-25:42
“It's critical that businesses in our rural areas are able to benefit from robust export operation.”
Jacky Rosen Leads Senate Commerce Committee Hearing On Enabling Rural Businesses To Grow | Uploaded July 30, 2024 | 25:49-25:57
“Unfortunately, only 1% of American businesses export.”
Jacky Rosen Leads Senate Commerce Committee Hearing On Enabling Rural Businesses To Grow | Uploaded July 30, 2024 | 25:56-26:02
“Rural businesses have historically faced barriers accessing the counseling and guidance to reach international markets.”
Jacky Rosen Leads Senate Commerce Committee Hearing On Enabling Rural Businesses To Grow | Uploaded July 30, 2024 | 30:29-30:40
“Rural export centers successfully do bridge this gap by meeting rural businesses where they are.”
Jacky Rosen Leads Senate Commerce Committee Hearing On Enabling Rural Businesses To Grow | Uploaded July 30, 2024 | 30:39-30:45
“We’re proud to have the West Rural Export center in Nevada.”
Jacky Rosen Leads Senate Commerce Committee Hearing On Enabling Rural Businesses To Grow | Uploaded July 30, 2024 | 30:44-30:48
“Senator Hickenlooper is here, and as soon as he's ready to go, we'll recognize Senator Hickenlooper.”
Jacky Rosen Leads Senate Commerce Committee Hearing On Enabling Rural Businesses To Grow | Uploaded July 30, 2024 | 42:45-42:51
“My middle mile broadband deployment bill became the base bill for the infrastructure bill that is getting rural broadband out there.”
Jacky Rosen Leads Senate Commerce Committee Hearing On Enabling Rural Businesses To Grow | Uploaded July 30, 2024 | 57:06-57:17
“Nevada has become a hub for electric, vehicle and battery manufacturing.”
Jacky Rosen Leads Senate Commerce Committee Hearing On Enabling Rural Businesses To Grow | Uploaded July 30, 2024 | 58:37-58:42
“We have more solar jobs per capita than any other state in the nation.”
Jacky Rosen Leads Senate Commerce Committee Hearing On Enabling Rural Businesses To Grow | Uploaded July 30, 2024 | 1:00:02-1:00:06
“We need workforce and we need capital, right? They have to exist together.”
Jacky Rosen Leads Senate Commerce Committee Hearing On Enabling Rural Businesses To Grow | Uploaded July 30, 2024 | 1:15:13-1:15:18
“Small businesses, we know they often cite a lack of access to capital and obstacles.”
Jacky Rosen Leads Senate Commerce Committee Hearing On Enabling Rural Businesses To Grow | Uploaded July 30, 2024 | 1:16:02-1:16:09
“Exporting activity can actually just be more costly than domestic business due to its complicated, excuse me, regulatory hurdles and…”
Jacky Rosen Leads Senate Commerce Committee Hearing On Enabling Rural Businesses To Grow | Uploaded July 30, 2024 | 1:16:13-1:16:24
“Rural export businesses face significant barriers accessing capital, with many relying on a dwindling number of small banks, local banks…”
Jacky Rosen Leads Senate Commerce Committee Hearing On Enabling Rural Businesses To Grow | Uploaded July 30, 2024 | 1:16:28-1:16:38
“Senator Ernst and I have a great bipartisan bill called the Small Business Child Care Investment Act.”
Jacky Rosen Leads Senate Commerce Committee Hearing On Enabling Rural Businesses To Grow | Uploaded July 30, 2024 | 1:22:51-1:23:19
“The Small Business Child Care Investment Act allows the SBA, if you're a nonprofit, access to SBA resources to put up childcare.”
Jacky Rosen Leads Senate Commerce Committee Hearing On Enabling Rural Businesses To Grow | Uploaded July 30, 2024 | 1:22:51-1:23:19
“There are childcare deserts all across this country, urban and rural, affordability, availability.”
Jacky Rosen Leads Senate Commerce Committee Hearing On Enabling Rural Businesses To Grow | Uploaded July 30, 2024 | 1:22:51-1:23:19
“The hearing record will remain open for two weeks until Tuesday, August 12, 2024.”
Jacky Rosen Leads Senate Commerce Committee Hearing On Enabling Rural Businesses To Grow | Uploaded July 30, 2024 | 1:24:22-1:24:28
“Any senators who would like to submit questions for the record should do so by Tuesday, August twelveth, 2024.”
Jacky Rosen Leads Senate Commerce Committee Hearing On Enabling Rural Businesses To Grow | Uploaded July 30, 2024 | 1:24:28-1:24:34
“For those of you who testified today, we ask if you get those questions for the record, that your responses be returned to the committee as…”
Jacky Rosen Leads Senate Commerce Committee Hearing On Enabling Rural Businesses To Grow | Uploaded July 30, 2024 | 1:24:34-1:24:47