09/26/2011
Gov. Malloy Announces $550K Grant from SBA
New Federal Program will Help Grow Export Base in State
(HARTFORD, CT) - Governor Dannel P. Malloy today announced that the Small Business Administration (SBA) awarded a $546,822 grant to Connecticut to help increase state exports and the number of small businesses that export.
"Connecticut has a diverse industrial base and an innovative and highly productive workforce that is already exporting its products around the world. But there is potential to grow," said Governor Malloy. "As exports are an engine of growth, I believe this new program and the resources it provides will create economic optimism by helping even more Connecticut companies capitalize on their products, expand their markets, and increase their value in the highly competitive global marketplace."
The SBA created the State Trade and Export Promotion (STEP) pilot grant initiative earlier this year to provide grants to state export offices over the next three years. The program, authorized by the Small Business Jobs Act of 2010, is aimed at increasing the number of small businesses that want to export and increasing the value of exports for those small businesses that currently export.
The $546,822 represents year one of the three-year grant. States must apply each fiscal year for their annual allotment. Connecticut's Department of Economic and Community Development (DECD) will administer the program and direct funds toward international business development opportunities and technical assistance programs.
Businesses seeking export assistance should e-mail Laura Jaworski in DECD's Office of International and Domestic Affairs at laura.jaworski@ct.gov.