Jobs News

Entrepreneurs Applaud America Invents Act, Say It Will Create More Jobs

Watch Patent Reform with the America Invents Act, here. 

Last week, the President signed the America Invents Act, a much-needed reform that will speed up the patent process and enable entrepreneurs to turn an invention into a business three times faster than before. 

Jessica Mathews, the CEO of Unchartered Play, says that the America Invents Act and the American Jobs Act are exactly what small business owners like her need to thrive. Mathews says that patent reform “will allow inventors and entrepreneurs and businesses to have greater likelihood that their patent will issue, that that patent will issue sooner, and all the incentive to go out there and create jobs to get their products to market.”

Mathews invented the Soccket, a soccer ball that generates electricity as it's being kicked around. Her product is being used as a portable generator in developing countries short on energy supply.

Louis Foreman is the listed inventor of 10 registered U.S. patents, and his firm, Enventis, is responsible for the development and filing of well over 400 more. Foreman has created nine successful start-ups and has been directly responsible for the creation of more than 20 others. Foreman says that the America Invents Act “will help bring both speed and certainty to the patent system.  It will allow inventors and entrepreneurs and businesses to have greater likelihood that their patent will issue, that that patent will issue sooner, and all the incentive to go out there and create jobs to get their products to market.”

President Obama stands up for the American Jobs Act at the Ohio River's Brent Spence Bridge

Ed. Note: Cross-posted from Fast Lane, the blog of the Secretary of Transportation.

Two weeks ago, President Obama presented his American Jobs Act to a joint session of Congress and to the people of America.  Today, I was pleased to join him at the Brent Spence Bridge across the Ohio River, a functionally obsolete crossing on one of North America's busiest trucking routes. Replacing this bridge is exactly the kind of project that the American Jobs Act could support. 

And the Brent Spence Bridge from Cincinnati, Ohio to Covington, Kentucky is just one example.  As the President said, "The same is true in cities and towns all across America.  It’s not safe.  It lengthens the commute to work.  It costs our businesses billions when they can’t ship parts or products as quickly as possible."

President Barack Obama shakes hands with construction workers after delivering remarks on the American Jobs Act at the Brent Spence Bridge, that spans the Ohio River between Cincinnati, Ohio and Covington, Ky., Sept. 22, 2011. (Official White House Photo by Pete Souza)

We were joined beside the bridge by ironworkers, laborers, and carpenters from the area, some of whom have been out of work for months on end.  They would be happy to get back on the job rebuilding the Brent Spence or any of the tens of thousands of bridges in America that need repair, replacement, or modernization.  If only Congress would pass the American Jobs Act.

Infographic:Rebuilding America's Transportation System through the American Jobs Act

America is the country that built the transcontinental railroad and the interstate highway system; the Hoover Dam and Grand Central Station but today, we have roads, bridges, airports and railway lines all across the country that are in need of repair and updating. This afternoon, President Obama was in Cincinnati, Ohio where the Brent Spence Bridge, located on one of the busiest trucking routes in North America, is in such poor condition that it has been labeled functionally obsolete.

The American Jobs Act, a set of ideas supported by both Democrats and Republicans, includes $50 billion for immediate investment in America's infrastructure. This investment not only improves Americans' daily lives by making commutes shorter and safer, but it puts construction workers across the country to work in much needed middle class jobs. 

To better understand how the American Jobs Act will improve our nation's infrastructure and put Americans back to work, take a look at the infographic below.

Vice President Biden Announces Boosts for Small Business in Ohio

Watch Vice President Biden announce $20 billion in additional small business lending here.

Small businesses across the country got a boost yesterday when Vice President Biden announced that 13 of the nation’s largest banks, in partnership with the Small Business Administration, have committed to increase small business lending by a combined $20 billion over the next three years.

Speaking with SBA Administrator Karen Mills at Wrap Tite Inc. – a small packing and shipping material company in Solon, Ohio – the Vice President told the story of how a recent $1.5 million SBA-supported loan allowed Wrap Tite to purchase and renovate a new facility in Solon, as well as hire five new workers.  The new lending commitments announced today means more small businesses like Wrap Tite will have access to the capital they need to help grow the nation’s economy at the local level. As Vice President Biden said, "Small business men and women – who are the engine of economic growth in America – create two out of every three jobs in America."

