Connecticut Exporters Get Some Good News

Connecticut companies that export products to different parts of the world or those that are currently looking into exporting to foreign markets, should know that Governor Malloy has announced that the Small Business Administration (SBA) has awarded a $546,822 grant to Connecticut to help increase state exports and the number of small businesses that export.

“Connecticut has a diverse industrial base and an innovative and highly productive workforce that is already exporting its products around the world. But there is potential to grow,” said Governor Malloy in a press release. “As exports are an engine of growth, I believe this new program and the resources it provides will create economic optimism by helping even more Connecticut companies capitalize on their products, expand their markets, and increase their value in the highly competitive global marketplace.”

The SBA created the State Trade and Export Promotion (STEP) pilot grant initiative earlier this year to provide grants to state export offices over the next three years. The program, authorized by the Small Business Jobs Act of 2010, is aimed at increasing the number of small businesses that want to export and increasing the value of exports for those small businesses that currently export.

The $546,822 represents year one of the three-year grant. States must apply each fiscal year for their annual allotment. Connecticut’s Department of Economic and Community Development (DECD) will administer the program and direct funds toward international business development opportunities and technical assistance programs.

So, if your business currently exports or is looking to expand its customer base and want to find out more about this program and how you can apply for export assistance, you should email Laura Jaworski in DECD’s Office of International and Domestic Affairs at laura.jaworski@ct.gov.