Alabama Department of Commerce is among 52 Awardees of the SBA State Trade Expansion Program

u s small business administration

NEWS RELEASE

PRESS OFFICE

 

Release Date: October 25, 2022

 

Release Number: 22-6

 

 

Contact: megyn.rodriguez@sba.gov

                
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Alabama Department of Commerce is among 52 Awardees of the SBA State Trade Expansion Program

 

MONTGOMERY, ALABAMA - The U.S. Small Business Administration just announced that $20 million in grant funding has been awarded to state international trade agencies throughout the country via a competitive application process to SBA’s State Trade Expansion Program grant program.

 

Locally, the Alabama Department of Commerce Office of International Trade (ADCOIT) earned $200,000 of that pool to help provide small businesses with the information and tools they need to succeed in export-related activities. Exporting activities may include participating in foreign trade missions, market sales trips, designing international marketing campaigns, participating in export trade show exhibits, and attending training workshops, as well as other important means of engagement.

 

SBA Alabama District Director, Thomas Todt, stated that “the Alabama District Office is thrilled that SBA’s Office of International Trade continues to recognize the outstanding work done by the ADCOIT.” Christina Stimpson, Director of ADCOIT, stated that “The SBA’s State Trade Expansion Program (STEP) program is one of the most effective tools for Alabama exporters and export capable companies. While our award is small, it is impactful. Through the STEP program, the Office of International Trade at the Alabama Department of Commerce has worked with more than 125 companies entering the global market and expanding into new markets.”

 

This year marks the 10th year of the STEP funding, which has awarded over $215 million to date. Since 95% of the world's consumers and two-thirds of all purchasing power are located outside the United States, this grant program plays a critical role in providing access to capital, access to markets, and access to buyers.                                                                                                

If you would like to learn more about the program, or contact your local state entity to apply for funding, additional details are posted on www.SBA.gov/STEP .

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About the Alabama Department of Commerce Office of International Trade:

At the Alabama Department of Commerce, the Office of International Trade advances the creation of quality jobs and economic growth in Alabama through international engagement. Through trade education and organized international trade missions and events, they assist Alabama companies in accessing foreign markets to increase international sales. The Office of International Trade also supports Alabama’s foreign direct investment attraction efforts to heighten awareness that Alabama is a global gateway to the United States and an export-platform for foreign-based investments. For information on Alabama’s STEP grant application process, eligibility, eligible activities and more, visit www.madeinalabama.com or contact exportalabama@commerce.alabama.gov.  

About the U.S. Small Business Administration

The U.S. Small Business Administration helps power the American dream of business ownership. As the only go-to resource and voice for small businesses backed by the strength of the federal government, the SBA empowers entrepreneurs and small business owners with the resources and support they need to start, grow or expand their businesses, or recover from a declared disaster. It delivers services through an extensive network of SBA field offices and partnerships with public and private organizations. To learn more, visit www.sba.gov.