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 user 2004-03-05 at 10:41:00 am Views: 44
  • #6357

    Remanufacturer Joins President Bush in ‘Conversation on the Economy’

    In January, one Massachusetts remanufacturer got a chance to meet with President George W. Bush in person and discuss his tax relief package that has benefited small businesses.

    Nancy Connolly, founder and president of the Littleton,Mass.-based Lasertone Corp., which employs more than 70 people currently, was one of several women business owners from throughout the United States who was invited to one of President Bush’s “Conversations on the Economy.” The event, held at the U.S. Department of Commerce in Washington D.C., on Jan. 9, focused on the impact of the president’s tax relief programs for small businesses.

    “Those of us who were selected had experience with how the tax relief package had helped us in our businesses,” Connolly said. “We had all grown our businesses; we had all taken advantage of the tax relief package.”

    Connolly said that more than $100,000 of around $350,000 invested in her business last year qualified for tax breaks, which netted the company between $30,000 and $40,000 in additional funds not eaten up in taxes.

    “Any money that I was able to reclaim or keep that didn’t have to go out to taxes supports any growth, whether it’s buying another vehicle or whatever it happens to be,” she said. Connolly described the additional funds available to businesses receiving tax cuts for supplies and other goods as part of a “ripple effect,” which further stimulates the economy when other companies sell more goods.

    Connolly said that the president’s tax cut helped provide her with an additional incentive to go forward with plans to hire 20 new people this year.

    “I don’t think we would have had Nancy sitting here two years ago saying, ‘gosh, I look forward to hiring 20,’” said President Bush during the event. “I suspect she might have been saying, ‘I hope to keep the 70.’ A lot of small businesses were just hanging on to what they had during tough economic times.”

    Connolly spoke about the significance of tax cuts to small businesses during the event and also talked about the importance of programs on the national level to support remanufacturing.

    Also discussed during the meeting was the need for the president’s tax relief plan to become part of a permanent tax code to stimulate more job creation. “Along with rising health care and all the other costs of doing business, when we are able to at least get some kind of break from the investments we’re making in our businesses, that to me spells good advocacy for small businesses in this country,” Connolly said.

    Lasertone is one of the nation’s leading woman-owned providers of networked printer supplies, service and hardware. In addition to producing nearly 100,000 private label laser toner cartridges annually, the company implements total print management programs that employ multi-function peripheral (MFP) devices.