Brian Fitzpatrick

10/28/2024 | Press release | Distributed by Public on 10/28/2024 16:37

Fitzpatrick Secures $500,000 to Fuel Small Business Growth and Economic Development in Bucks County

Langhorne, PA - Today, Congressman Brian Fitzpatrick (PA-1) announced a major victory for Bucks County small businesses, securing $500,000 in Community Project Funding (CPF) for the Bucks County Industrial Development Authority's Startup Bucks Fund. This federal investment, part of the FY23 Consolidated Appropriations Act, was championed by Fitzpatrick as part of a broader effort to direct federal resources to key projects and programs that directly benefit Pennsylvania's 1st Congressional District.

Through the Community Project Funding Request process for the 118th Congress, which was included in the Fiscal Year 2024 budget, Fitzpatrick successfully secured more than $27.5 million in funding for 14 transformative community projects that will directly benefit First District constituents. Additionally, Fitzpatrick secured over $19 million in CPF Funding for 13 projects in FY23 and over $6.6 million in CPF funding for 10 projects in FY22.

Founded in 2019 with a mission to cultivate a thriving small business community in Bucks County, Startup Bucks is a vital resource for local entrepreneurs. Through their Bucks Built Fund, they invest up to $25,000 in early-stage startups, leveraging funding from the Bucks County Industrial Development Authority and grants from Penn Community Bank. Recipients benefit from up to 12 months of iterative advising, access to essential resources, and valuable connections, empowering them to achieve sustainable growth and secure follow-on investment. Through Fitzpatrick's leadership, this additional support will extend their reach, enabling more entrepreneurs to thrive, stimulating economic development, and attracting innovative startups to Bucks County.

"Small businesses are the backbone of our economy, and in this challenging climate of rising inflation, supply chain disruptions, and labor shortages, initiatives like Startup Bucks are essential to their survival and success. Since my arrival in Congress, I have been dedicated to delivering tangible support for our small business community-working to reduce burdensome regulatory costs, expand access to capital, and empower entrepreneurs to keep their doors open and create jobs. I am proud to have fought for the funding that will support this transformative initiative, which not only fosters small business growth and economic development but also serves as a vital resource for our remarkable small business community in PA-1," said Congressman Brian Fitzpatrick.

"Bucks County has always had a strong history of cultivating small businesses. This funding from Congressman Fitzpatrick shows the strong commitment we all have in Bucks County to fostering innovation and supporting our local entrepreneurs," said Stephen Marzullo, Chairman of the Bucks County Industrial Development Authority Board. "This is just the start of what we hope will be an ever growing and long-lasting resource for small businesses in the County."

"This investment in our startup community is a step forward in ensuring that small businesses have the foundation they need to grow and thrive," added TJ Lonergan, Executive Director of the Bucks County Industrial Development Authority. "The resources provided through the Bucks Built Startup Fund will be instrumental in helping entrepreneurs navigate challenges, access critical support, and drive meaningful economic growth for the entire County."

More About Startup Bucks:

The mission of Startup Bucks is to create and sustain a vibrant business startup ecosystem in and around Bucks County, Pennsylvania. With a population of 630,000+ and proximity to Philadelphia and New York City, Bucks County is a locale that attracts entrepreneurs, investors, and startup talent to live, work, and play.

Startup Bucks, a 501(c)3 organization founded in 2019, exists to help innovative companies start and grow by supporting founders and connecting the startup ecosystem across the County.

Learn More About Additional Community Projects Congressman Has Secured Critical Funding for:

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