Ex-Im Financing Reaches Highest Half-Year Total in Bank's History
115,000 American Jobs Supported in First Six Months of 2011
For the first half of the year, Ex-Im completed $13.4 billion in total authorizations.
This supported $15.9 billion in exports and more than 115,000 U.S. jobs, a 14 percent increase in jobs supported over the first half of 2010.
These strong financial results put the Bank on a path to its third consecutive record-breaking year.
U.S. On-Track to Double Exports by 2015
Nationally, exports were up almost 17 percent in 2010, putting the U.S. on track to reach President Obama's goal of doubling exports by 2015.
In January, American business kept that momentum going with the highest export total ever recorded.
This growth is building the foundation necessary for future stability, prosperity and economic recovery — and it is a testament to America's competitive edge in the global marketplace.
As the Wall Street Journal recently reported, exports powered nearly half of U.S. economic expansion since the recession ended in mid-2009, a trend unique in post-World War II history.
Going forward, there is enormous opportunity, particularly in emerging economies, to build on this export-led rebound — and to fundamentally reshape and rebuild our nation's economy over the course of the next quarter century.
2011 Annual Conference Attracts More Than 1,200 Attendees
Chairman Hochberg lays out vision for strengthening America's economy through exports
In his Annual Conference speech, Chairman Hochberg laid out his vision for building an export-focused 21st century American economy, driven by innovation, inspired by American entrepreneurship and fueled by competitive financing.
The Chairman emphasized global infrastructure development as an area of enormous opportunity for American business. Global infrastructure spending is expected to be $2.1 trillion a year for the next ten years.
The Chairman also talked about how improved turnaround time, new products and streamlined processes are contributing to the Bank's record performance. (To view the Chairman's speech, click
http://bit.ly/gZoJeE)
 In total more than 1,200 business leaders, government officials, and foreign buyers attended Ex-Im's annual conference in Washington, D.C., on March 31 and
April 1.
The conference's theme — Government at the Speed
of Business — highlighted how Ex-Im helps large companies level the playing field when they compete
in the global market place — and ensures that small businesses have the access to capital needed to make exporting a growing and viable part of their operations.
The Chairman concluded his speech by reiterating his commitment to working with more American businesses to get more products to more customers in more countries.
He stated, "Government at the speed of business is not a marketing slogan. It is an operating principle that we strive for throughout our bank, so that we can be your competitive edge in the global marketplace. That is how we approach our work at Ex-Im. And that's how, together, we will win the future."
Watch highlights of the conference with remarks from James McNerney, Jr., CEO of the Boeing Company; Larry Summers, Former Director of the National Economic Council; Vikram Pandit, CEO of Citigroup; Dave Cote, CEO of Honeywell; Peter Loscher, CEO of Siemens AG; and Douglas Oberhelman, CEO of Caterpillar [http://bit.ly/gZoJeE]
Hochberg Discusses Export Opportunities with Squawk Box and the Washington Journal
 Chairman Hochberg appeared on MSNBC's Squawk Box and CSPAN's Washington Journal to discuss key emerging markets and opportunities for small business to make exporting a more profitable part of their business.
Chairman Hochberg told Washington Journal, "Eighty-five percent of the work we do is for small companies."
Click below to view the Chairman's interviews:
(March 29, 2011) Squawk Box
| (March 23, 2011) Washington Journal
Global Access For Small Business in Full Swing
 Ex-Im Bank's recently launched initiative, Global Access for Small Business, is off to a strong start, with upcoming events in Miami, FL; Wilmington, DE; San Leandro, CA; Charlotte, NC; Providence, RI; Cleveland, OH; and Phoenix, AZ.
To date, Global Access events have been held in New Hampshire, Louisiana, Missouri, California, Colorado, Pennsylvania, New York and New Jersey. In total, 20 Global Access events are planned for 2011.
One of the priorities that President Obama emphasized when he launched the National Export Initiative was that small business needed to be front and center as we build an export economy. That is what Global Access is all about.
The goals of Global Access are both concrete and ambitious. By 2015, Ex-Im plans to:
 Approve $30 billion in total small business authorizations
Double annual small business volume
And add 5,000 small businesses to our portfolio
Global Access helps small business owners have the peace of mind and security to sell their products in the global marketplace — by removing the fear of non-payment.
