United States : International Trade Administration awards $300K to New Jersey Non-Profit to increase Environmental Technology Exports.
Acting U.S. Under Secretary of Commerce for International Trade Ken Hyatt today announced that Parsippany, New Jersey-based US-China Environmental Education Foundation (UCEEF) will receive $299,107 from the International Trade Administration's (ITA) Market Development Cooperator Program (MDCP). The award will help UCEEF to help U.S. manufacturers of environmental technology equipment to export to China. With the Federal resources, UCEEF aims to increase exports to China by $52 million during the next three years.
"With 96 percent of the world's consumers living outside of our borders, exports are a critical driver of the U.S. economy, supporting millions of U.S. jobs," Hyatt said. "UCEEF recognizes the positive impact exporting can have for their member organizations. MDCP awards to groups like UCEEF are part of President Obama's government-wide strategy to strengthen America's economy by increasing exports."
UCEEF will match the MDCP award with an investment of $907,280 of its own resources. Each MDCP award winner pledges at least two-thirds of the project costs and to sustain its project after the initial MDCP award period ends. The funded project will allow UCEEF to help more U.S. firms export more U.S. products and services by: 1) creating an internet platform to resolve questions about duties, local government support, trade documentation and payment requirements; 2) engaging U.S. firms through participation at trade shows in China; and 3) addressing standards and labeling issues.
Each MDCP award includes financial and technical assistance from ITA to support well-defined business plans aimed at strengthening an industry by increasing exports. MDCP partnerships between ITA and nonprofit industry groups create U.S. jobs through exports.
This year, five non-profit industry groups are receiving MDCP awards. In total, these projects are expected to generate or preserve more than $359 million in U.S. exports in the next three years in return for the one-time $1.3 million Federal investment.
Since the Market Development Cooperator Program's inception in 1993, ITA has granted 146 awards to 112 organizations in 32 states. The program has helped to generate more than $11 billion in exports. In an average year, MDCP projects generate $567 million in U.S. exports.
[c] 2016 Al Bawaba (Albawaba.com) Provided by SyndiGate Media Inc. ( Syndigate.info ).
|Printer friendly Cite/link Email Feedback|
|Date:||Sep 13, 2016|
|Previous Article:||United Kingdom : Making Maths Count final report.|
|Next Article:||United Kingdom : Scotland riding the wave of tidal innovation.|