For Immediate Release: August 27, 2013
Contact: Lorri Crowley (202) 482-3809
U.S. Commerce Department Awards $294k to Increase U.S. Exports, Create Jobs in Washington, D.C., Maryland, and Virginia
WASHINGTON – U.S. Under Secretary of Commerce for International Trade Francisco Sánchez today announced that the non-profit Capital Region USA (CRUSA) will receive $293,949 from the International Trade Administration’s (ITA) Market Development Cooperator Program (MDCP) to promote travel and tourism exports to China, Brazil, and Germany. These funds are expected to generate an estimated $14 million in exports during the next three years by businesses in Washington, D.C., Maryland, and Virginia.
“For many U.S. companies, exports can be the key to thriving in difficult times,” said Under Secretary Sánchez. “Despite a slowdown in the world economy, U.S. exports hit an all-time record of $2.2 trillion last year. Our Market Development Cooperator Program awards to organizations like CRUSA are part of President Obama’s government-wide strategy to increase exports. Doing so strengthens America’s economy, ensures long-term, sustainable growth, and supports American jobs in D.C., Maryland, and Virginia.”
The MDCP award to CRUSA will be matched by an investment of $588,000 by the organization that pledged to pay a minimum of two-thirds of the project costs and to sustain the projects after the initial MDCP award period ends.
The MDCP awards include financial and technical assistance from ITA to support well-defined business plans aimed at increasing exports and U.S. competitiveness within certain industries. An MDCP award establishes a partnership between ITA and non-profit industry groups to help strengthen global competitiveness and create jobs through exports. Since MDCP’s inception in 1993, the program has issued 128 awards. In an average year, MDCP projects generate $258 million in U.S. exports.
This year, six other non-profit industry groups around the country are also receiving awards from this fund. In total, these projects are expected to generate $426 million in U.S. exports in the next three years in return for the one-time $1.9 million Federal investment.
For more information about the Market Development Cooperator Program, please visit www.trade.gov/mdcp.
International Trade Administration
The International Trade Administration (ITA) is the premier resource for American companies competing in the global marketplace. ITA has 2,400 employees assisting U.S. exporters in more than 100 U.S. cities and 70 countries worldwide. For more information on ITA visit www.trade.gov.
The International Trade Administration, U.S. Department of Commerce, manages this global trade site to provide access to ITA information on promoting trade and investment, strengthening the competitiveness of U.S. industry, and ensuring fair trade and compliance with trade laws and agreements. External links to other Internet sites should not be construed as an endorsement of the views or privacy policies contained therein. This site contains PDF documents. A PDF reader is available from Adobe Systems Incorporated.