Job Creators In Missouri Hurt After 100 Days Without Ex-Im
Today marks 100 days since Congress allowed the Export-Import (Ex-Im) Bank to expire. Ex-Im’s lapse has made it more difficult for businesses around the country to compete in the international arena, putting thousands of U.S. jobs in jeopardy. Many of these jobs are in the state of Missouri, where the Ex-Im Bank has played a key role in helping companies seize opportunities to grow.
Since 2007 in Missouri, Ex-Im has supported:
- $1.47 billion in export sales
- 125 companies
- 9,390 jobs
Please see below for what businesses across the state have been saying about Ex-Im and what a continued lapse means for them.
Al Moresi, Controller, Semi-Bulk Systems (St. Louis, MO)
“It Will Be Problematic If They Never Approve The Ex-Im Bank Again.” “Al Moresi, Semi-Bulk’s controller, said the company hasn’t had any export transactions since July. ‘It will be problematic if they never approve the Ex-Im Bank again, because we would have to go to somebody who charges higher fees,’ he said.” (David Nicklaus, “Loss Of Ex-Im Bank Is Starting To Cost U.S. Jobs,” St. Louis Post Dispatch, 10/4/15)
Dan Korte, CEO, LMI Aerospace (St. Charles, MO)
Ex-Im Lapse Has Consequences Throughout Supply Chain. “‘If Boeing does start to lose aircraft sales, we start to lose business,’ said Dan Korte, chief executive of LMI Aerospace in St. Charles. LMI supplies parts for Boeing airliners, and its 2,000 employees are part of the U.S. aerospace industry’s long and complex supply chain. ‘We are only seeing the beginning of the issues related to this,’ Korte said.” (David Nicklaus, “Loss Of Ex-Im Bank Is Starting To Cost U.S. Jobs,” St. Louis Post Dispatch, 10/4/15)
Thom Wellington, Owner, Wellington Environmental (St. Louis, MO)
Manufacturing Jobs In Missouri Can Be Expanded With Help Of Ex-Im. “What most don’t understand is there are thousands of small companies like ours that count on business from these large manufacturers across the entire country. What about us? Consider the jobs that would be generated if we can convince Boeing to manufacture more commercial aircraft parts right here in north St. Louis. These are not low-wage jobs. The entire region will benefit: more home sales, car sales, restaurant traffic, and usage of service providers like ourselves that follow manufacturing jobs.” (Thom and Debbie Wellington, “Export-Import https://exportersforexim.org/files/2015/10/bank benefits region, puts money in the treasury,” St. Louis Dispatch, 3/24/15)