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Created on May 14, 2013
With 95 percent of the world’s consumers living outside U.S. borders, helping U.S. companies find partnerships and customers in fast-growing markets is crucial to creating a strong and vibrant economy built on good middle class jobs.
As a part of our overall goal to increase American exports, next week, 20 U.S.-based companies will join me on an infrastructure-focused trade mission to Sao Paulo, Brazil; Bogota, Colombia; and Panama City, Panama. Each of the governments of these fast-growing countries have ambitious infrastructure expansion and improvement plans for the years ahead.
This trade mission will allow U.S. companies to highlight their cutting-edge technologies and world-class engineering services. The trade mission will also allow them to make the personal connections they need to expand their businesses and it will build on President Obama’s National Export Initiative, a government-wide strategy to promote American exports and create 2 million export-supported jobs by the end of 2014. Last year, U.S. exports hit another all-time record, reaching $2.2 trillion. Between 2009 and 2012, exports have supported 1.3 million additional jobs.
Obama Administration Seeks Applicants for First Phase of 'Investing in Manufacturing Communities' Partnership
Created on May 10, 2013
Effort will encourage an improved approach to economic development around the country
The Obama administration today announced that it is accepting applications for the first phase of the “Investing in Manufacturing Communities” Partnership, a new initiative outlined in the President’s fiscal year 2014 budget that will help accelerate the resurgence of manufacturing and create jobs across the country.
Phase One of the “Investing in Manufacturing Communities” Partnership: In the first phase of this effort, the Departments of Commerce and Agriculture as well as the Small Business Administration and Environmental Protection Agency will award at least 25 grants of up to $200,000 each to help regions develop long-term economic development strategies intended to create a globally competitive environment that will attract, retain and expand investment and spur international trade and exports. These “Implementation Strategies” will encourage collaboration at the local level to identify the region’s comparative advantages and assets, and plan investments to expand the area’s appeal to manufacturers. In addition, these grants can be used to help communities prepare for the second phase of this initiative, IMCP “Challenge” grants.
Created on May 6, 2013
Sana International Commerce, Inc. (Sana International Commerce) received the Minority Business Exporter of the Year award from the Export-Import Bank of the United States (Ex-Im Bank). The award was presented at the Bank's 38th Annual Conference in Washington, D.C.
"By selling their products to customers overseas, Sana International Commerce has been able to drastically increase sales and sustain American jobs," said Ex-Im Bank Chairman and President Fred P. Hochberg. "I am proud that we supported a record level of exports by minority-owned businesses last year, and Ex-Im Bank remains committed to ensuring that business owners of all backgrounds have access to the financing they need to succeed."
"The support of the Ex-Im Bank has helped our company bloom," said SANA International Commerce Manager Rossie Ortiz. "When we started our operations, we often had to reject orders due to lack of capital. However, with the support of Ex-Im Bank, we have increased our sales and created jobs in our community."
Created on May 2, 2013
Export, trade and finance related agencies across the federal government are teaming up during World Trade Month - May 2013 - to host a series of Twitter Q&A’s for U.S. companies. Businesses can participate by tweeting their questions using the hashtag #TradeChat during the scheduled times.
This Twitter chat series will provide U.S. companies with exporting solutions, including information on the resources available to begin or expand exporting goods and services to overseas markets. The Twitter chats will also provide an opportunity for firms to ask questions and connect directly with the U.S. government agencies that support President Obama’s National Export Initiative (NEI) and BusinessUSA.gov – a new one-stop resource for small businesses and exporters.
Schedule and topics:
Thursday, May 9th at 2:00pm EDT: Export Opportunities
Information about export assistance, international business partnership programs, match-making, and market research will be shared. U.S. companies will also learn about the new BusinessUSA.gov website and how this one-stop resource can help businesses begin exporting or increase their exports.
Thursday, May 16th at 2:00pm EDT: Financing
Export financing is often a key factor in a successful sale. U.S. companies should be aware of the many financing options available from U.S. government agencies to assist them with the export and trade process. This Twitter chat will provide firms with more information about the available financing options, including buyer financing, insuring foreign receivables, and working capital loans and guarantees.
Created on May 2, 2013
May brings warmer weather, longer days, and, most importantly for us at the Department of Commerce, World Trade Month. For years, this has been a special time to reflect on the importance of trade to our nation’s economic well-being.