SHAHEEN, HASSAN ANNOUNCE GRANT TO STATE OF NEW HAMPSHIRE ECONOMIC DEVELOPMENT OFFICE TO BOOST NEW HAMPSHIRE SMALL BUSINESS EXPORTS

Program will help New Hampshire small businesses reach new markets, expand trade opportunities

September 03, 2014

U.S. Senator Jeanne Shaheen (D-NH) and New Hampshire Governor Maggie Hassan today announced the New Hampshire Department of Resources and Economic Development (DRED) as the recipient of a $159,725 grant through the third round of the State Trade Export Promotion (STEP) grant program. The STEP program, which Shaheen helped create, is an export initiative that helps states assist small businesses to enter and succeed in the international marketplace. 

“Increasing exports is a common-sense way to strengthen our economy and create jobs right here in New Hampshire,” Senator Shaheen said. “Exporting is a tremendous opportunity for small businesses and the STEP grant program has a proven record of success. Today’s announcement is great news for New Hampshire jobs and the economy.”

“New Hampshire’s small businesses are leaders in manufacturing high-quality, competitive products that help spur economic development and job creation across the state,” Governor Hassan said. “The STEP program has returned millions in export sales to New Hampshire businesses over the past two years, and today’s exciting announcement will help continue that success and strengthen our efforts to revitalize international trade and keep our economy moving in the right direction.”

Shaheen and Hassan have both consistently worked to aid small companies in reaching customers outside of New Hampshire and expand export opportunities. With the receipt of the STEP grant, New Hampshire DRED will administer programs through a public-private partnership with the Granite State District Export Council and the private sector New Hampshire Export Expansion Fund. The grant will help small businesses in New Hampshire prepare for new markets, access export financing and attend trade missions as well overcome obstacles that stand in the way of accessing foreign markets, such as a lack of expertise or resources.

The STEP program has a demonstrated track record of helping small businesses reach new markets. In FY 2012, recipients of grants reported a return on investments of more than 19-1.