Six new grant awards announced by the Department of Commerce were designed to establish or maintain high-quality export jobs across the country in strategic industries.
More than $1.7 million in financial and technical assistance is being given through the Market Development Cooperator Program (MDCP), according to a Sept. 21 news release.
“The U.S. Department of Commerce is excited to announce these six new awards that will help strengthen our economy, support our workforce and promote Made in America goods and services,” Secretary of Commerce Gina Raimondo said in the release.
The International Trade Administration of the Department of Commerce runs the MDCP to promote exports of American goods and services abroad and lower barriers to their import, as well as to create and keep high-quality jobs, the release reported.
Raimondo said the key to reaching markets across the globe to generate exports depends on working with nonprofit industry groups, according to the release. These exports will strengthen U.S. industry competitiveness.
A significant return on investment has been realized in the history of the MDCP program, which creates multiplier effects, she said, according to the release.
Non-profit business associations compete annually for federal financing of up to $300,000 for creative and long-lasting MDCP programs that aid American companies in growing their exports and creating or maintaining jobs, the release reported. The six MDCP recipients for 2022 will work with ITRA staff members around the globe and donate at least $3.4 million of their own funds to remove trade restrictions and support American exports in their respective sectors.
