State Treasurer Grossman caught up the Duxbury Democratic Committee Tuesday night about how he’s translating his expansive business background into more jobs for the Commonwealth through the Small Business Banking Partnership.
Grossman explained the initiative launched last year and puts money in the hands of businesses to help the economy grow, “Our taxpayers’ money, instead of having it be in Europe, Asia, and Australia lets deposit in local banks; banks like Rockland Trust, South Coastal Bank. We deposited millions of dollars into those banks and their making loans, small businesses are benefiting, they’re creating jobs.”
According to the State Treasurer, 49 banks participate in the partnership and have helped business owners including one Weymouth stone designer, “Because of this loan that South Shore Savings Bank was willing to make to Wahvu he’s going to go from eight people to twelve employees, buy some new equipment, beautify his premises, and become a bigger force.”
Recently Treasurer Grossman doubled the maximum amount a bank can request from the state reserve fund to $10 million.
For weeks, South Shore residents have battled the MBTA over two proposals to slash service and increase fare but State Treasurer Steve Grossman reassured Duxbury residents that help is on the way, “The Governor’s come up with some creative suggestions as to how to use the unspent money for snow removal in the short-term but we need a long-term solution.”
$40 million from the state’s snow budget will go towards lowering the MBTA’s $161 million budget gap for the upcoming fiscal year. Treasurer Grossman said there will be an increase in fare but not as heavy as first proposed.
Is the title of Massachusetts Governor in his future?
Well, he said his focus is on creating jobs and protecting the public’s money, running for Governor may be in his future but not on the top of the list, “Let’s get past this election. I want to help Barack Obama get reelected. I want to help some other candidates, Elizabeth Warren. And next year we’ll talk about 2014 but right now my focus is getting the job done and keeping the promises I made to the people of this Commonwealth when I ran in 2010.”
Treasurer Grossman lost the Democratic nomination for Governor ten years ago.