February 04, 2010

(Washington, D.C.)-U.S. Senator Jeanne Shaheen applauded the Obama administration's new National Export Initiative, which was formally announced by Commerce Secretary Gary Locke today.  In his State of the Union speech, President Obama committed to doubling U.S. exports in the next five years, which he estimates could create two million new jobs.  Under the new National Export Initiative, the federal government will seek to provide U.S. firms greater access to export financing and support them in their efforts to sell their goods overseas.  Senator Shaheen has made export promotion one of her top priorities in her first year in the Senate. 

"I strongly support the Obama administration's focus on export promotion," said Shaheen.  "More U.S. exports abroad mean more jobs here at home, and I am committed to working with the President to make this new initiative a successful one."

New Hampshire exports reached a record all-time high of $3.7 billion in 2008. This represents an increase of over 28 percent from 2007 in which the previous record was held. This increase is also more than double that of most other states.

"The overwhelming majority of the world's customers are located well outside the borders of the United States, yet most American companies haven't been able to access these critical markets," added Shaheen.  "To create jobs and grow our economy, we need to help our businesses to widen their reach in the global marketplace." 

Last year, Shaheen spoke at the Export-Import Bank of the Unites States' "Exports Live!" event in Boston on the importance of expanding sales into foreign markets.  She also called for a study on the government's efforts to promote exporting for small businesses; held a Subcommittee on European Affairs hearing to explore the expansion of the trade relationship between the U.S. and Europe, inviting New Hampshire's own Warwick Mills Inc. to testify on the importance of exports to his business; and she has cosponsored legislation to strengthen SBA programs that assist small exporters.

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