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Hagan: Ex-Im Bank reauthorization to boost Triangle area, entire NC Economy
Story Date: 5/16/2012
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Source: PRESS RELEASE, 5/15/12
U.S. Senator Kay R. Hagan today applauded final Senate passage of the reauthorization of the Export-Import Bank that last year alone in North Carolina supported more than 3,300 jobs and $456 million in exports. Since 2007, the Bank has supported more than $1.8 billion in export sales by 169 North Carolina companies, the majority of which were small businesses.
INTERACTIVE MAP: REGION-BY-REGION IMPACT
“The bipartisan reauthorization of the Ex-Im Bank is great news for North Carolina’s economy because the Bank supports thousands of jobs and small businesses,” Hagan said. “My four favorite words are ‘Made in North Carolina,’ and the Ex-Im Bank helps ship that label around the globe. I am also pleased that the reauthorization includes my provision to gives the textile industry a seat at the table by adding a textile industry representative to the Bank's Advisory Council.”
The reauthorization will increase the lending cap from $100 million to $140 million to facilitate export financing through 2015. Hagan’s provision ensures that the textile industry has a representative on the Ex-Im Bank Advisory Committee and was praised by the National Council of Textile Organizations. More than 1,500 textile facilities employ more than 130,000 North Carolinians. North Carolina textiles and fabrics accounted for more than $2 billion in exports in 2011.
TRIANGLE AREA IMPACT:
Frontier Spinning Mills, Inc.
Sanford
107,647,503.34
C/K International, LLC
Durham
90,095,114.42
Frontier Spinning Mills
Sanford
500,000,000.00
Asc Signal Corporation
Garner
74,000,000.00
Scm Metal Products, Inc.
Research Triangle Park
90,000,000.00
Static Control Components Inc
Sanford
10,000,000.00
Siemens Power Transm & Dist
Raleigh
11,412,749.81
Carolinas Cotton Growers Cooperative, Inc.
Garner
8,840,859.34
Coastal Lumber Company
Weldon
70,000,000.00
Energy Conversion Systems Holdings, Llc
Dunn
4,800,000.00
Turkington Usa, Llc
Clayton
40,000,000.00
A P V North America Inc
Goldsboro
6,415,347.82
Piedmont Trading Inc.
Raleigh
106,865,000.00
Turkington USA, LLC
Clayton
6,136,457.07
C/K INTERNATIONAL, LLC
Durham
3,843,048.00
Horner International Company
Raleigh
3,623,439.36
Emco Wheaton Retail Corporation
Wilson
3,526,801.45
E. Boyd & Associates, Inc.
Raleigh
2,366,830.80
Mercator, Inc.
Raleigh
2,236,073.84
PS International, LLC
Chapel Hill
2,095,596.00
Elster Electricity Llc
Raleigh
2,478,120.70
Aeroglide Corporation
Cary
1,603,044.33
Ncontact Surgical Inc.
Morrisville
1,250,000.00
Coventor, Inc.
Cary
1,800,000.00
TEKSERVE, INC.
Raleigh
1,300,000.00
HED, Inc.
Rocky Mount
580,364.66
Spanset, Inc
Sanford
62,991.36
Bioresource International, Inc.
Morrisville
66,046.50
Electronic Systems Protection, Inc.
Zebulon
95,289.10
Bonaventure Group Inc. /DBA/ AFEX
Raleigh
145,971.66
INSITE SOLUTIONS, LLC
Rocky Mount
62,093.00
Spanset, Inc.
Sanford
51,597.00
Hydrotex USA Inc.
Raleigh, NC
43,095.00
Crop Microclimate Management
Apex
38,000.00
Pilling Surgical Inc
Triangle Park
35,618.67
Hog Slat, Incorporated
Newton Grove
25,797.17
J Davis Architects, LLC
Raleigh, NC
7,086.63
Kidde Aerospace
Wilson
2,718.22
EMCO WHEATON RETAIL
Wilson, NC
457,963.00
Southern Lithoplate Inc.
Youngsville, NC
351,290.36
E T C Of Henderson, N. C., Inc.
Henderson
3,190,439.64
Total Export Sales Supported
1,157,552,348.25
TIMELINE OF EX-IM BANK IN 2012:
Ø FEBRUARY 24th: Senator Hagan urges reauthorization as she hosts Ex-Im Bank Chairman in Greensboro for Export Forum with North Carolina small businesses.
Ø MARCH 20th: Senate blocks effort to proceed to vote on Ex-Im Bank reauthorization; Hagan votes in favor of proceeding to Ex-Im Bank legislation.
Ø MAY 4th: House leaders agree to bipartisan deal to reauthorize the Export-Import Bank for $140 million through 2015.
Ø MAY 9th: The House overwhelmingly passes reauthorization on a bipartisan basis, 330-93.
Ø MAY 15th: Senator Hagan helps pass reauthorization in the Senate, 78-20.
Ø MAY 31st: Current authorization of Ex-Im Bank expires; the President most likely will sign reauthorization prior to this date.
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