September 27, 2011

CARDIN, MIKULSKI ANNOUNCE EXPORT ASSISTANCE FUNDING FOR SMALL BUSINESSES IN WESTERN MD

WASHINGTON - U.S. Senators Ben Cardin and Barbara A. Mikulski (both D-MD) today announced the Appalachian Regional Commission (ARC) has awarded a $100,000 grant to the Maryland Department of Business and Economic for the Western Maryland Export Initiative.  The project is expected to assist 20 businesses with export assistance and that will lead to a $5 million in increased export sales by those firms. 

"This export assistance will make foreign markets more accessible for small businesses in Western Maryland, allowing them to grow our economy at home,” said Senator Cardin, a member of the Senate Finance Committee.  “Increasing small businesses overseas exports is critical for our nation’s economy and will create new job opportunities for Marylanders.”   

 

“This federal funding is all about jobs,” Senator Mikulski said. “Export assistance is a smart investment in Maryland’s small business – the engines that keep our economy growing. Expanding markets overseas for products made here at home creates jobs in America. That’s what I’m fighting for, and that’s what I will continue to fight for.”

The ARC grant will help Appalachian Maryland companies grow jobs by providing them with new overseas markets and increasing the value of goods and services exported from Western Maryland.  The goal is to help increase the number of small to medium-sized exporters in the region.  It will also reduce or eliminate fees typically incurred by small businesses when exhibiting overseas, and help connect Western Maryland companies with federal and state resources.    

The ARC grant will help Appalachian Maryland companies grow jobs by providing them with new overseas markets  and increasing the value of goods and services that are exported from Western Maryland. The goal is to help increase the number of small to medium-sized exporters in the region.  It will also reduce or eliminate fees typically incurred by small businesses when exhibiting overseas, and help connect Western Maryland companies with federal and state resources.    

In addition to the ARC funds, the State of Maryland will provide $85,250 and participating firms will provide $14,750, bringing the total cost of the project to $200,000.  This project is part of a special initiative funded by the ARC Co-chairs’ Committee that seeks to stimulate job growth and private investment through the promotion of international markets for the region’s service providers, manufacturers, and agricultural producers.      

 

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