This program is a model for how government and the private sector can come together to support American business, stimulate private sector jobs, and strengthen our long-term economic growth through exports.
To learn more about Global Access and Ex-Im's small business outreach:
USA Today |
NPR
Featured Small Business Success Story — Notes from the Chairman
BendTec Inc. — Duluth, Minnesota
Exporting to: Russia
One of the businesses I met with at the Annual Conference was BendTec. They sell fabricated high pressure piping, bends and fittings.
Throughout its history, BendTec has self-financed it sales. However, when a large, critical order came in to export to a Russian company doing business in India, BendTec turned to Ex-Im because of the size and scope of the potential transaction.
As Tom Conrad, BendTec's CFO told me, this sale was a game changer for the company because these "markets are necessary for us to grow our business in these economically challenged times."
During the economic crises, BendTec was forced to lay off workers. However, with the backing of a $39 million export-credit insurance policy and a $22 million working capital loan from Ex-Im, BendTec will be able to complete the largest sale in its history.
This transaction will allow the company to hire back many of the employees who lost their jobs during the recession — and to add additional workers. The transaction will support a total of 110 jobs and it will allow BendTec to add approximately 80 additional workers.
To read more about BendTec, go to (http://go.usa.gov/bCN
)
American Business Needs to Get in the Game
In an op-ed in the Huffington Post on March 24th, Chairman Hochberg wrote about the enormous opportunities for American businesses to grow their export sales in Brazil.
The Chairman highlighted the country's ambitious infrastructure investments and new Ex-Im financing that will assist Brazil in purchasing more American-made products and services for these projects.
President Obama recently announced $1 billion in available Ex-Im financing for Brazilian infrastructure projects, including the World Cup, Summer Olympics and projects associated with cleanup from the recent floodings.
In March, Chairman Hochberg traveled with President Obama to Brazil to announce the financing and returned in April to participate in the World Economic Forum meetings and to build awareness of opportunities with Ex-Im.
To read the entire Huffington Post piece, go to: http://www.huffingtonpost.com/fred-hochberg/american-business-needs-t_b_840060.html
Pennsylvania and Georgia Companies Powering-up Communities Abroad; Creating Good American Jobs Here at Home
 Chairman Hochberg recently visited two companies that are showing how the U.S. can become a leader in the renewable energy sector — Gamesa and Suniva.
Both companies have made exporting a central focus of their business — and both are revitalizing communities, while creating good, secure American jobs.
Gamesa, a Spanish wind turbine company, set up shop in Pennsylvania because of the skill set of the local workforce and the market access the region provided. The company invested in and transformed a former U.S. Steel plant site into a modern wind turbine facility. The plant is represented by the United Steel Workers.
Ex-Im has been working with Gamesa, as part of a $159 million direct loan to build the largest wind farm in Central America. The Cerro de Hula wind farm, which is based in Honduras, used the financing to purchase 51 American-made wind turbines from Gamesa's Pennsylvania facility.
In addition to meeting with Gamesa workers and management in February, Chairman Hochberg returned last month with President Obama as part of a clean energy town hall meeting held at the company. You can watch the President's remarks here http://go.usa.gov/TE8
In February, Chairman Hochberg also visited Suniva, a leader in affordable, highly efficient solar cell technology. Ex-Im has worked closely with Suniva on a wide range of projects in Europe and India.
Suniva is a model for how you take an innovative idea and build a successful business.
The company grew out of a project at Georgia Tech — and today it is a world leader in providing cost efficient solar cell technology.
Ex-Im Bank is an independent federal agency that helps create and maintain U.S. jobs by filling gaps in private export financing at no cost to American taxpayers. The Bank provides a variety of financing mechanisms, including working capital loan guarantees, export-credit insurance, and financing to help foreign buyers purchase U.S. goods and services.
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Ex-Im Bank is self-sustaining and is able to cover all operating costs and potential losses while also producing revenue. The Bank has generated $3.4 billion for U.S. taxpayers over the past five years.
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Follow Ex-Im Bank on Twitter at http://twitter.com/eximbankus.
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