As Deadline Nears, Casey Calls on Congress to Reauthorize Ex-Im Bank That Has Helped Hundreds of PA Businesses Create Jobs

Since 2007, Ex-Im Bank Has Financed Nearly $3 billion to Over 200 Pennsylvania Businesses Allowing Them to Access New Markets / In 2014, Local Company by Company Data Shows Businesses Across the State Have Benefitted / Allowing Funding to Stop Would Harm PA’s Economy, Stunt Job Growth

As Deadline Nears, Casey Calls on Congress to Reauthorize Ex-Im Bank That Has Helped Hundreds of PA Businesses Create Jobs

Washington, DC- With over 200 Pennsylvania businesses benefitting from export financing since 2007 and a critical deadline approaching, U.S. Senator Bob Casey (D-PA) today called on Congress to keep the Export-Import (Ex-Im) Bank authorized. The Ex-Im Bank has been key in helping businesses sell their products to international markets; in 2014 alone, the Ex-Im Bank has financed $338 million in transactions to 95 Pennsylvania businesses, supporting more than $500 million in export sales.

“We must act to reauthorize the Export-Import Bank before its charter expires on September 30th,” said Senator Casey.  “The Export-Import Bank helps businesses, particularly manufacturers, across Pennsylvania sell products around the world, creating jobs in the Commonwealth. We must move quickly to reauthorize its charter and allow it to continue with its essential work.”

The Export-Import Bank helps businesses across Pennsylvania export products around the world. Small businesses looking to enter foreign markets can face any number of hurdles to competing abroad.  Companies find themselves caught in a dynamic where foreign banks refuse to finance overseas products, while American banks cannot provide financing due to regulatory or legal hurdles. The Export-Import Bank is there in these circumstances to help these firms get the financing they need to compete.  The Bank also operates at no cost to the federal government and returns funds to the Treasury.

In Pennsylvania, since 2007, the bank has completed roughly $3 billion in transactions benefitting 246 Pennsylvania exporters, including 160 small businesses, and supported about $6 billion in export sales for Pennsylvania businesses. According to the Bank, in 2013, its activities supported an estimated 205,000 U.S. jobs at more than 3,400 companies, 90 percent of which were small businesses. 

Below are some selected success stories from Pennsylvania:

  • “If not for Ex-Im’s insurance, I don’t know how we would have grown our international business.  Open terms is critical and many large companies do not offer it. Plus, the policy gives me a peace of mind,” -Karl Brown, Owner, S.B. Global Foods, Inc. — Landsdale
  • “Our business is growing because of exports. This has helped us maintain jobs, and I have no doubt we will add jobs in the future. Already one of our suppliers in Johnstown, Pennsylvania, which produces our super-premium ice cream according to our recipe, has added staff to its production operation,” -Michael Strange, President, Bassett’s — Philadelphia

 

  • “In today's challenging global economic environment, Ex-Im Bank support of our exports gives us opportunities that we otherwise would not have. The Ex-Im Bank facility allows us to serve buyers in many different countries, like Saudi Arabia, India and China that are less hit by recession. Exports make up 40 to 60 percent of our business, and these sales have helped us create and maintain jobs at Aquatech.  Ex-Im Bank has had a positive impact on our continued growth,” -Venkee Sharma, President and CEO, Aquatech International Corporation — Canonsburg

Below is a list of Pennsylvania businesses that have been helped by the Export-Import Bank in 2014:

Exporter

City

Total Ex-Im Loans

Export Sales Supported by Loans

4n Corporation

Seneca, PA

$105,765

$105,765

Agileswitch, Llc

Philadelphia, PA

$32,246

$32,246

Agricultural Exports, Inc.

Doylestown, PA

$58,454

$58,454

Akrion Systems Llc

Allentown, PA

$6,300,000

$20,500,000

All American Dairy Products, Incorporated

Malvern, PA

$22,998

$22,998

All American Hose, Llc

Union City, PA

$900,000

$3,000,000

Allied Wire & Cable, Inc.

Collegeville, PA

$221,308

$221,308

American Crane & Equipment Corporation

Douglassville, PA

$1,078,200

$1,078,200

American Made, Llc

Cranberry Township, PA

$2,011,432

$2,011,432

Annamaet Pet Foods Inc

Telford, PA

$205,779

$205,779

Aquatech International Corporation

Canonsburg, PA

$14,415,067

$14,415,067

Asi Technologies, Inc

Montgomeryville, PA

$2,028,938

$2,028,938

Aztec Products, Inc.

Montgomeryville, PA

$59,200

$59,200

Bassett Ice Cream Co.

Philadelphia, PA

$333,682

$333,682

Bedford Reinforced Plastics, Inc.

Bedford, PA

$1,187,123

$1,187,123

Berkshire Dairy And Food Products, Llc

Reading, PA

$958,284

$958,284

Bimax, Inc.

Glen Rock, PA

$2,261,236

$2,261,236

Bingaman & Son Lumber, Inc.

Kreamer, PA

$29,904

$29,904

Bpi, Inc.

Pittsburgh, PA

$38,981

$38,981

Bridon American Corporation

Hanover Township, PA

$14,244,861

$14,244,861

C L Sturkey Inc

Lebanon, PA

$96,345

$96,345

Chipblaster, Inc

Meadville, PA

$830,560

$830,560

Circadiance Llc

Export, PA

$5,914

$5,914

Cmi Epti Llc

Erie, PA

$9,609,541

$12,065,329

Conestoga Usa, Inc.

Pottstown, PA

$34,658

$34,658

Copperhead Chemical Company, Inc.

Tamaqua, PA

$207,169

$207,169

Creative Pultrusions, Inc.

