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VIDEO: Senator Hagan helps pass Export-Import Bank, which supports 3,300 NC jobs
Story Date: 5/21/2012
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Source: PRESS RELEASE, 5/18/12
This week, a bill that Senator Hagan co-sponsored — the Export-Import Reauthorization — passed the Senate and is headed to the President's desk to be signed into law. News 14 reported that Senator Hagan fought to include a provision that specifically benefits a quintessential North Carolina industry— the textile industry. "The reauthorization measure also includes Hagan's amendment that requires a representative from the textile industry to sit on the Bank's advisory board."
ICYMI VIDEO: Hagan's textile provision included in passage of Ex-Im Bank reauthorization
That provision is a big deal for textile companies in North Carolina, and it was praised by Cass Johnson, president of the National Council on Textile Organizations, who told the Richmond Daily Journal that his organization "applauds U.S. Senator Kay Hagan's leadership in opening up business opportunities for U.S. textile producers."
The reauthorization is also significant for North Carolina small businesses owners, such as William Motchar, CEO and president of the Lexington, North Carolina-based Navis Global. Mr. Motchar told the Lexington Dispatch that the Ex-Im Bank reauthorization "is good for us" because "it offers financing options for our customers."
In North Carolina alone, "the Ex-Im Bank supported more than 3,300 jobs and $456 million in exports during the previous year. Since 2007, the bank has supported more than $1.8 billion in export sales by 169 North Carolina companies of which 116 were small businesses," according to the Lexington Dispatch.
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