Betting that more exports = more jobs
The Obama administration’s National Export Initiative (NEI) aims to double U.S. exports over the next five years by expanding government promotion efforts. The ultimate goal is job creation. As the Economic Report of the President concludes: “If consumption and construction are not the drivers of growth going forward in the way they were in the early 2000s, two components of private demand are left to fill the gap: business investment excluding structures and net exports.” In 2008, exports represented the work of roughly 10 million American workers.
The NEI calls for an additional $132 million for the Commerce Department’s International Trade Administration (ITA), and the Department of Agriculture to educate farmers and businesses about opportunities overseas and directly connect them with new customers. The NEI also seeks improved access to credit, especially for small- and medium-sized businesses, and increased government focus on knocking down barriers that keep U.S. companies from foreign markets. (Read more details here.)
Of course, you don’t have to wait for Congress to approve a bigger budget for the ITA, you can identify overseas business opportunities today with The Datamyne’s commercial intelligence: contact us to learn more.