State Lands Federal Grant to Boost Exports

Posted: Updated:
(Provided Photo/Indiana Department of Labor) (Provided Photo/Indiana Department of Labor)
INDIANAPOLIS -

The U.S. Small Business Administration has awarded the state of Indiana a nearly $500,000 grant to develop and expand export-related activities among Hoosier small businesses. The Indiana Economic Development Corp. says the State Trade and Export Promotion (STEP) grant also aims to open up new markets for Hoosier-made goods around the globe.

The IEDC says eligible small businesses may apply for reimbursements of export-related activities, including participating in international trade missions, foreign trade shows and export educational programs. Governor Eric Holcomb says the grant will help further the growth of small businesses in Indiana.

The grant is being matched by the IEDC to the tune of $165,000, bringing the total amount of funding available to small businesses to $660,000.

"We are excited that the IEDC has succeeded in bringing STEP funding back to the state of Indiana," Stacey Poynter, director of the SBA Indiana District, said in a news release. "Programs and funding created through the STEP award and SBA’s other export resources, including SBA-backed loans and local U.S. Export Assistance Centers, can open doors for small businesses to explore revenue streams they never dreamed existed abroad."

The IEDC says the state's STEP grant complements other efforts currently underway to boost exports among Hoosier companies. Those efforts include the Export Indiana Fellowship, which helps small businesses create ready-to-export business plans. The program is managed by the Indiana Small Business Development Center, in conjunction with the Purdue University Krannert School of Management and The International Center in Indianapolis.

The STEP program is managed by the SBA's Office of International Trade and has awarded $157 million in grants to small businesses throughout the country to date. The IEDC says more information about how Hoosier small businesses can apply for funding will be made available in the coming months.

  • Perspectives

    • (photo courtesy of Conexus)

      Getting the Word Out About Manufacturing & Logistics

      As the epicenter of the nation’s advanced manufacturing and logistics industries, Indiana has a compelling story to tell about how Hoosier companies make and move the goods people depend on every day. Our goal is to ensure everyone hears these stories – many of which share a common theme focused on cutting-edge technologies that are transforming the way products are made and moved around the world and the people who use them. Conexus Indiana launched an...

    More

Subscribe

Name:
Company Name:
Email:
Confirm Email:
HTML
INside Edge
Morning Briefing
BigWigs & New Gigs
Life Sciences Indiana
Indiana Connections
INPower
Subscribe
Unsubscribe

Events



  • Most Popular Stories

    • (photo courtesy of The Times of Northwest Indiana)

      Historic Hospital to be Torn Down in Gary

      A building that once represented the racial divide in the city of Gary, but long provided health care to the African American community, will soon fall to a wrecking ball. The city says it intends to raze the long-abandoned St. John’s Hospital. 

    • Parkview Heart Institute is part of the Parkview Health System

      Most Wired Hospitals in Indiana Ranked

      A national association of healthcare information executives has once again honored Fort Wayne-based Parkview Health for its commitment to using advanced technologies in their clinical and business operations. The College of Healthcare Information Management Executives says Parkview is ranked in the 97th percentile of organizations surveyed for the program, earning a “Most Wired” distinction. 

    • (photo courtesy of The Times of Northwest Indiana)

      Valpo Approves Plan to Level Mansion, Build New Homes

      The property where an aged, Victorian-era, mansion in Valparaiso currently stands will become the site of 15 new homes, described as “upscale.” The Valparaiso Board of Zoning Appeals approved the variances needed for Downtown Valparaiso Partners LLC to proceed with the project, according to our partners at The Times of Northwest Indiana. 

    • The Honda Greensburg plant opened in 2008.

      Honda to Invest $4M, Add Jobs at Greensburg Plant

      The American Honda Motor Co. continues to invest in its Greensburg, Indiana plant as it has announced the factory will be producing the company’s first electrified sport utility vehicle in the U.S. The company says it will invest more than $4 million and add 34 new jobs in the plant to support production of the CR-V Hybrid.  

    • Eleven Fifty was previously headquartered at Launch Fishers.

      Eleven Fifty to Cut Ribbon on New Location

      Eleven Fifty Academy will cut the ribbon on its new downtown location September 23. The nonprofit coding academy says it will host a grand opening ceremony November 6.