ICYMI: South Carolina Businesses And Lawmakers Say Ex-Im Bank Is Critical For SC Economy

With Republican presidential candidates in South Carolina today, we wanted to remind you that South Carolina businesses and prominent South Carolina lawmakers support the Export-Import (Ex-Im) Bank. Small and medium sized businesses in South Carolina rely on Ex-Im support to reach new markets, grow their firms, and support their workforces.

GE recently announced that it will have to move hundreds of U.S. manufacturing jobs abroad due to the lack of access to export credit financing, including jobs from South Carolina.

In South Carolina, Ex-Im supports:

• $2,669 million in export sales
• 72 companies
• 17,056 jobs

Please see below for further information on the Ex-Im Bank’s impact in South Carolina.

~Jared

South Carolina Governor Nikki Haley Calls Ex-Im Bank “Crucial” To Growth Of State’s Economy. “The Ex-Im Bank is a crucial tool that both small and large businesses use to compete fairly in the world market, increase their exports, stimulate job creation, and contribute to the growth of our states’ economies.” (Ex-Im Bank Governors’ Letter, 4/14/15)

Without Access To Ex-Im Bank Financing, GE Has To Move South Carolina Jobs Abroad. “General Electric Co. said Tuesday that it plans to put 400 jobs in France instead of at its power turbine plant in Greenville and two other U.S. locations because Congress didn’t re-authorize the Export-Import https://exportersforexim.org/files/2015/09/bank of the united states. ge said it needed to include export financing of the kind formerly provided by the ex-im bank in order to bid on billions of dollars’ worth of work to make power turbines and generators for various foreign countries, including indonesia.” (Rudolph Bell, “SC Loses GE Jobs To France, The State, 9/15/15)

Congress’s Inaction On Ex-Im Is Hurting Businesses Of All Sizes Across South Carolina States President Of South Carolina Chamber of Commerce. “Ted Pitts, president of the South Carolina Chamber of Commerce, said GE’s announcement ‘extends beyond GE to the many small businesses across South Carolina that work with GE and will also suffer as a result of more inaction from Washington.’ ‘Congress should stop stalling and take the vote to reauthorize the bank for the sake of American jobs and businesses,’ Pitts said.” (Rudolph Bell, “SC Loses GE Jobs To France, The State, 9/15/15)

South Carolina Senator Lindsey Graham Says Failing To Reauthorize Ex-Im Is A “Recipe For Losing Jobs.” “‘The sooner Congress reauthorizes the Export-Import https://exportersforexim.org/files/2015/09/bank and puts us back on a level playing field, the better it will be for workers in greenville and across our state,’ said graham, a republican running for president. ‘The United States should not unilaterally disarm, yet that is exactly what we are doing. This is a recipe for losing jobs.’” (Rudolph Bell, “SC Loses GE Jobs To France, The State, 9/15/15)

Ex-Im Keeps South Carolina Exporters Competitive According To Senator Graham. “‘It is a bank that makes money,’ he said, ‘and allows us to sell products made in South Carolina to the developing world in a competitive fashion.’” (Jackie Calmes, “Export-Import https://exportersforexim.org/files/2015/09/bank divides once-supportive republicans,” The New York Times, 6/17/15)

South Carolina Senator Tim Scott Spokesman Says Ex-Im Is Important To Keeping A Level Global Playing Field. “Scott spokesman Sean Conner said the Ex-Im Bank helps ‘level the playing field for South Carolina businesses and other businesses interested in exporting.’” (Rudolph Bell, “SC Loses GE Jobs To France, The State, 9/15/15)