Brown to Host Valley Execs at Ex-Im Summit
WASHINGTON – U.S. Sen. Sherrod Brown, D-Ohio, plans to meet today with 38 Ohio businesses that are part of the Export-Import Bank Coalition’s “fly-in” campaign today.
Brown, who sits on the Senate Banking, Housing and Urban Affairs Committee, says the discussion will center on the importance of exporting products and how it affects job creation for Ohio businesses.
Among the representatives from the Mahoning Valley participating in the event is Joseph Valvo, vice president of sales at Astro Shapes Inc., Struthers, Ohio.
“Exporting helps create jobs and new opportunities for Ohio businesses,” Brown said in a statement. “As we prepare for a long debate on trade policy, it’s critical that I hear from business leaders like Joseph to determine how we can continue to work together to boost American exports and increase jobs in Ohio.”
Eric Rebhan, president and owner of Ohio Steel Sheet & Plate of Hubbard, Michael Filchock, director of SunTrust Bank in Vienna Township, Ohio, and Werner Gottlieb, president of Altronic Inc., based in Girard, Ohio, are also expected to attend the evening event.
Since 2007, more than 350 Ohio businesses, including 225 small businesses, received critical support from the Export-Import Bank. This support has helped leverage $3 billion in export value, Brown says, and Ex-Im estimates that it has supported 9,670 jobs in Ohio between 2009 and 2013.
The bank is designed to fill financing gaps in export operations. Ex-Im provides financing mechanisms such as working capital guarantees, export-credit insurance and financing to help foreign buyers buy U.S. goods and services. By charging fees and interest on all loan-related transactions, Ex-Im Bank is self- sustaining and each year covers all of its operations and loan expense, and in recent years contributed its surplus revenues to the U.S. Treasury, according to Brown’s office.
The Export-Import Coalition represents manufacturers across the country.
Copyright 2023 The Business Journal, Youngstown, Ohio.