Ex-Im Bank Opens New Regional Office in Detroit

Sen. Stabenow, Gov. Snyder, and Congressmen Dingell and Peters attend

DETROIT, Jan. 28, 2013 /PRNewswire-USNewswire/ -- The Export-Import Bank of the United States (Ex-Im Bank) today (Jan. 28, 2013)  announced the opening of a new regional export finance center in Detroit, Mich. The announcement, which was attended today by Ex-Im Bank Chairman and President Fred P. Hochberg, Senator Debbie Stabenow, Governor Rick Snyder, Congressmen John D. Dingell and Gary Peters, and Chamber President and CEO Sandy Baruah occurred in conjunction with the Bank's Global Access forum to promote small-business exports. More than 100 local small business exporters attended and received advice on engaging foreign markets and using Ex-Im Bank products.

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This is the latest opening of four planned regional export finance centers by Ex-Im Bank in its effort to assist local businesses improve their export sales and create jobs. The new regional office is located at the U.S. Export Assistance Center in downtown Detroit and will provide enhanced access to Ex-Im Bank services. It will also assist local businesses in the region to realize export sales opportunities abroad. The Bank launched its first regional center in Minneapolis, Minn., and opened similar centers in Seattle, Wash. and Atlanta, Ga.

"This new office will help ensure that Detroit businesses have greater access to Ex-Im Bank products and services," said Ex-Im Bank Chairman and President Fred P. Hochberg. "Ex-Im Bank authorized more than $500 million to Michigan businesses in FY'12 and we want to do even more. In order to compete globally, American companies need to expand their reach and enter more international markets. This new office will help Michigan exporters do exactly that."

"More Michigan exports mean more Michigan jobs," said Senator Stabenow. "Metro Detroit is already our country's fourth largest exporting region and busiest port. The opening of the new Ex-Im office here in Detroit will help even more Michigan small businesses access new markets, which will strengthen our economy and create new jobs."

"Export sales offer extraordinary opportunities for Michigan companies to grow and create new jobs," Snyder said. "We thank Export-Import Bank for its decision to locate an export finance center in Detroit and for its continued commitment to helping Michigan businesses expand on a global level."

"The location and function of this office will directly benefit businesses throughout Southeast Michigan and across our state, as we work to give each and every company the tools they need to compete globally and prosper," said Congressman Dingell. "I commend the Export-Import Bank for their work to promote the export of American goods and services across the globe, and I look forward to working closely with the Detroit office to help our local businesses grow and do all we can, together, to protect and create good Michigan jobs."

"To continue growing and creating new jobs in our community, it's critical for small businesses to explore new opportunities to export their products," said Congressman Peters. "By opening a new Ex-Im Bank regional export finance center right here in Detroit, we'll help our local entrepreneurs foster new job-creating relationships to grow their business."

"The presence of the new U.S. Patent and Trademark Office and today's announcement of the opening of the Ex-IM Bank's regional office in Detroit highlights Michigan's central role in the global marketplace. This further reinforces the fact that our region and state continue to drive innovation sought after around the world," said Chamber President and CEO Sandy K. Baruah.

Ex-Im Bank's Global Access program is supported by a wide variety of business and financial and government partners, including the U.S. Chamber of Commerce, the National Association of Manufacturers  (NAM)  and  the  Bank's  60-plus city/state partners  located throughout the U.S. The Bank has held more than 40 Global Access forums around the country.

About Ex-Im Bank

Ex-Im Bank is an independent federal agency that helps create and maintain U.S. jobs by filling gaps in private export financing at no cost to American taxpayers. In the past five years (from Fiscal Year 2008), Ex-Im Bank has earned for U.S. taxpayers nearly $1.6 billion above the cost of operations. The Bank provides a variety of financing mechanisms, including working capital guarantees, export-credit insurance and financing to help foreign buyers purchase U.S. goods and services.

Ex-Im Bank approved nearly $35.8 billion in total authorizations in FY 2012 – an all-time Ex-Im record.  Ex-Im Bank's total authorizations are supporting an estimated $50 billion in U.S. export sales and approximately 255,000 American jobs. For more information, visit www.exim.gov/.

SOURCE Export-Import Bank of the United States