ICYMI: Stories Nationwide Highlight Jobs Impact Of Ex-Im Lapse
Over the weekend, editorial boards, CEOs, and job creators called for reauthorization of the Export-Import Bank in newspapers across the United States. Below, find highlights of pieces from Seattle, WA, Des Moines, IA, Chicago, IL, Toledo, OH, and Garden City, KS.
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Seattle Times Editorial Board Highlights Ex-Im’s Jobs Impact On Washington State. “The Ex-Im Bank…has proved an effective financing and economic development tool. It has provided credit and loan guarantees to foreign companies that buy American exports since 1934. Misguided lawmakers have blocked Congress from voting on reauthorization even though the measure has enough support to pass. This political grandstanding led to the bank’s charter expiring June 30.” (Seattle Times Editorial Board, “Congress Must Reauthorize Ex-Im Bank To Retain Wash. State’s Business,” Seattle Times, 8/16/15)
Small Businesses In Illinois Losing Projects And Sales Without Ex-Im Financing. “Northbrook-based Digital Check, a maker of check scanning equipment, projects that it will lose about $500,000 in sales by the end of this month — an amount large enough to cause it to suspend a scanner leasing service. Mount Prospect-based Weldy Lamont Associates, an engineering firm, said it is in danger of losing or delaying a potential multimillion-dollar project to install solar electric panels to supply power to thousands of rural villages in Senegal. Multifilm Packaging, an Elgin-based maker of packaging materials for the confectionary industry, says it has temporarily stopped looking for new business in Latin America, its key export market.” (David Herbling, “Illinois Exporters Upset As Ex-Im Bank Suspends Lending,” Chicago Tribune, 8/14/15)
Iowa Business Leaders Argue That Failure To Reauthorize Ex-Im Will Lead To “Lost Sales And Jobs.” “We strongly believe that Congress should act to reauthorize the Ex-Im Bank for the good of commerce in our country and for the success of businesses here in Iowa. It is no secret that trade is a critically important component of the Iowa economy. In 2014, Iowa exported more than $15.1 billion in manufactured goods and value-added agricultural products to 192 countries. A total of 3,420 companies exported from Iowa locations in 2013. Of those, 2,845 (83.2 percent) were small and medium-size enterprises with fewer than 500 employees. Ex-Im Bank has played an important role in driving these numbers.” (Jay Beyers, Mary Andringa, and Mike Ralston, “Ex-Im Bank Reauthorization Important For Iowa Exporters,” The Des Moines Register, 8/16/15)
“The Stakes Are High For Ohio Employers” In Ex-Im Fight. In the Tristate area, the Ex-Im Bank ‘promotes tens of thousands of local jobs,’ David Joyce, GE Aviation president and chief executive, wrote in a recent op-ed. ‘We have to be able to say (to the customer) there’s a financial vehicle for you available before you have a discussion,’ Kennedy said. ‘For us over the years, that’s been really, really important.’” (“Expired Export Bank Charter Concerns Some Of Ohio’s Largest Exporter,” Toledo Blade, 8/17/15)
In Kansas, Ex-Im Lapse Means “Less Work And Fewer Jobs For Local Businesses.” “In Kansas, working to improve export markets is essential to growing the state’s economy. Whether it’s selling more wheat, more Learjets or more liquefied natural gas, Kansans will benefit from expanding the markets for goods and services from the state. So it should be a no-brainer that the state’s congressional delegation support initiatives and programs that further that aim. Especially when the programs and initiatives have no cost to taxpayers.” (Julie Doll, “Ex-Im Bank Warrants Support,” The Garden City Telegram, 8/16/15)