Original Article via Eric Jay Toll | Phoenix Business Journal
Chandler, AZ is partnering with the Export-Import Bank of the U.S. to promote its financing capabilities to local businesses.
Chandler is the first Arizona city to take this step.
The proposed Regional Export Promotion Program, which goes to the city council June 23, will provide Chandler businesses with a city-based support team to help companies wanting to export find the financing needed to enter the world of global trade.
“We talked with Chandler companies who have been and are clients of the Export-Import Bank,” said Michael Winer, economic development specialist with the city’s economic development department. “Their experiences were all very positive, and we felt that we could do a service to Chandler businesses.”
The Export-Import Bank has programs to help small and mid-size companies obtain the credit needed to deploy export strategies. The bank, an independent, self-sustainable, U.S. government institutions to actually make money, provides credit and guarantees accounts receivable.
Winer said city leaders are aware of the need to boost global trade by Arizona companies.
“We saw in the (Metropolitan Phoenix Export Alliance) report that Arizona’s share of exports is less than the national average,” he said. “Only 4 percent of small and mid-size businesses export. Chandler wants to change.”
If Chandler deploys the program, one staff member will undergo special training on Ex-Im programs and be available to authoritatively answer questions and help connect businesses to global trade resources.
The city staffer, expected to be Winer, will be responsible for putting on a trio of seminars or presentations during the year and accountable for referring at least ten businesses to Ex-Im each year during the two-year renewable contract.
“Area businesses are missing out on (growth) opportunities by not exporting,” Winer said. “We’re increasing our efforts to connect them with resources.”
Chandler is also co-sponsoring an ExporTech training program with the Arizona Commerce Authority in September.
If the council approves the agreement with Ex-Im on Thursday, a formal kickoff will be slated with Ex-Im in August.
