California Business Community Urges Congress
June 24, 2014
Contact:
Jayme LaFrance
Marketing Coordinator
jlafrance@hbcoc.com
Ph: 714-500-6104
FOR IMMEDIATE RELEASE:Jayme LaFrance
Marketing Coordinator
jlafrance@hbcoc.com
Ph: 714-500-6104
CALIFORNIA BUSINESS COMMUNITY URGES CONGRESS
Reauthorization of Export-Import Bank is Vital
Reauthorization of Export-Import Bank is Vital
Huntington Beach, CA, June 23, 2014 – The Huntington Beach Chamber of Commerce today joined with organizations from across the country in sending a letter urging Congress to swiftly reauthorize the Export-Import Bank (Ex-Im). The bank, which provides loans and loan guarantees when other financing is not available, will see its charter lapse on September 30 unless Congress acts. The letter, led by the U.S. Chamber of Commerce and National Association of Manufacturers, was signed by more than 800 chambers, companies and associations across the country, showing the overwhelming support for Ex-Im from American companies of every size, sector, and region.
“The benefits that the Export-Import Bank provides for businesses in California are vital for maintaining competitiveness and expanding opportunities for growth,” said Chamber President/CEO, Jerry Wheeler. “For these companies, especially small businesses, to be able to compete globally, they need Ex-Im’s help to reach foreign markets and customers. If Congress fails to reauthorize Ex-Im, American companies would be put at a disadvantage in global markets, resulting in lost sales and lost jobs. We are urging members of Congress to act quickly to support American jobs and reauthorize Ex-Im.”
As the letter states, last year Ex-Im supported $37 billion in exports that in turn sustained more than 200,000 American jobs at 3,400 companies. The Bank’s support is especially important to small and medium-sized businesses, which account for nearly 90 percent of the Bank’s transactions. More information on how Ex-Im benefits state and local economies is available here.
###
The Huntington Beach Chamber of Commerce is a membership based organization and the largest Chamber in the region. Founded over 100 years ago, the mission of the HBCOC is to provide programs, connectivity and advocacy that promote economic vitality for our members. For more information on the HBCOC, please visit www.hbchamber.com.