EXIM chairman makes a stop in Tampa, Clearwater

President and chairman of the Export-Import Bank of the United States, or EXIM, Kimberly A. Reed, spoke Wednesday at the American Association of Port Authorities 2020 Shifting Trade conference hosted by Tampa Port Authority.

During her keynote address to more than 100 public and private-sector leaders in the shipping industry, she highlighted how EXIM facilitates U.S. exports and supports American jobs through free, fair and  economic relationships.

She also provided an update on EXIM’s historic seven-year reauthorization, which passed in the United States Congress, with bipartisan support, and was signed into law last month by President Donald J. Trump.

The reauthorization is meant to provide a level of certainty and stability to American workers and businesses, including port authorities and the maritime industry, that EXIM is fully open for business and to give clear direction to focus on economic and national security challenges from China, according to a statement from EXIM.

“Cargo activity supports 31 million U.S. jobs. For every $1 billion in exports shipped through U.S. seaports 15,000 U.S. jobs are created. Now that EXIM is reauthorized for a historic seven years, U.S. companies – both small and large – will be able to export even more through America’s ports,” said Reed during her address.

The AAPA represents the seaport industry in the Americas including more than 130 public port authorities in the U.S., Canada, the Caribbean, and Latin America.

EXIM Chairman Kimberly Reed visits Motortronics in Clearwater

Reed also visited the Clearwater headquarters of Motortronics, a global manufacturer of solid state electrical motor controls and motor protection products. This small business has relied on EXIM since 2007, using both export credit insurance and working capital guarantees, the statement said.

The company ships to buyers in more than two dozen countries including Egypt, China, Turkey, South Korea and Singapore.

“With EXIM’s support, we have been able to enter markets around the globe and win new customers in developing countries to obtain our products,” said Motortronics Vice President Joyce Mitchell. “In 2019, approximately 14 million to 15 million of our sales revenue was in exports. Seventy employees at Motortronics would not have jobs, if not for EXIM.”


You May Also Like

Visit St. Pete/Clearwater names chief marketing officer

Visit St. Pete/Clearwater has named Steve Grimes as the organization’s chief marketing officer. In the role, Grimes will lead all advertising, promotions, marketing, market intelligence, digital, communications and social media

CEO of PSCU and Co-op Solutions talks about growth and maintaining company culture

PSCU and Co-op Solutions, two leading credit union service organizations and financial technology service providers, have closed a deal to combine operations.  As of January, PSCU and Co-op began operating

AI accelerator program to christen Tampa Bay Innovation Center’s new headquarters

The Tampa Bay Innovation Center, an early-stage tech incubator and accelerator, in St. Petersburg, will host a showcase event featuring the founders that participated in its most recent accelerator program,

Tampa Bay Chamber’s Minority Business Accelerator receives grant from JPMorgan Chase

The Tampa Bay Chamber received $134,000 from JPMorgan Chase to support its Minority Business Accelerator which was created to support local Black and Hispanic-owned businesses and organizations. The Chamber’s MBA

Other Posts

Older Lundy opens fifth office in downtown St. Petersburg

Older Lundy has opened the firm’s fifth office, in downtown St. Petersburg, through the acquisition of Heller Law, a business and commercial litigation law firm. Sam Heller, managing and founding

Shumaker establishes St. Petersburg office

The largest business law and legislative affairs firm on the West Coast of Florida has officially put boots on the ground in Pinellas County, announcing plans to open an office

PostcardMania surpasses $100 million in revenue

PostcardMania, a Clearwater-based marketing technology firm, is reporting it achieved record revenue in 2023, crossing the $100 million mark to hit $104.6 million, a new high for the company. The

National whiskey festival hits St. Pete this weekend

The Tampa Bay region’s largest whiskey event will take place, in St. Petersburg, for the first time, on February 3. Known as the event of the year, for whiskey lovers