WASHINGTON – U.S. Senator Mary L. Landrieu, D-La., Chair of the Committee on Small Business and Entrepreneurship, announced today, $850,000 for the state of Louisiana from State Trade and Export Promotion (STEP) Program. The pilot program, passed by Congress as part of the Small Business Jobs Act of 2010 [P.L. 111-240] and signed into law by the President, seeks to increase exports by small businesses by providing funding to states to start or enhance export assistance programs. With 95% of the world’s customers outside the United States and only 1% of America’s small businesses exporting, the program was created to spur small business exporting and create jobs in local communities.

“Since its founding, Louisiana has been a hub for trade and entrepreneurship. In fact, President Thomas Jefferson made the Louisiana Purchase in 1813 to increase opportunities for U.S. traders and protect U.S. access to the Port of New Orleans. That great tradition of Louisiana promoting international trade continues today as our small businesses begin to receive the necessary education and training to reach our nation’s goal of doubling exports,” Senator Landrieu said. “With over 40 ports and an extensive rail system, Louisiana has long been a top destination for companies seeking to export their goods and services. Through the STEP program, current Louisiana exporters and those small businesses new to exporting will get specified training and export counseling to make the best use of our state’s gateway to the world, creating jobs and rebuilding our economy.”

Nearly $30 million in funding was available for qualified states in the first year of the program, with individual grants awarded on a competitive basis starting in mid 2011. The pilot program is authorized for three years, but currently has appropriations for two years of funding. Each state was able to submit one application per funding cycle and must be certified by the Governor. States will use STEP funding to start or expand small business export assistance programs and to reduce the cost of a number of start-up activities associated with exporting including, attendance at trade shows, participation in foreign trade missions, the translation of websites into foreign languages, and the purchase of services from the Department of Commerce.

According to the SBA, the STEP grants will help provide:

• support for small business participation in foreign trade missions and foreign market sales trips;

• subscription to services by the Department of Commerce;

• website translation fees;

• design of international marketing media;

• trade show exhibitions;

• participation in training workshops; and

• other export initiatives determined to be appropriate by the SBA.

Louisiana will use the funding to identify, qualify, train, prepare and assist small businesses to increase export readiness and expand exports. Firms will receive company-tailored and market-specific individual export preparation counseling for participation in trade missions, reverse trade missions, and domestic and international trade shows and exhibitions, according to the SBA.

Export supported jobs account for almost seven percent of total U.S. private sector employment, and they pay 15 percent more on average than domestically created jobs. Although only 1 percent of the United States nearly 28 million small businesses currently export their goods and services, these firms typically account for almost one-third of the country’s annual export volume, suggesting that global markets hold vast economic potential for small businesses.