Main Menu

U.S. International Trade Administration Presents “E” Awards To 45 Recipients

World Trade

Open Eyes Opinion {source: ITA}

“E” Awards

 

Hernon Manufacturing, Inc.

Receives the President’s “E” Award for Exports

eAward

Taking The Deeper Dive into Trade and Investment

Stefan M. Selig is the Under Secretary of Commerce for International Trade.

When discussing the merits of trade and investment, it is easy to focus on big national numbers: 11.7 million U.S. jobs supported by exports, $2.34 trillion in goods and services exported last year; 5.8 million Americans who work in U.S. subsidiaries of foreign companies.

But it is just as important to focus on how trade and investment directly benefits small and medium sized enterprises (SMEs), metropolitan areas, and individual states.  And several reminders of these benefits have recently occurred.

A reminder that exports spur growth for SMEs emerged last month during the presentation of the President’s “E” Awards. Of the 45 recipients of the “E” Award—which recognizes significant contributions to expanding U.S. exports—35 of them were SMEs.

One of those SMEs was Hernon Manufacturing, a Florida based-producer of adhesive sealants and precision dispensing equipment, which today exports to 44 countries throughout the world. The “E” Awards also highlighted the fact that SMEs comprise 98% of U.S. exporters.

Metropolitan areas like Des Moines also demonstrate to us how exports have elevated localities into major hubs of growth, prosperity and jobs. The Des Moines metro area has developed and expanded its export prowess to encompass the areas of financial services, international education, biotechnology, and value-added foods.

That prowess also reminds us that U.S. metro areas in 2013 exported $1.4 trillion in goods while 156 metro areas exported more than $1 billion in goods each.

Meanwhile, states like Florida and Michigan serve as reminders of our singular ability to import capital through foreign direct investment. Florida currently ranks 6th among all U.S. states in employment by majority foreign owned firms. And last month, Michigan became the home of the first ever North American manufacturing facility for ABB, the Swiss automation company.

Then there are the towns, cities, and states that serve as the engine of our leading travel and tourism sector. It is easy to forget that every dollar spent on passenger fares and tourism is considered a services export. And with Travel and Tourism Week taking place last month, we recognized the industry’s banner 2014: a record number of international visitors, 74.7 million, who spent a record $220.6 billion.

Of course, reminders of the benefits of exports are not as important as an understanding of how to export in the first place. That is why we are proud to offer the 11th edition of our “Basic Guide to Exporting.” In addition to providing guidance on how to increase export sales, there are also detailed sections on how to best utilize our 14 free trade agreements as well as information on e-commerce and export controls.

Finally, it is always worth remembering that American businesses are not only the recipients of the benefits of trade and investment. They are also the creators of them.

Thanks for everything you do to support U.S. exports, business investment, and job creation.

###

 

Click here for reuse options!
Copyright 2015 openeyesopinion.com





Comments are Closed