Businesses Highlight Impact of GOP Shutting Down Ex-Im Bank as Shutdown Looms
With only 1 legislative day left until they absurdly shut down the Ex-Im Bank, businesses across the country continue to underscore the terrible circumstances if GOP Members fail to reauthorize it:
OHIO – Journal News: Re-authorization of Ex-Im Bank may affect local businesses
Butler County business giants…are among over 300 Ohio businesses who may be impacted if Congress declines to reauthorize the Export-Import Bank.
CALIFORNIA – The Bakersfield Californian: Congress needs to wake up: Ex-Im Bank plays a key role
Without Ex-Im, we could not do large projects overseas, period…To be clear, my advocacy for the Bank is on behalf of the roughly 75 employees whose livelihood depends on my companies' ability to export.
It may now be time for the voters of Bakersfield to re-consider their choice of congressman.
TEXAS – Houston Chronicle: With much to lose, Texans lead fight against export bank in Congress
A federally-chartered bank that has helped hundreds of Texas companies finance $30 billion in exports faces elimination…
No state has more skin in the fight than Texas, which accounts for a fifth of the nation's exports. More than 1,600 Texas companies, far more than any other state, have lined up for the bank's help since 2007 to help secure loans and credits for foreign buyers of American goods.
"It is absolutely baffling that our members of Congress have chosen ideology over jobs," said Tony Bennett, president of the Texas Association of Manufacturers, part of a nationwide coalition of business groups trying to save the bank. "Their actions will deliberately harm Texas."
KENTUCKY – The Courier-Journal: Kentucky needs Ex-Im Bank renewed
…The Bluegrass State sends a staggering number of commodities abroad. Last year alone, Kentucky produced a record-breaking $27.5 billion in exports – a 9 percent increase from 2013.
For many Kentucky businesses, partnership with the Ex-Im Bank has been essential for international growth…If Congress doesn't vote to reauthorize the Ex-Im Bank soon, it will leave American companies, entrepreneurs and workers at a major competitive disadvantage. And, though the game is global, the repercussions will be felt right here at home in Kentucky.
ALABAMA – AL.com: Alabama aerospace leadership needs exports
Aerospace played a decisive role in making America the world's dominant economic and military power during the 20th Century.
…Ex-Im is critical to U.S. aerospace companies in particular because virtually all of our foreign competitors…have access to official export credit provided by their own governments. Ending the U.S. Ex-Im bank thus amounts to unilateral disarmament in the increasingly fierce contest for global market share.
…I don't understand why some in Congress would help their aim by getting rid of the Export-Import Bank…If Ex-Im shuts down it will be a significant impact to smaller aerospace companies like mine along with thousands of others in other sectors of the U.S. economy.
ARIZONA – KJZZ 91.5: Arizona Exporters Worry About Jobs, Business If Ex-Im Bank Expires
David Zuckerman's Phoenix-based company makes that kind of product that most businesses don't even know they need…Zuckerman said 78 percent of ServerLift's growth over the last four years is from international sales, which is now the biggest part — almost 60 percent — of his business.
The reason? The Export-Import Bank, or Ex-Im Bank for short.
"We wouldn't have gotten this far this fast, no. There's no way," said Zuckerman, vice president of ServerLift. "We couldn't have gone international the way we did."
"It becomes also a potential loss of business to us, which means that that would impact our ability to employ people here," Merrill said. "So, there's a domino effect on all of this."
INDIANA – NWI.com: Indiana needs Ex-Im Bank's export power
Fort Wayne's WaterFurnace International is a small-business success story. The company manufactures heating and cooling systems for home and commercial use. Since 2004, WaterFurnace has enjoyed export sales of $6.4 million and now employs 250 people.
...The Ex-Im Bank boosts their confidence, and in so doing boosts U.S. exports and the American economy.
It's especially important for Indiana's lawmakers to support long-term reauthorization. Here in Indiana, the Ex-Im Bank has helped to support about $1.9 billion in exports and 136 companies from 2007 to the present. Almost 90 percent of the firms the agency has helped are small businesses — the backbone of Indiana's highly diversified economy.
