Committee Examines Economic Potential of Wireless Innovations from Small Businesses

Press Release

The Small Business Committee, led by Chairman Sam Graves (R-MO), today held a hearing on the impact of wireless technology on small business growth and the overall economy, and the potential challenges and barriers that could limit growth.

The Committee received testimony from small businesses that create or rely on innovative wireless technologies about the economic benefits of these advances, and the need for spectrum so that expansion continues. Demand for mobile data soared by 62 percent in 2012, and is forecast to increase ninefold by 2017, according to the technology firm Cisco. Rapid innovation and new capabilities in wireless devices are driving this growth. A McKinsey Global Institute report estimates that one trillion devices and machines may be connected across the globe by 2025.

"Wireless technology brings a new job-creating dimension and efficiencies to all sectors of the economy with far-reaching potential for small businesses," said Chairman Graves. "Not only are small firms designing new innovations, but also small businesses and family farms are effectively using wireless technology in myriad ways. We must ensure that future innovations aren't limited by constraints on spectrum or other government-erected barriers that could restrain growth. The testimony of the witnesses today provided excellent insight on the innovative ways they rely on wireless technology for business growth."

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