New Markets, New Jobs: The National Export Initiative Small Business Tour with Governor Mark Dayton and Minneapolis Mayor R.T. Rybak will be held Thursday, February 17, 2011, from 8:30 a.m. to 3:00 p.m. at the University of Minnesota McNamara Alumni Center, 200 Oak St., S.E., Minneapolis, MN 55455. The day-long conference designed to help connect small and medium sized Minnesota businesses with the resources they need to sell more of what they make in markets overseas.
“For America to win the future, more small and medium sized businesses must export, because the more small businesses export, the more they produce; the more they produce, the more workers they need, and that means good-paying jobs here at home,” said U.S. Commerce Secretary Gary Locke, who is scheduled to attend.
Also scheduled to attend are U.S. Trade Representative Ron Kirk, Small Business Administration Administrator Karen Mills, Chairman of the Export-Import Bank of the United States Fred Hochberg and U.S. Deputy Secretary of Agriculture Kathleen Merrigan.
This National Export Initiative Small Business Tour is designed to help achieve President Obama’s goal of doubling exports in the next five years to support the creation of several million new jobs.
“New Markets, New Jobs” will address the challenges of America’s small and medium sized businesses that still face many hurdles in getting their products to new markets: the lack of readily available information about exporting and market research; challenges in accessing export financing; and strong competition from foreign companies and governments.
Governor Dayton said he is pleased to welcome the New Markets, New Jobs tour to Minnesota, and reiterated his Administration’s focus on building a climate for economic growth and job creation.
“Delivering Minnesota products to expanded markets represents a tremendous opportunity for growth,” said Governor Dayton. “Choosing Minnesota as the launch pad for a national focus on increasing exports underscores the entrepreneurial spirit of our state, and gives us yet another opportunity to expand local businesses and increase jobs.
“We will work directly with our local businesses, to help them leverage the public and private resources available to them to help expand into new markets,” he added. “I look forward to working with Secretary Locke and the members of the National Export Initiative to create New Markets and New Jobs here in Minnesota.”
Conference attendees will benefit from:
• Trade resource panels on key export topics, including the spectrum of federal resources that can help businesses begin exporting or expand their exports.
• Materials and resources to guide Minnesota companies in the process of selling their products to consumers all over the world;
• Lessons learned from area businesses who have succeeded in utilizing federal resources to expand into new markets and grow their businesses; and
• Remarks from senior Obama Administration officials.
The Minnesota stop will be followed by events in Los Angeles, Louisiana and Wilmington, Del. in the coming months. The conferences, which were called for in September’s Report to the President on the National Export Initiative, and are intended to reach more than 3,500 small and medium sized companies interested in exporting.
“We know that firms that export grow faster, add jobs more quickly, and pay better wages than those that don’t. At the same time, 95 percent of the world’s customers live beyond our borders. To ensure that our small businesses can compete for those customers, we are working to open more markets and maintain a level playing field,” said Kirk.
U.S. SMEs that export are more productive and generate more revenue than SMEs that don’t. A recent International Trade Commission survey found that exporting small and medium sized manufacturers in 2009 had more than twice the total revenue of their non-exporting counterparts. They experienced revenue growth of 37 percent between 2005 and 2009, while total revenue declined by 7 percent for non-exporting SME manufacturers over the same period.
Unfortunately, very few small and medium sized businesses export, and they still face significant hurdles in getting their products into new markets, including a lack of readily available information about exporting and market research; challenges in accessing export financing; and strong competition from foreign companies and governments.
“Ninety-five percent of the world’s consumers live outside of the United States,” Mills said. “In order for small businesses to continue to lead the American economy into prosperity, they need access to the global marketplace. The New Markets, New Jobs tour is another opportunity for SBA, through our nationwide network of resource partners, to help small businesses reach new markets, create jobs and maintain America’s global competitiveness.”
The NEI aims to double U.S. exports in five years to create several million new jobs. It enhances the U.S. government’s trade promotion efforts, increases credit to businesses – especially small and medium sized businesses – looking to export, and continues to improve efforts to remove trade barriers for U.S. companies in foreign markets.
Exports were up 17 percent in the first 11 months of 2010 compared to same period in 2009. November 2010 exports of goods and services ($159.6 billion) were the highest since August 2008 ($162.9 billion) and with record merchandise exports to China ($9.5 billion).
Reserve your seat for the NEI Small Business Tour today at http://www.export.gov/newmarketsnewjobs/eg_main_024190.asp.