Representative Nita Lowey

Representing the 17th District of New York

CONGRESSWOMAN LOWEY, SENATOR KIRSTEN GILLIBRAND, AND EXIM BANK CHAIRMAN HOCHBERG HOST ROUNDTABLE ON EXPORTING TO HELP BOOST BUSINESSES IN WESTCHESTER COUNTY AND THE LOWER HUDSON VALLEY

June 13, 2016
Press Release

Lowey, Gillibrand, and Hochberg Meet With Local Businesses and Economic Development Leaders to Discuss Ways to Expand Export Opportunities

Elmsford, NY – Congresswoman Nita Lowey, Ranking Member of the House Appropriations Committee, 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 hosted a roundtable conversation today at Magnetic Analysis Corporation to promote the exporting potential of businesses in Westchester County and the Lower Hudson Valley region.

“The Ex-Im Bank helps American companies export the best brand in the world – ‘Made in America,’” said Lowey, who fought hard to reauthorize the ExIm Bank last year. “ExIm’s guaranteed financing supported $2.2 billion worth of exports and 14,150 jobs at 22 exporters – including nine small businesses – from 2007-2014 in New York’s 17th Congressional District. I’ll keep fighting for commonsense federal investments like ExIm to support job creation and global competitiveness for local businesses.”

“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 businesses in Westchester County and the Lower Hudson Valley region have the resources and support they need to stay competitive. The Export-Import Bank can give Westchester’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 today 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.” 

“For the past 6 years we have taken advantage of our relationship with the EXIM Bank to secure working capital for foreign sales activity thereby enabling us to level the playing field with our foreign competition,” said Tom Gannalo, CFO, Magnetic Analysis Corporation.

“Business Council of Westchester members appreciate the access to information about financing in the global marketplace,” said Dr. Marsha Gordon, President/CEO, The Business Council of Westchester. “Bringing President Hochberg to Westchester demonstrates Senator Gillibrand's ongoing commitment to business in New York.”

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 $615 million in exports from Westchester and the Lower Hudson Valley. 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.

###