But, as the Vice President said in Ohio, the lending boost for small businesses is only part of the story, and we cannot stop there. Urging Congress to pass the American Jobs Act right away, he described two key ways the bill would help small businesses grow and hire in Ohio and across the country – by cutting their taxes and putting money back in their customer’s pockets:

Weekly Address: Passing the American Jobs Act

President Obama discusses the need for Congress to pass the American Jobs Act to put more people back to work, and more money back in the pockets of people who are working. Read the jobs bill.

Transcript | Download mp4 | Download mp3

The American Jobs Act and Nonprofits

During these tough economic times, nonprofit organizations, both faith-based and secular, are the front-line responders to communities in need.  From convening support groups and prayer services to providing child care, teaching job skills, and putting Americans back to work, these nonprofit and faith-based groups are supporting working families and individuals across the country.  

President Obama recently announced a major new proposal called the American Jobs Act and sent legislation to Congress for action.  The American Jobs Act is all about getting Americans working and putting money back in the pockets of the American people, and nonprofit organizations are a key part of this bill. 

The President recognizes that roughly one in twelve workers in the United States are employed in the nonprofit sector, which is why he made nonprofits – both faith-based and secular – a key part of this bill.  The Act will help all Americans by creating jobs now, sparking economic growth, and providing relief to millions of families.  Under the Act, all business and organizations – including nonprofits – can receive a tax credit through partnering with state entities when they hire long-term unemployed individuals or veterans.  The Act also includes an innovative entrepreneurship and wage protection program that will allow unemployed workers to receive unemployment insurance while they start new businesses – including nonprofit enterprises.  And employers won’t have to be as hesitant to hire new employees, because the American Jobs Act would cut the payroll tax in half for the first $5 million in wages, and temporarily eliminate employer payroll taxes on wages for new workers or raises for existing workers.  This is great news for many small business and nonprofit organizations.

The America Invents Act: Turning Ideas into Jobs

Watch President Obama sign the America Invents Act here.

This morning, I had the great honor of watching President Obama sign the America Invents Act at Thomas Jefferson High School for Science & Technology in Alexandria, Virginia—a school named for the first official to issue U.S. patents.  This historic legislation will help American entrepreneurs and businesses get their inventions to the marketplace sooner so they can turn their ideas into new products and new jobs.  

The America Invents Act was passed with President Obama’s strong leadership after nearly a decade of effort to reform the Nation’s outdated patent laws.  It will help companies and inventors avoid costly delays and unnecessary litigation, and let them focus instead on innovation and job creation.  Many key industries in which the United States leads, such as biotechnology, medical devices, telecommunications, the Internet, and advanced manufacturing, depend on a strong and healthy intellectual property system.  

As President Obama explained in his 2011 State of the Union address:  “We know what it takes to compete for the jobs and industries of our time.  We need to out-innovate, out-educate, and out-build the rest of the world.”  

On stage with President Obama was a bipartisan group of legislators who came together to pass the most significant reform of the Patent Act since 1836:  Sen. Patrick Leahy (D-VT); Rep. Lamar Smith (R-TX); Rep. Bob Goodlatte (R-VA); Rep. Jim Moran (D-VA); and Rep. Mel Watt (D-NC). Today’s bill signing shows that strong bipartisan cooperation is possible. Congress can come together on behalf of the American economy and American innovation.  

The newly-signed law has a number of important transformations that will build on reforms already underway under the leadership of the US Patent and Trademark Office's dynamic Director David Kappos. The law will give the USPTO the resources to significantly reduce patent application waiting times, building on the great strides the patent office has already made, including reducing its backlog by 75,000 during this Administration even as the number of filings per year has increased.  

A few months ago, Austan Goolsbee (then Chairman of President Obama’s Council of Economic Advisers) created a video explaining why reducing the backlog will help get more ideas turned into companies and jobs. The USPTO will now be in a position to implement an innovative program to speed up the processing of the patents that are likely to create good jobs right away. Under the prioritized examination process, the USPTO will offer start-ups and growing companies an opportunity to have important patents reviewed in one-third the time with a new fast-track option that has a guaranteed 12-month turnaround.  

