Delaware Businesses Gain Ally in Global Trade Arena
Businesses Gain Export Assistance as The State of Delaware Becomes Export-Import Bank City/State Partner
Delaware companies seeking to begin or increase exports to world markets have gained a powerful new ally right in their own backyard now that the State of Delaware and the Export-Import Bank of the United States (Ex-Im Bank) have signed a partnership agreement.
The Office of the State Treasurer, along with the Delaware Economic Development Office (DEDO) and the World Trade Center Delaware (WTCDE), has joined Ex-Im Bank’s City/State Partners Program, a national marketing initiative that brings export financing services to small and medium-sized U.S. companies through cooperation with state and local government offices and private sector organizations
“This really is an important tool to help Delaware to grow its own businesses and become competitive entities on the global stage,” State Treasurer Jack Markell said. “This relationship with Ex-Im Bank opens the door for our Delaware businesses to take full advantage of the valuable plans and programs designed to enable them to better compete in emerging growth markets abroad.”
Ex-Im Bank, now in its 71st year of operation, is an independent U.S. government agency that helps finance the sale of U.S. exports primarily to emerging markets throughout the world by providing loans, guarantees and insurance. In fiscal year 2004, Ex-Im Bank authorized financing to support approximately $17.8 billion in U.S. exports worldwide, a 25% jump from a year earlier.
“This agreement has the potential to lift the export activity of Delaware businesses to the next level, which would increase employment,” Rebecca Faber, Executive Director, World Trade Center Delaware said. “The assistance offered through Ex-Im Bank solves some of the problems that can limit international sales of goods and services both for businesses already in the export market as well as companies new to the global marketplace.”
For more information about the City/State Partnership agreement, please contact the Office of the State Treasurer, 302-744-1000.
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