U.S. Secretary of Commerce Penny Pritzker 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 seven non-profit industry organizations and are expected to generate $426 million 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 will help U.S. firms sell more of their goods and services to consumers living outside our borders,” Secretary Pritzker said. “Supporting American entrepreneurs as they increase exports is an important part of the work of the Department of Commerce, and leads to job growth and expanded economic opportunity.” 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 seven recipients of the 2013 Market Development Cooperator Program awards are: * American Health Information Management Association – Chicago – $300,000 * Capital Region USA, Inc. – Rehoboth Beach, Del. – $293,949 * Center for International Trade Development at Long Beach City College – Long Beach, Calif. – $300,000 * CenterState Corporation for Economic Opportunity – Syracuse, N.Y. – $225,002 * International Association of Plumbing and Mechanical Officials – Ontario, Calif. – $296,062 * National Electrical Manufacturers Association – Rosslyn, Va. – $195,840 * Utilities Telecom Council – Washington, D.C. – $299,531 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 128 awards. In an average year, MDCP projects generate $258 million in U.S. exports. For more information about the Market Development Cooperator Program, please visit www.trade.gov/mdcp.
Source: U.S. Department of Commerce