NEVADA – Reno Gazette-Journal: Nevada needs Congress to act on Ex-Im Bank
Recent years have proven to be tough times for Nevada. Our state was hit hard during the Great Recession, and our recovery has struggled to keep pace with the progress seen around the rest of the country…
Our manufacturing facility in Minden is a prime example of why Ex-Im is so important to Nevada workers and businesses. From accelerometers to portable diagnostic devices, to full-rack based systems and software, our more than 700 employees produce advanced sensors and instrumentation for state-of-the-art machinery…
If the Ex-Im Bank is not renewed, our international sales and the jobs they support could be thrown into serious risk. And we are not alone – more than 30 companies across Nevada rely on the Ex-Im Bank, representing nearly $170 million in export sales. For the U.S. as a whole, those numbers jump to an eye-popping 1.5 million jobs and more than $230 billion in exports supported by the Bank since 2007.
NEW HAMPSHIRE – Union Leader: For this NH business, the Export-Import Bank is critical
The Ex-Im Bank has provided our banking partners with the security to back our critical, highly competitive work, and the business assets generated…
Ex-Im Bank is critical to the incubation of U.S. competition in the global marketplace for small business America, and for the people whose jobs depend on this work. The Ex-Im Bank fosters the repatriation of American profits earned aboard, from which taxes are paid into the U.S. Treasury and value is added to the American taxpayers' investment.
NEW JERSEY – NorthJersey.com: North Jersey businesses say loss of Export-Import bank will cost them
An effort to kill off a little-known federal agency that insures loans to foreign buyers of American-made goods would have a direct, detrimental impact on hundreds of New Jersey companies…
…the Ex-Im Bank has helped 245 New Jersey businesses, mostly small companies, sell more than $5 billion of goods worldwide.
NEW YORK – Poughkeepsie Journal: The Export-Import Bank is critical for New York jobs
…more than 270 New York businesses have relied on Ex-Im to finance export sales.
Between 2007 and 2014, the bank provided $7 billion in financing for 325 businesses in New York state, representing nearly 65,000 jobs.
Without the bank, our companies would be at an even worse competitive disadvantage.
NORTH CAROLINA – The Times News: Six Million Dollar Plan: GE shows off Mebane site renovations
Bob Gilligan, CEO of GE Energy Management, said GE and other North Carolina manufacturers rely heavily on exports, and asked for support in the congressional debate over the future of the Export-Import Bank of the United States, a federal agency offering American exporters services like loan guarantees and insurance. It is also targeted for phasing out by some in Congress.
"GE, our suppliers and more than 200 North Carolina companies depend on the EXIM Bank to help sell our goods that we make here to customers overseas," Gilligan said. "The EXIM Bank supports more than 18,000 North Carolina jobs in all, at no cost to the taxpayers."
PENNSYLVANIA – Pittsburgh Business Times: Five things to know today, and why Westinghouse wants Ex-Im Bank renewed
Westinghouse CEO urges Ex-Im Bank to stay open
Westinghouse Electric Co. CEO Danny Roderick is taking center stage in the battle to save the Export-Import Bank of the United States from disappearing.
…He and others said that the end of the bank, which finances international deals for American companies, would be bad news for American businesses and American workers.
SOUTH CAROLINA – The Post and Courier: Congress should reauthorize the Ex-Im Bank
The Ex-Im helps to support more than 17,000 jobs in our state through 72 different companies. In the 1st and 6th congressional districts, Ex-Im has supported 16 companies and more than 12,600 jobs.
At least 59 other countries have similar export credit agencies. If Congress eliminates Ex-Im, it will only be hurting American businesses by taking away an option that helps them compete globally.
WASHINGTON – The Seattle Times: Letting Ex-Im Bank die would kill jobs, not crony capitalism
Washington state has an enormous amount of skin in the game…The agency has helped a total 234 companies here since 2007.
Ex-Im provides loans and guarantees to help close trade deals that wouldn't otherwise happen.