Investing in ND Exporters Yields Big Results
Posted on March 2, 2017
The STEP ND 2015-16 results are in and demonstrate the sterling returns that come from investing in North Dakota’s exporters. A total of $287,694 was awarded to the NDTO in 2015 through the SBA’s State Trade Expansion Program grant. To date, over $23 million of exports have been reported as a result of activities covered under this grant, including international sales trips, trade missions and USCS services. This means that STEP companies have achieved a return on investment of over 82:1! And there’s still more funding to take advantage of.
Thirty-two companies actively participated in STEP 2015-16. Over half the companies used the funds on more than one trade trip. Twenty-one companies expanded into a total of 37 new markets. Nineteen companies increased their share of 25 existing markets. The average company was reimbursed $1,923.72 per activity.
The current STEP ND 2016-17 program is underway and there is still plenty of money to utilize on your export-focused domestic and international sales trips and trade missions. Expenses related to US Commercial Service activities, website translation and foreign language marketing materials are also eligible for reimbursement.
For more information and to fill out an application, click here.