U.S. Sen. Claire McCaskill, D-Mo., visited Springfield this week in an effort to shore up support for reauthorization of the Export-Import Bank of the United States ahead of its scheduled expiration Sept. 30.
During a tour of Custom Metalcraft Inc., 2332 E. Division St., on Tuesday, the senator said Custom Metalcraft and several other Missouri companies have benefited from the bank program. Custom Metacraft and five other Springfield companies - 3D Corporate Solutions LLC, Executive Coach Builders Inc., International Division Inc., Paul Mueller Co. and Tuthill Corp. - have used the bank to help generate $49.1 million in international sales since 2007, according to Springfield Business Journal archives
. Over 90 Missouri companies have received financing through the Ex-Im Bank in Washington, D.C.
“The Export-Import Bank is one of the most important tools available to help Missouri companies create jobs and succeed in the increasingly competitive global market,” McCaskill said in a news release. “The Export-Import Bank helps Missouri companies like Custom Metalcraft sell their goods and services to customers across the globe, and supports jobs for thousands of Missourians.
"That’s why it’s critical that Congress take bipartisan action this fall to renew the Export-Import Bank’s authorization."
Custom Metalcraft's headquarters was a fitting location, given the stainless steel manufacturer uses the bank to help generate some $4 million annually in international sales, according to SBJ archives.
Without congressional intervention, the bank will expire Sept. 30 after eight decades in operations. According to ExIm.gov, in the previous fiscal year, the bank earned more than $1 billion above the cost of operations for U.S. taxpayers.[[In-content Ad]]