SHAHEEN POINTS TO EXPORTING AS A PATH TO ECONOMIC RECOVERY IN SALEM

Increased revenues will spur job creation in New Hampshire

March 31, 2010

(Salem, NH)-U.S. Senator Jeanne Shaheen today toured LNX Corporation in Salem and discussed the economic benefits of exporting.  Shaheen was joined by Lorraine Hariton, Special Representative for Commercial and Business Affairs at the U.S. Department of State, and representatives from LNX Corporation.

"LNX Corporation is a great example of a small company that sells their products overseas and is building their workforce here in New Hampshire," said Shaheen. "Exporting is a key way to grow the state's economy during these difficult times. Though there can be challenges for small business owners, there are resources available that will help them tap into new markets."

LNX Corporation is a designer and manufacturer of sophisticated radar and communications equipment.  The company has grown steadily since its founding in 2001, now employing 68 people.  Nearly half of its sales are in exports.

"LNX is honored by the visit of Senator Shaheen. This gives us a great opportunity to discuss our export activities and ways to expand our business internationally," said Lamberto Raffaelli, president and CEO of LNX Corporation.

Earlier in the day, Shaheen hosted the Granite State Export Forum in Manchester to help New Hampshire small businesses identify and access the resources available to help them explore export opportunities and expand into new markets.  New Hampshire trade officials report that export activity supports more than 40,000 jobs in New Hampshire. 

Since joining the Senate, Shaheen has cosponsored legislation to strengthen SBA programs that assist small exporters. Among other things, this legislation will improve access to capital by raising the loan limits and guarantees on the SBA export loan programs. Shaheen has cosponsored legislation to strengthen the Overseas Private Investment Corporation (OPIC) and ensure OPIC is dedicating resources to help small companies export. Shaheen also has cosponsored legislation to help businesses compete globally by expanding the scope of the Hollings Manufacturing Extension Partnership Program and the Technology Innovation Program to include projects that have potential in international markets and to enhance the resources of the U.S. Commercial Service.

Shaheen was the first New Hampshire Governor to lead a trade mission overseas. The four trade missions she led during her six years as Governor resulted in $500 million in projected sales for New Hampshire businesses. As Governor, Shaheen significantly increased the state's investment in the International Trade Resource Center, which offers New Hampshire companies one-stop shopping for a wide range of services to help them develop new markets for their products and services.

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