Today, the U.S. Senate passed legislation that included a key provision authored by U.S. Representative Rick Larsen (WA-02) to connect small and medium sized businesses with export opportunities that will help them grow and hire. Larsen’s proposal was included in the Small Business Jobs and Credit Act of 2010 that passed the Senate by a vote of 61 to 38. “I want to see the label ‘Made in America’ again,” said Rep. Larsen. “The Small Manufacturers Export Initiative will help our small and medium sized businesses export their products-not their jobs-overseas.”
The global market presents a fast and ever growing market for U.S. exports. Nearly 3.7 million – or 27 percent- of manufacturing jobs are supported by exports. In Rep Larsen’s district alone there are 192 aerospace production suppliers and other vendors, and in Washington state there are over 100 boat manufacturers-many of which are small businesses exporting their products.
However, most U.S. small and medium sized manufacturers are dissuaded from entering the global market place due to financial roadblocks, conflicting information, Intellectual Property Rights infringements and cultural differences. The Small Manufacturers Export Initiative will build the infrastructure necessary to help these American Small and Medium Sized Businesses access export opportunities around the world.
“In Washington state, approximately one in three jobs are linked to exports and the pay is 46% higher than the state average,” said Rep. Larsen. “The global marketplace offers tremendous potential for our businesses to grow good jobs. We need to do all we can to help small manufacturers sell their products across the world so they can expand and prosper.”
“The Small Manufacturers Export Initiative will provide the resources and infrastructure that small manufacturers need to access export opportunities around the world,” said Rep. Larsen. “Small businesses are the backbone of our economy, and we need to be their champions so we can build an environment that will allow them to thrive and create jobs.”
The Small Manufacturers Export Initiative will provide resources to the Department of Commerce to assist manufacturers in finding and developing new markets for their products. These funds are projected to help create over 9,000 jobs. It also authorizes funds to be used by the Hollings Manufacturing Extension Partnership (MEP) to expand the ExporTech program which helps manufacturing companies with the mechanics of exporting. The Department of Commerce projects the return on investment for the ExporTech program is 100:1.
“These tools are critical for helping small manufacturers in Washington state export their products and create jobs. Washington state is home to some of the greatest innovative minds in the country and this initiative will help local small businesses grow and be globally competitive. I commend Rep Larsen on his hard work on this bill,” said John Vicklund, President of Impact Washington (formerly Washington Manufacturing Services), a non-profit organization that strengthens Washington manufacturers to make them more globally competitive.
