WV Business Owners Learn to Tap Into Global Access - Beckley, Bluefield & Lewisburg News, Weather, Sports

WV Business Owners Learn to Tap Into Global Access

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Sen. Joe Manchin and Fred Hochberg, Ex-Im Bank president Sen. Joe Manchin and Fred Hochberg, Ex-Im Bank president
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CHARLESTON, WV -

Many West Virginia business owners – large, medium and small – took advantage of an opportunity to learn more about tapping into a global economy June 16 at the Culture Center in Charleston.

The "Global Access Exporter Forum" featured Fred. P. Hochberg, chairman and president of Export-Import Bank of the U.S., often referred to as Ex-Im Bank.

“Ninety-five percent of the world’s customers are outside of the United States,” Hochberg pointed out. “We can be the No. 1 global export in the world. There’s no reason we can’t do that.”

Ex-Im Bank was touted as a resource that could help solves many issues and problems that West Virginia business owners should be utilizing in begin exporting, or expanding upon one’s existing export side. It supports business deals by financing the sale for overseas company, so the U.S. business receives payment upfront.

Ex-Im Bank is referred to as “The Official Export Credit agency of the U.S. Government.”

U.S. Sen. Joe Manchin (D-W.Va.) shared his enthusiasm for exporting West Virginia goods.

“I asked (Hochberg) to come to West Virginia to help us create more jobs,” he said. “We need to tap into the overseas market to support jobs in West Virginia.

“We have to look at every angle to increase West Virginia businesses.”

According to its officials, Ex-Im Bank supported 1.2 million U.S. jobs since 2009, including 205,000 in 2013 alone. It also generated more than $1 billion for U.S in 2013.

In 2013, Ex-Im Bank also supported $37.4 billion of export sales and over $27.3 billion in export financing – all at “no cost to the U.S. taxpayer.”

More information can be found at exim.gov