The U.S. Small Business Administration awarded Missouri a $634,134 grant to increase statewide the number of small businesses exporting their goods.
Funded through the State Trade and Export Promotion program, the grant is earmarked for export programs that assist eligible small businesses, according to a news release.
“With programs like STEP, more and more Missouri businesses are able to start connecting with new customers and get their goods on shelves around the world,” Gov. Jay Nixon said in the release. “When we increase the demand for Missouri-made goods, we are strengthening our manufacturing sector and creating more jobs for Missouri families.”
With the $599,999 in STEP funding Missouri received last year, 77 small businesses underwent export training, connected with new international clients and participated in trade activities promoting Missouri-made goods. In 2012, when the state received $1 million in STEP funding, the program helped 155 new-to-market Missouri businesses participate in export activities. The funding resulted in $26.4 million in export transactions, 155 jobs and the retention of 670 employees.
Nixon said the latest funding would boost trade to the Middle East and other regions, according to the release.
Through the second quarter this year, Missouri exports totaled $7.2 billion, up $406 million compared with the same period of 2015. Leading the pack was transportation equipment exports at $2.5 billion.