The program builds on the Green Technology Pilot program that accelerates patent applications involving reduced greenhouse gas emissions and energy conservation — at no cost to the inventor. More than 2,407 petitions have been granted to green technology patent applicants since the pilot began in December 2009, and USPTO has issued a total of 470 patents under the program.  

Excessive litigation has long plagued the patent system.  The America Invents Act will offer entrepreneurs new ways to avoid litigation regarding patent validity, without the expense of  going to court, and will also give the USPTO new tools and resources to improve patent quality. The new law also will harmonize the American patent process with the rest of the world to make it more efficient and predictable, and make it easier for entrepreneurs to simultaneously market products in the United States and for exporting abroad.  

President Barack Obama examines a robot created in the school’s prototyping and robotics senior research labs at Thomas Jefferson High School for Science and Technology in Alexandria, Va., Sept. 16, 2011. (Official White House Photo by Pete Souza)

At Thomas Jefferson High School, President Obama also announced some of the additional steps we’re taking to unleash the ingenuity of America’s entrepreneurs.  The National Institutes of Health will launch a new center that will help companies reduce the time and cost required to develop life-saving drugs, and is making it easier for startups to commercialize the biomedical inventions made by NIH and FDA researchers.  In addition, the Administration will develop a “bioeconomy blueprint” to create jobs and address key national challenges in health, energy, and agriculture.

We also know that government cannot do this alone. That’s why 140 university presidents have answered the Administration’s call to action to move research breakthroughs from the lab to the marketplace.  We’re also announcing a new prize supported by the National Science Foundation and the Coulter Foundation to reward those universities that make the most progress on accelerating economic growth and job creation. 

Now more than ever, the jobs of the future will spring from the inventions of today, which will be built on the foundation of a strong and balanced intellectual property system. As President Obama explained today, “We should be encouraging the entrepreneurial spirit wherever we find it.  We should be helping American companies compete and sell their products all over the world.  We should be making it easier and faster to turn new ideas into new businesses and new jobs.  And we should knock down any barriers that stand in the way.”  

Have questions on the America Invents Act? Today, US Chief Technology Officer Aneesh Chopra will be answering your questions with USPTO Director David Kappos during an Open for Questions event on WhiteHouse.gov. Join us live at 5:00 p.m. EDT on Friday, September 16th. Here's how it works and how you can participate:

• Use the hashtag #WHChat on Twitter to ask your questions on the America Invents Act
• Watch and ask your questions through the White House Live Facebook App
• Tune in live on WhiteHouse.gov/live

Congress Moves Forward on FAA, Surface Transportation Extensions that Keep Jobs; Now Let's Talk about Creating Jobs

Ed note: The following is cross-posted from the Department of Transportation blog

Last night, the U.S. Senate followed the House and voted to extend authority for the Federal Aviation Administration and our nation's surface transportation programs to continue operating.  Passing this legislation keeps hundreds of thousands of men and women on the job.  For commuters, truck drivers, and air travelers, it will allow critical road, transit, and airport projects to move forward. 

Our surface transportation law provides money to the states for thousands of transportation projects currently under construction around the country.   The hundreds of thousands of workers on road and transit project job sites across America will all breathe a little easier this weekend without the threat of a shutdown looming over them. And our valuable professionals at the FAA will be able to go about their business of modernizing our airports and researching new and better ways to run the best aviation system in the world.

Office Hours 9/15/11 or "Carrier pigeon, have you considered it?": Jason Furman Answers Your Questions on Twitter

Continuing the White House "Office Hours" series, Jason Furman, Principal Deputy Director of the National Economic Council, answered your questions on the American Jobs Act on Twitter. You asked Jason about relief for 99ers, modernizing schools, paying for the Act, and much more. Check out the full Q&A below, or over on Storify.

Be sure to follow @WHLive and @WhiteHouse on Twitter for more chances to engage.

Assistant to the President and Principal Deputy Director of the National Economic Council Jason Furman answers Twitter questions on the American Jobs Act during a session of White House Office Hours. September 15th, 2011.