Commerce Department Awards $1.9 Million to Stimulate Exports, Create Jobs
September 20, 2011
(ITA)
Acting U.S. Commerce Secretary Rebecca Blank today announced $1.9 million in
financial assistance to support projects that increase U.S. exports, create jobs
and strengthen American global competitiveness. The funds will be awarded to
five non-profit industry organizations and are expected to generate $1.96
billion in U.S. exports in the next three years, ranging from attracting foreign
students and tourists to promoting clean truck technology and medical technology
exports.
“Through the partnerships created by these awards, we’ll help more U.S.
firms sell more of their goods and services to the 95 percent of the world’s
consumers who live outside our borders,” Blank said. “The increase in exports
that will result from these five new projects will create or support more than
10,000 U.S. jobs.”
The Commerce Department’s Market Development Cooperator Program (MDCP) awards
include financial and technical assistance from the International Trade
Administration (ITA) to support well-defined business plans aimed at increasing
exports and U.S. competitiveness within certain industries. An MDCP award
establishes a partnership between ITA and nonprofit industry groups to help
strengthen global competitiveness and create jobs through exports. These
cooperative agreements help to further President Obama’s National Export
Initiative, which aims to double U.S. exports by the end of 2014, supporting
several million U.S. jobs.
The five recipients of the 2011 Market Development Cooperator Program awards
are:
- California ETEC, Irvine, Calif. – $388,425
- CALSTART, Pasadena, Calif. – $300,271
- NEMA – Medical Imaging and Technology Alliance, Rosslyn, Va. – $207,140
- Specialty Equipment Market Association, Diamond Bar, Calif. – $500,000
- U.S. Travel Association, Washington, D.C. – $491,681
This year’s MDCP awards will be matched by a $4.4 million investment by the non-profit industry recipients, who pledged to pay a minimum of two-thirds of the project costs and to sustain the projects after the initial MDCP award period ends.
Since MDCP's inception in 1993, the program has issued 112 awards. In an average year, MDCP projects generate $229 million in U.S. exports. For more information about the Market Development Cooperator Program, please visit trade.gov/mdcp.
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