State Rep. Ron Reynolds (Fort Bend County, District 27) filed House Bill 2261, which will require the comptroller and state agencies to give preferences to small businesses when purchasing goods or services with a value less than $500,000.00.
“Small businesses are the backbone of our economy and are critical to Texas’ economic strength and stability,” said Rep. Reynolds. “This bill will provide crucial opportunities for our small businesses and will ensure they can continue to expand and thrive.”
Small businesses represent 98.7 percent of all employers and employ 46.4 percent of the private-sector labor force. Small businesses are crucial to the fiscal condition of the state and numbered 2.3 million in 2011. In addition, they employ over 4 million people every year.
“I look forward to working with my colleagues in the House to move this bill forward so we can develop good policies that will create more jobs and expand economic prospects for our small business owners,” commented Reynolds.