Day 5 #RideMI Motorcycle Tour: Peters Visits Sport Truck USA and Tibbits Opera House in Coldwater

COLDWATER, MI – On the fifth and final day of his #RideMI Motorcycle Tour, U.S. Senator Gary Peters stopped in Coldwater to visit Sport Truck USA, an aftermarket suspension and off road product distributor. Peters, a member of the Senate Small Business and Entrepreneurship Committee, highlighted the success of the company, which has grown from 60 workers to nearly 160 over the past six years. After touring their Tech Center, Truck Warehouse and Manufacturing Center, Peters drove an off road truck and discussed his work in the Senate to help small businesses across Michigan grow.

“I am so impressed by the entrepreneurial ambition and rapid growth of Sport Truck USA, now a major employer in Branch County,” said Senator Peters. “Small businesses create 6 out of 10 new jobs, and I am committed to helping other companies like Sport Truck USA compete, expand, and ultimately create more jobs and invest back in their local communities.”

Last year, Peters joined Senator Stabenow in introducing the Small Business Access to Capital Act of 2015, which will reauthorize and improve the State Small Business Credit Initiative (SSBCI), which leverages private financing to help small businesses access the capital they need. The program has been a huge success, supporting nearly 9,000 jobs in Michigan and leveraging nearly $450 million in capital for Michigan businesses since 2010. As a member of the House of Representatives, Peters authored the legislation creating SSBCI. Additionally, Peters has introduced and passed bipartisan provisions to strengthen the Small Business Administration’ (SBA) 7(a) program, its flagship lending program. The SBA’s 7(a) loan program helps small businesses and startups with a wide range of business development activities, including the establishment or acquisition of a business, business expansion, and the purchase of equipment, machinery, or supplies, as well as for short-term and long-term working capital. The 7(a) program has recently experienced extremely high demand, reaching its loan limit earlier than expected. Peters worked with Republicans and Democrats to lift the caps on 7(a) loans to accommodate demand and is now working prevent any lapses in the program that might result in suspended lending. 

After his visit to Sport Truck USA, Senator Peters stopped at Tibbits Opera House. Built in 1882, Tibbits Opera House is the second oldest theatre in Michigan. Peters toured the Opera House, theatre, and visual gallery, and received an overview of the site’s restoration process. Peters is cosponsoring legislation to expand the federal historic tax credit, which would encourage the rehabilitation and preservation of historic buildings like Tibbits Opera House.

“Michigan’s treasured historic sites not only tell the story of our state and our people, but they attract visitors and tourists, boosting the economy and creating jobs in the communities where they are located,” said Senator Peters. “I enjoyed touring the Tibbits Opera House to see how they are simultaneously preserving Michigan’s past with a wonderful restoration project and making new memories for the Coldwater community with year-round performances and entertainment.” 

“Built in 1882, Tibbits Opera House is a Michigan landmark and a cherished cultural center,” said Christine Delaney, Executive Director of Tibbits Opera House. “It is critical that we preserve historic sites that are a part of Michigan’s heritage for future generations and visitors alike. I thank Senator Peters for his visit today. I appreciate his taking the time to learn more about Tibbits and our exciting restoration efforts, and am thankful for his work in the Senate to protect these treasured properties.”

Since 2002, Michigan’s 298 Federal Historic Tax Credit projects have created 27,500 jobs - including 16,072 permanent jobs - generated $2 billion in income, and yielded $430 million in tax revenue. The Historic Tax Credit Improvement Act would increase these federal historic tax credits to support community development investment incentives, encouraging tourism and job creation in the region.

Over the course of his five day #RideMI Motorcycle tour, Senator Peters drove through 26 Michigan counties, stopping in 12 along the way. Peters spoke with constituents about the work he is doing on their behalf in the U.S. Senate – from supporting our veterans to strengthening our small businesses.