Alum Bank, PA

$112,469

$112,469

Eaton Corporation

Moon Township, PA

$10,356,099

$13,056,947

Ecore International

Lancaster, PA

$2,504,312

$2,504,312

Ecotech Marine Llc

Allentown, PA

$2,371,747

$2,371,747

Electronic Instrument Research, Limited

Irwin, PA

$17,050

$17,050

Elliot Ebara Group

Jeannette, PA

$336,396

$597,256

Elliott Company

Jeannette, PA

$570,034

$717,388

Engineered Plastics Llc

Lake City, PA

$78,188

$78,188

Environmental Tectonics Corporation

Southampton, PA

$1,800,000

$5,000,000

Esus Group, Inc., The

West Chester, PA

$10,935

$10,935

Everchem Llc

Media, PA

$27,000

$27,000

F A Davis Company

Philadelphia, PA

$799,704

$799,704

Fallien Cosmeceuticals Ltd.

Norristown, PA

$117,425

$117,425

Fitness Machines, Llc.

Aston, PA

$750,279

$750,279

Forney L.P.

Seven Fields, PA

$388,230

$388,230

Fox Chapel Publishing Co., Inc.

East Petersburg, PA

$39,878

$39,878

Gasbarre Products, Inc.

Du Bois, PA

$1,800,000

$8,000,000

General Electric Power And Water

Trevose, PA

$2,953,813

$3,411,855

General Electric Transportation

Erie, PA

$111,930,209

$136,343,943

General Machine Products Co Inc

Trevose, PA

$188,625

$188,625

Gentex Corporation

Simpson, PA

$217,216

$217,216

Great Coasters International Inc

Sunbury, PA

$1,651,500

$0

Grovara Llc

Blue Bell, PA

$86,069

$86,069

Hormann Flexon Llc

Burgettstown, PA

$10,605

$10,605

Integrated Technologies & Services International, Llc

Johnstown, PA

$3,570

$3,570

International Steel Svcs Inc

Pittsburgh, PA

$3,150,000

$5,000,000

Jlg Industries, Inc.

Mc Connellsburg, PA

$9,165,392

$10,905,349

Just Born, Inc.

Bethlehem, PA

$985,403

$985,403

Kalas Mfg, Inc.

Lancaster, PA

$891,000

$14,000,000

Kraft Foods Group Exports Llc

Wilkes Barre, PA

$2,338

$2,338

Kurt J. Lesker Company

Jefferson Hills, PA

$1,733,356

$1,733,356

Kwik Goal Ltd

Quakertown, PA

$3,501

$3,501

Lenox Instrument Co., Inc.

Trevose, PA

$84,578

$84,578

Lockheed Martin Corporation

Newtown, PA

$85,295,212

$155,524,000

Loh Enterprises, Llc

Clarks Summit, PA

$1,438,987

$1,438,987

Loudon Industries, Inc.

Mercersburg, PA

$1,180,079

$1,180,079

Loveshaw Corporation, The

South Canaan, PA

$500,870

$500,870

Mack Trucks Inc

Allentown, PA

$130,958

$153,468

Metal Edge International, Inc.

North Wales, PA

$318,213

$318,213

Metallurgical Products Company

West Chester, PA

$126,662

$126,662

Mount Joy Wire Corporation

Mount Joy, PA

$115,096

$115,096

Mull Export Management & Consulting

Lancaster, PA

$495

$495

National Label Company, Inc.

Lafayette Hill, PA

$6,300,000

$38,000,000

Norquay Technology Incorporated

Chester, PA

$590,455

$590,455

Oak Hill Veneer, Inc.

Troy, PA

$1,683,718

$1,683,718

Oakworks, Inc.

New Freedom, PA

$144,648

$144,648

Peripheral Dynamics, Inc.

Plymouth Meeting, PA

$283,948

$283,948

Philadelphia Scientific Llc

Montgomeryville, PA

$141,499

$141,499

Polyflow Inc.

Oaks, PA

$23,078

$47,091

Raymond Cohen And Son Inc

Camp Hill, PA

$4,695,888

$4,695,888

Rjm Manufacturing Inc

Fairless Hills, PA

$660,869

$660,869

S.b. Global Foods, Inc

Lansdale, PA

$498,065

$498,065

Sapling Company, Inc., The

Huntingdon Valley, PA

$509,719

$509,719

Scicast International Incorporated

Bechtelsville, PA

$258,956

$258,956

Sealstrip Corporation

Gilbertsville, PA

$411,447

$411,447

Showmark, Llc

Exton, PA

$16,094

$16,094

Smithco, Inc.

Wayne, PA

$1,343,353

$1,343,353

Specialty Tires Of America, Inc.

Indiana, PA

$3,984,394

$3,984,394

Spring Health Products, Inc.

Norristown, PA

$14,542

$14,542

Strong Industries, Inc.

Northumberland, PA

$232,769

$232,769

Superior Tire & Rubber Corp.

Warren, PA

$56,657

$56,657

Susquehanna Capital Acquisition Company

Lancaster, PA

$4,500,000

$6,666,667

Tescor, Inc.

Warminster, PA

$1,726,136

$1,726,136

Tim-bar Corporation

Hanover, PA

$277,954

$277,954

Timken Gears & Services Inc.

King Of Prussia

$129,391

$264,022

Turkey Hill, L.P.

Conestoga, PA

$675,952

$675,952

Unipack, Inc.

Pittsburgh, PA

$53,144

$53,144

Wesco Industrial Products, Inc.

North Wales, PA

$79,832

$79,832

Zeigler Bros., Inc.

Gardners, PA

$7,352,324

$7,352,324

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John Rizzo 202-228-6367