ICYMI: Job Creators Nationwide Continue To Speak Out For Ex-Im Reauthorization
Job creators around the country say Congress’s inaction on Ex-Im reauthorization is hurting jobs and growth at their companies. Venkee Sharma, chief executive of a small, Canonsburg, Pennsylvania-based water purification business, said that losing Ex-Im “has the potential to take us out of growth mode as a company.”
The chief financial officer of Olney, Texas-based Air Tractor, David Ickert, said, “It’s nearly like the House [of Representatives] wants to export jobs now and not export American products, because that’s exactly the impact that will be felt.”
See below for additional commentary from U.S. small businesses demonstrating the impact the Ex-Im Bank’s lapse is having on job creators nationwide.
Without Ex-Im, Small Pennsylvania Company Could Be Taken “Out Of Growth Mode.” “Some oil and gas projects being built in the Middle East and Asia could mean $100 million in revenue and dozens more jobs for Aquatech. CEO Venkee Sharma is confident that the Canonsburg company could win that business to supply water purification equipment, but not without financial backing from U.S. Export-Import https://exportersforexim.org/files/2015/08/bank…’this has the potential to take us out of growth mode as a company,’ sharma said, referring to the bank’s uncertain future.” (Craig Fleisher, “Small Business Hangs On Fate Of Export-Import https://exportersforexim.org/files/2015/08/bank,” TribLive, 8/1/15)
Air Tractor Executive: Without Ex-Im, the House is Exporting U.S. Jobs, Not Products. “In summary, it’s nearly like the House [of Representatives] wants to export jobs now and not export American products, because that’s exactly the impact that will be felt.” (Jack Carney, “Tough Landing,” Newschannel6, 8/1/15)
Small Oregon Exporter: “Without The Export-Import https://exportersforexim.org/files/2015/08/bank, our business will suffer.” “Whereas Bob’s has exported its goods since 20-plus years, its export revenue has grown by 35 percent since it started working with the Export-Import https://exportersforexim.org/files/2015/08/bank in 2012. export sales account for 10 percent of bob’s annual revenue. ‘Without the Export-Import https://exportersforexim.org/files/2015/08/bank, our business will suffer because our customers demand credit terms and there are no private solutions available,’ winthrop said to obama and others. ‘Another problem this shut down will create if it becomes long term is that Bob’s Red Mill has been discussing adding an export packing line that will create 10 jobs. This production line will accommodate the many facets of label requirements. As you can imagine, keeping up with nutritional labels in 80 countries is challenging. As long as the fate of the bank is uncertain, we are not sure if we should proceed with our capital investment.’” (Andy Giegerich, “What A Bob Red’s Mill Exec Told President Obama About Exports And Oatmeal,” Portland Business Journal, 7/24/15)
California Small Businessman Asks Congress To Find Alternative Financing Sources In Absence Of Ex-Im Bank. “They complain that Boeing and other big companies, which receive the largest share of the total funds, use small exporters simply to provide a more sympathetic front. ‘Nobody uses me,’ countered Steven Wilburn, chief executive of FirmGreen Inc., a renewable energy company based in Newport Beach, Calif., with 11 employees. He said he, not Boeing, paid for his three trips to Washington to try to persuade Republicans to support the bank. ‘I’ve begged them,’ Mr. Wilburn said. ”If you have alternative sources of financing, please put them through to my doorstep.”” (Jackie Calmes, “Outlook For The Ex-Im Bank Dims As Congress Departs,” The New York Times, 7/29/15)