Contact:
Tom Thieding, 608-210-6767
tom.thieding@wedc.org
Link to Release:
http://inwisconsin/com/blog
MADISON, No. 7, 2012 – The Wisconsin Economic Development Corporation was recently awarded a $661,087 State Trade and Export Promotion (STEP) grant from the Small Business Administration (SBA).
The STEP grant will be used to assist Wisconsin companies to incorporate exporting into their business operations, support trade missions to key countries and work with economic development organizations and financial professionals to support companies exporting. The initiatives planned for the STEP funding will cover activities in Asia/Pacific, the Americas, Europe, India, Middle East and Africa.
“This grant is very important to the growth of Wisconsin’s economy,” said Ryan Murray, COO and Deputy Secretary of WEDC. “At $22 billion in exports, Wisconsin has the potential to significantly increase its position from 18th in the nation to become a top ten exporting state.”
The WEDC is working with the Wisconsin Department of Agriculture Trade and Consumer Protection, Wisconsin Manufacturers Extension Partnership and economic development partners to carry out the export programs.
“Training and development for companies, economic development professionals, banks, financial service providers, credit and finance professionals are critical components in moving new-to-export and early export companies along the continuum to becoming a competent and consistent exporters’” said Lora Klenke Vice President of International Development at WEDC.
The grant will assist companies in finding customers in development markets such as China, India, Middle East, and South America. This will include export training and development, trade missions.
The Department of Agriculture, Trade & Consumer Protection (DATCP) will enhance the competitiveness of Wisconsin’s forestry industry in China through a trade mission and exporter seminar with Wisconsin Department of Natural Resources and Lake States Lumber Association. Providing a forum for interaction between Chinese buyers and Wisconsin suppliers, and sharing knowledge and expertise, will help to increase exports and improve market share for Wisconsin’s forestry products in China. Funds will also be used for exporter training for the livestock and bovine genetics industries in Wisconsin.
About Wisconsin Economic Development Corporation
Wisconsin Economic Development Corporation (WEDC), formed in 2011 as a public-private entity, leads economic development efforts for the state and nurtures business growth and job creation by advancing Wisconsin’s business climate. In addition to Wisconsin’s strong legacy industries of agriculture and manufacturing, recent growth has occurred in water technology, renewable energy, biosciences, health care, and food processing. In 2012 Wisconsin was ranked No. 20 in Chief Executive Magazine’s “Best States for Business” and No. 17 as a top state for business by CNBC. WEDC partners with 650 economic development organizations throughout Wisconsin to serve businesses looking to start, grow or relocate. WEDC has four focus areas: business and industry development, economic and community development, entrepreneurship and innovation, and international business development. Visit inwisconsin.com or follow WEDC on Twitter @_InWisconsin to learn more.
