Empire State Development announced that Global NY, the agency’s international initiative, was awarded a $660,000 State Trade and Export Promotion Program grant from the U.S. Small Business Administration.
The funds will be used to support the growth of New York small businesses’ exports to foreign markets. Combined with state matching funds, the program will invest more than $885,000 in small businesses statewide through 2016.
Empire State Development President, CEO and Commissioner Howard Zemsky said small businesses, which make up 98 percent of all state businesses, are key to putting New York products on the global scale.
“The Small Business Administration’s investment in Global NY and New York State’s small businesses provides us with even more tools to diversify and strengthen the backbone of our economy,” Zemsky said. “We are thankful to our federal partners at the SBA and remain committed to support the development and success of small businesses.”
Funds from the trade and export promotion program will assist state small businesses in participation in foreign trade shows, foreign market sales trips, website and marketing services, and Gold Key services provided by the U.S. Department of Commerce. The purpose of the program is to increase the number of small business exporters and the value of their products as well as to expand job creation and retention through export activity.
Funding will start being awarded on Sept. 30, and will continue on a first-come, first-serve basis through Sept. 29, 2016.
The Small Business Administration said New York is receiving the ninth largest award made to a total of 40 states and territories in this round of trade and export promotion funding.
For more information on Global NY, visit www.global.ny.gov.
