U.S. Department of Commerce Invests $1 Million to Spur Export Activities for Small and Medium Businesses in the Greater Philadelphia Region
Press Release: U.S. Economic Development Administration
Contact: John Atwood
WASHINGTON – U.S. Secretary of Commerce Wilbur Ross today announced that the Department’s Economic Development Administration (EDA) is awarding a $1 million grant to the World Trade Center of Greater Philadelphia, Inc. (Center), of Philadelphia, Pennsylvania, to support the implementation of a multi-partner Greater Philadelphia Metro Export plan to increase export participation among small-and-medium sized businesses.
“The Trump Administration is committed to supporting local businesses which have suffered from unfair trade in the past,” said Secretary of Commerce Wilbur Ross. “I look forward to seeing how this plan will help companies throughout the region expand as well as increase exports.”
The World Trade Center of Greater Philadelphia, Inc. will focus on increasing export activities from various sectors including health sciences, education, trade counseling, and other professional services. The Center estimates that they will directly assist 200 businesses, hold 30 export events, and leverage over $200 million in new exports over the three-year award term. In 2010, EDA awarded a $1 million grant to the World Trade Center of Greater Philadelphia, Inc., to provide export assistance to energy and technology businesses throughout the region.
About the U.S. Economic Development Administration (www.eda.gov)
The mission of the U.S. Economic Development Adminisration (EDA) is to lead the federal economic development agenda by promoting competitiveness and preparing the nation's regions for growth and success in the worldwide economy. An agency within the U.S. Department of Commerce, EDA makes investments in economically distressed communities in order to create jobs for U.S. workers, promote American innovation, and accelerate long-term sustainable economic growth.