Oregon Awarded $562,500 in State Trade Expansion Program Funding
Monday, October 10, 2016
“These STEP awards, in addition to SBA's export loans and U.S. Export Assistance Centers, help small businesses across our nation have the tools, resources and relationships they need to take their businesses global,” said administrator Maria Contreras-Sweet.
Awardees were determined by a competitive process, as required by the Trade Facilitation and Trade Enforcement Act of 2015.
STEP awards were created to advance key priorities identified in the Presidents’s National Export initiative to expand the base of small businesses that become exporters and to make the exporting process easier for small businesses.
“Exporting provides tremendous opportunities for America’s small businesses and entrepreneurs. Two-thirds of the world’s purchasing power can be found outside of the United States, but only about one percent of America’s 28 million small businesses are reaching customers beyond our borders. Exporting is an important growth opportunity for our small businesses that are ready to expand their reach into new and increasingly borderless global markets,” added Contreras-Sweet.
The awards are given to U.S. states and territories to support programs which help small businesses expand their export-related activities.
Activities include participation in foreign trade missions, foreign market sales trips, subscription services for access to international markets, and the design of international marketing campaigns, export trade show exhibits, export training workshops and more.
“This funding has allowed our company the ability to fulfill a number of initiatives. Most significantly, achieving important product certifications that opened up key International markets and application opportunities,” said Justin Dechene, Executive Vice President for Danvers-based Auburn Systems, LLC.
Recipients of STEP awards in the first three rounds (FY 2011, 2012, 2014) reported a return on federal taxpayer investment, generating $22 in U.S. small business export sales for every $1 awarded.
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