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Klobuchar, LeMieux Introduce Legislation to Promote U.S. Exports Abroad

Every dollar spent on export promotion results in $213 in export revenue

March 5, 2010

Washington, D.C. – Today Chairman Amy Klobuchar (D-MN) and Ranking Member George LeMieux (R-FL) of the Senate Commerce Subcommittee on Competitiveness, Innovation and Export Promotion introduced the Export Promotion Act of 2010 to help small and medium-sized businesses promote their products overseas. Connecting businesses with export promotion resources has helped small businesses expand into new markets and substantially increase their bottom lines.  More than 95 percent of the world’s customers are located outside the United States, and recently, 30 percent of U.S. businesses indicated that they would be interested in exporting but did not know where to begin.

“At a time when our economy is experiencing problems, it’s more important than ever to make sure that our small and medium-sized businesses know about all potential opportunities available to them,” said Klobuchar.  “This bill will help promote Minnesota businesses in foreign markets and by doing so, will increase revenue, create jobs, and drive economic growth.  Exporting is literally a world of opportunity.”

“Increasing exports will increase job opportunities here in the U.S.,” said LeMieux. “This bill will provide small businesses with the resources and knowledge they need to promote their products abroad. Any steps we can take to increase exports will go a long way to help small businesses thrive and grow during these tough economic times.”

 Over the past six months, Klobuchar has held summits across Minnesota that examined how federal agencies can best help small and medium-sized businesses enter foreign markets and expand their international sales.

Last December, Klobuchar and LeMieux called for a report to detail the resources currently available to help small businesses increase their exports and provide recommendations for strengthening these programs.  Klobuchar and LeMieux also held a subcommittee hearing in October that examined the federal government’s efforts to promote U.S. products overseas and included testimony from several businesses as well as officials from the Export-Import Bank and the U.S. Department of Commerce, and several businesses including Mattracks, Inc., a company based in Karlstad, Minnesota.

The Export Promotion Act will help businesses by increasing export promotion and outreach efforts through the Commerce Department.  Officials in the Department of Commerce’s International Trade Administration have expertise in helping small businesses navigate their way into new markets abroad.  But for the past few years, the program that specializes in matching small businesses with potential export markets has not replaced retiring officials, losing roughly 200 officials since 2004 as demand for the assistance continues to increase. The bill will restore staffing levels in this program to their 2004 levels.

The legislation will also expand the outreach program through the Commerce Department’s Rural Export Initiative (REI) to ensure that small and medium-sized businesses located in rural areas know about the Commerce Department’s export promotion services. In 2006 alone the REI helped rural American businesses generate over $183 million in exports with an investment of $860,000 – a return of approximately $213 on each dollar.

U.S. exports currently support more than six million jobs in manufacturing and one million jobs in agriculture. Businesses that export pay employees 13 to 18 percent more and are 8.5 percent more likely to stay in business than companies that do not export.  However, less than one percent of U.S. businesses take advantage of exporting and of those that do export, 60 percent limit themselves to only one foreign country. 

Senators Jeanne Shaheen (D-NH) and Ron Wyden (D-OR) are also cosponsors of the legislation.

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