The White House, President George W. Bush Click to print this document

For Immediate Release
Office of the Press Secretary
January 12, 2006

Fact Sheet: A Commitment to Continued Recovery and Rebuilding in the Gulf Coast

President Bush is committed to helping residents of the Gulf Coast rebuild their lives in the wake of Hurricane Katrina. On December 21, 2005, the President signed into law the Gulf Opportunity (GO) Zone Act of 2005, which provided tax relief for businesses affected by Hurricane Katrina. Through this bipartisan legislation, along with other legislation and disaster assistance, the Administration is working to boost the small business sector and revive the spirit of entrepreneurship in Louisiana, Mississippi, and Alabama.

As businesses rebuild or purchase new equipment, the GO Zone Act will help in many important ways:

As businesses hire employees, businesses and workers are receiving the tax relief they need:

More information about the various tax provisions is available at or at 1-866-562-5227.

If businesses have suffered substantial economic injury or physical damage, they may be eligible for financial assistance from the U.S. Small Business Administration (SBA). Thus far, SBA has approved more than 6,000 physical disaster and economic injury loans totaling over $460 million. SBA has also partnered with local banks to initiate a one-year Gulf Opportunity Pilot Loan Program (GO Loan) to expedite small business financing.

If businesses are looking to participate in Gulf Coast reconstruction contracting with the Federal Government, they should contact the Hurricane Contracting Information Center (HCIC). Launched in October 2005, the HCIC has provided contracting information through over 150,000 website visits and 7,000 calls. More information is available at or at 1-888-487-2362.

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