Quote of the Day
"The U.S. economy expanded at a faster clip than initially forecast in the third quarter, helped by more robust consumer spending and by stronger exports. The economy grew at a 2.5% annualized pace in the quarter, revised up from the initial estimate of 2.0%, the government said in its second estimate of quarterly gross domestic product. GDP growth was 1.7% during the second quarter.”
- Wall Street Journal’s MarketWatch, 11/23/2010
For Release: Thursday, July 29, 2010
Contact: David Gillies: 202-225-5661
FREE EXPORT SYMPOSIUM TO BE HOSTED BY CONGRESSMAN COSTELLO
Exports Live! to explore growth opportunities for businesses in Southern Illinois
BELLEVILLE – U.S. Congressman Jerry Costello (D-IL) and Mr. Fred P. Hochberg, Chairman of the Export-Import Bank of the United States (Ex-Im Bank), will host Exports Live!, a free international trade symposium in O’Fallon, Illinois, on Tuesday, August 17, 2010. Businesses of all sizes, lending institutions and economic development professionals will have a unique opportunity to learn how the Ex-Im Bank, Google, the Small Business Administration (SBA), the U.S. Department of Commerce and many others can work with their business or institution to increase their capacity to sell U.S.-made products in the global marketplace.
The Ex-Im Bank provides financing products to businesses nationwide, including working capital guarantees (pre-export financing), export credit insurance, loan guarantees and direct loans to buyers (buyer financing). As the official export credit agency of the U.S. government, the Ex-Im Bank has a multi-billion-dollar capacity that can help local businesses grow by exporting, especially during this difficult economic climate.
“In order to strengthen our economy, we can’t afford to have even one business miss an opportunity to sell their products because they lack the resources needed to participate in the international economy,” said Costello. “I am pleased Chairman Hochberg will be here to thoroughly explain the resources of the Export-Import Bank to our area. They will complement the local, state and federal resources currently available and together, we will be providing the business community the support they need to sell their U.S.-made products around the world.”
“I'm excited to join Congressman Costello to make sure that Southwestern and Southern Illinois companies have the tools they need to export, and I appreciate his efforts on behalf of the region,” said Hochberg. “Illinois workers can compete with anyone in the world, and this seminar will make sure that Illinois companies have the expertise they need to sell their products to the 95 percent of global consumers who live outside America’s borders.”
In addition to Costello and Hochberg, representatives from Google, the SBA, the U.S. Department of Commerce, the Illinois International Trade Center at Southern Illinois University at Edwardsville (SIUE), the Illinois Department of Commerce and Economic Opportunity (DCEO) and current exporting businesses will discuss the current export climate and the resources available to assist the business community. A detailed agenda will be available soon. Please contact Robert Stephan at (618) 233-8026 for specific questions about the agenda.
The event will be held at the Regency Conference Center in O’Fallon, Illinois, from 9 a.m. to 12 p.m. The event is free, but RSVPs are required to attend. Please RSVP to Robert.Stephan@mail.house.gov or via fax at (618) 233-8765.
Sponsors of this event include: Leadership Council Southwestern Illinois, Labor Management Committee of Southwestern Illinois, Illinois Chamber of Commerce, Illinois DCEO, Illinois International Trade Center at SIUE, MidAmerica St. Louis Airport, Regional Business Council, River Bend Growth Association, Southwestern Illinois Development Authority, St. Clair County, Madison County and the Tri-City Regional Port District.
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