Secretary of Commerce Gina Raimondo unveiled six new grant awards to establish or maintain high-quality export employment across the country in strategic industries.
The Market Development Cooperator Program, run by the International Trade Administration of the Department of Commerce, is providing more than $1.7 million in financial and technical support to promote exports of American goods and services abroad and lower trade barriers, 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,” Raimondo said in the release.
Raimondo said working with nonprofit industry groups is critical to reaching markets across the globe, the release reported. This work will serve the Commerce Department’s goal of strengthening the competitiveness of U.S. industry by generating exports.
“We look forward to adding the six new projects to our successful MDCP program, which has a strong history of creating multiplier effects and producing a significant return on investment for U.S. business,” Raimondo added, according to the release.
Each year, non-profit business associations compete 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.
