Binghamton, NY – U.S. Senator Kirsten Gillibrand, a member of President Obama’s Export Council, and Fred P. Hochberg, the chairman and president of the Export-Import (EXIM) Bank of the United States, today convened a roundtable conversation at McIntosh Laboratory, Inc. to promote the exporting potential of businesses in Binghamton and the Southern Tier.
“Our global economy is more connected now than it’s ever been, and competition can come from anywhere in the world,” said Senator Gillibrand. “We need to make sure that Binghamton’s businesses have the resources and support they need to stay competitive. The Export-Import Bank can give Binghamton’s businesses a strong head start when they want to sell their products to consumers in other countries. I’m very pleased that Fred Hochberg, the head of the Export-Import Bank, joined me in Binghamton to meet with our local business and economic development leaders and help connect them to financing opportunities.”
“New York is one of the most export-driven states in the nation. EXIM Bank is a tool for New York small business exporters to reduce risk and unleash opportunity to grow their businesses abroad while supporting well-paying jobs here in the state,” said Fred P. Hochberg, Chairman and President of EXIM Bank. “Senator Gillibrand’s ongoing commitment to the small businesses of New York, is both admirable and needed. She relentlessly advocates for them to have access to all the tools they need to be globally competitive exporters.”
“McIntosh is manufactured in Binghamton, NY and approximately 50% of our business comes from export sales,” said Charlie Randall, President of McIntosh Laboratory. “The Export-Import Bank is instrumental in helping us grow that portion of our business, allowing us to maintain and expand our local work force.”
EXIM Bank is an independent federal agency that creates and maintains U.S. jobs by filling gaps in private export financing at no cost to American taxpayers. EXIM Bank provides a variety of financing mechanisms, including working-capital guarantees, export-credit insurance and financing to help foreign buyers purchase U.S. goods and services.
Since Fiscal Year 2011, EXIM Bank has supported over $99 million in exports from Binghamton, 77% of which has been for local small businesses. EXIM has supported more than 1.4 million U.S. jobs over the past seven years. Last year, EXIM Bank approved 2,300 small business authorizations, nearly 90 percent of the total number of the bank’s authorizations. For information, visit www.exim.gov.