New Video Highlights Consequences Of Ex-Im’s Lapse For North Carolina Manufacturers
WASHINGTON, DC – The Exporters for Ex-Im Coalition released a video today highlighting the negative consequences of the Export-Import (Ex-Im) Bank lapse for North Carolina manufacturers.
The video features stories from Flow Sciences Inc. in Wilmington, American Engineering Group in Charlotte, and Maverick Enterprises in Charlotte.
“Ex-Im Bank is an integral part of our financing picture. Thirty percent of our revenue is represented with export sales; I can’t keep all these people employed if I have a 30 percent whack in my revenue” said James Wind, CFO of Flow Sciences Inc., a small business manufacturer in Wilmington.
“Some of the transactions we’re looking at where Ex-Im could help us are upwards of a half a million dollars” said Tod Skinner, President of American Engineering Group in Charlotte. “Getting an order like that because of Ex-Im would allow us to add one, two, three more jobs than we would have otherwise.” American Engineering Group (AEG) manufactures renewable energy and water purification products bound for developing countries.
“Ex-Im is vital to a small business that does business overseas” said Leslie Harty, President of Maverick Enterprises in Charlotte. “I do not know how I will able to do business overseas without Ex-Im. If I don’t have that, it could put me out of business.”
Ex-Im has supported over $2.9 billion in export sales at 200 companies since 2007 in North Carolina alone. Last week, a majority of members of the U.S. House of Representatives signed a discharge petition to bring the Ex-Im reauthorization bill to a vote on the House floor.North Carolina Representatives Alma Adams, David Price, Renee Ellmers and G.K. Butterfield were among the 218 signers of the discharge petition. Congress allowed Ex-Im’s charter to lapse on June 30, 2015.