Kentucky awarded $400,000 in State Trade Expansion Program funding

FRANKFORT, Ky. (KFVS) – Governor Andy Beshear introduced on Wednesday, September 21 the continued assist of small-business development statewide.

The U.S. Small Enterprise Affiliation awarded the commonwealth $400,000 in State Commerce Enlargement Program funds to assist extra corporations export.

The grant program, which is marking its tenth anniversary of funding small enterprise development, offers corporations with the data and instruments wanted to efficiently promote their services worldwide.

“The STEP program has helped tons of of Kentucky corporations develop into exporters, which has boosted financial improvement throughout our state,” Gov. Beshear mentioned. “We acknowledge that small and medium-size companies are important to the success of Kentucky’s financial system.”

“In line with Kentucky authorities officers, gaining the assets to empower much more of our nice corporations to entry worldwide markets is an enormous win for Kentucky companies, in addition to the households and communities they assist,” he continued.

Eligible Kentucky companies could obtain as much as $10,000 in grant funding for 12 months 10 of the STEP program.

Corporations can start the appliance course of now by visiting kyexports.com.

Exporting actions supported by STEP funding embody beneficial coaching and workshops for export readiness, participation in commerce missions with worldwide audiences, international market gross sales journeys, design of worldwide advertising media and exhibiting at commerce reveals with worldwide audiences, in addition to different significant engagement outdoors the US.

Since inception in 2011, Kentucky STEP has awarded over $2.7 million to greater than 230 companies throughout the state. With 95% of the world’s shoppers and two-thirds of all buying energy situated outdoors the US, this grant program performs a essential position in offering entry to capital, entry to markets and entry to consumers.

In Kentucky, STEP has served as a number one instance of how a state can associate with corporations to develop and enter new markets.

In 2021, Kentucky corporations bounced again robust in response to the pandemic by exporting greater than $29.5 billion in merchandise worldwide.

For extra data, or to use for STEP funding, go to kyexports.com/step-grant.

E mail accomplished functions to STEP Program Supervisor Mary NeCamp at mnecamp@ky.gov.

Data on Kentucky’s financial improvement efforts and packages is offered at CED.ky.gov. Followers of the Cupboard for Financial Improvement also can be a part of the dialogue at fb.com/CEDkygov, on Twitter @CEDkygov, Instagram @CEDkygov and LinkedIn.

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