[Congressional Record (Bound Edition), Volume 151 (2005), Part 6]
[Extensions of Remarks]
[Pages 8364-8365]
[From the U.S. Government Publishing Office, www.gpo.gov]




                      NATIONAL SMALL BUSINESS WEEK

                                 ______
                                 

                           HON. SUE W. KELLY

                              of new york

                    in the house of representatives

                        Thursday, April 28, 2005

  Mrs. KELLY. Mr. Speaker, I rise today to recognize the Small Business 
Administration and celebrate and applaud the dedication of America's 
small business men and women during ``National Small Business Week.''
  Small businesses are vital to our nation's economic growth and 
prosperity. America's 23 million small businesses represent more than 
99 percent of all employers, account for more than half of all private 
sector workers and generate 3 out of every 4 new jobs. Additionally, 
small businesses account for one-third of U.S. exports and more than 
half of the gross domestic product. These people are the risk-takers, 
innovators and creators of tomorrow.
  We've all heard that U.S. small businesses are the growth engine of 
our economy. As such, U.S. small technology businesses contribute 
significantly to our nation's economic security. The technological 
innovation and entrepreneurial spirit of small businesses such as HGI 
Skydyne ensure that the military, aerospace and electronics industries 
have access to a constant flow of unique technologies to create world 
class products.
  HGI Skydne, a small business in my district, dates back to 1938 when 
it began manufacturing and selling lightweight, protective cases. Over 
the years it became a regular supplier of state-of-the-art fiberglass 
and composite-material cases. Among the company's many achievements 
were a patented composite-material wing for the Corsair airplane, the 
design and production of the transportation container for NASA's Lunar 
Landing Module, and the design and manufacture of the cases that 
brought moon rocks home to earth. Despite those successes, Skydyne's 
owners were ready to shut its doors in 2002. However, Hornet Group, 
Inc., a small, six-employee product development company decided to 
acquire Skydyne. Thanks to the Small Business Administration's 7(a) 
Loan Program, Hornet Group was able to keep Skydyne afloat and also 
enabled them to hire additional employees--now totaling 80. Under their 
collective stewardship, a second round of SBA and Key Bank financing 
was recently completed in order to accommodate the company's 
astronomical growth--sales orders that have grown to $3 million from 
$200,000 in just two years! Now that's a real small business success 
story and there are many others with similar accomplishments.
  Entrepreneurship will continue to be the backbone of the American 
economy. Our future depends on the successful creation and

[[Page 8365]]

expansion of small business. It is our job to increase our efforts on 
behalf of small business to ensure we have an environment where they 
can thrive. During ``National Small Business Week'' let us recognize 
and reflect on the hard work and dedication of all our small businesses 
who overcome financial and regulatory hurdles in order to help our 
economy run smoothly.

                          ____________________