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Fact Sheet: National Export Initiative/NEXT
Commerce Secretary Penny Pritzker recently announced that the Obama Administration will build on the success of the National Export Initiative (NEI) by launching NEI/NEXT: a new customer service-driven strategy with improved information resources that will ensure American businesses are fully able to capitalize on expanded opportunities to sell their goods and services abroad.
NEI/NEXT will help more American companies reach more overseas markets by improving data, providing information on specific export opportunities, working more closely with financing organizations and service providers, and partnering with states and communities to empower local export efforts.
NEI/NEXT will be implemented through the Export Promotion Cabinet and Trade Promotion Coordinating Committee (TPCC), which consists of representatives from 20 federal departments and agencies with export-related programs. The Secretary of Commerce chairs the TPCC.
Exports Continue to Support American Jobs
Exports are critical to the American economy. They fuel economic growth in our communities, support good middle class jobs, and unlock opportunity for American companies, entrepreneurs, farmers, ranchers, and workers, enabling U.S. companies to compete in the growing global marketplace. By selling Made-in-America goods and services to international customers, U.S. businesses – including small and medium-sized and minority- and women-owned businesses – are able to grow faster, hire more employees, pay higher wages, and help spread American ideas, innovation and values.
Increasing exports will help the U.S. economy continue to rebalance from one mostly driven by domestic consumption to one increasingly engaged with the 95 percent of consumers who live outside our borders. Recognizing the many opportunities exports create for our economy, President Obama launched the NEI in 2010 as a whole-of-government effort to help U.S. companies increase exports, expand into new markets, and compete globally.
Since mid-2009, exports have driven nearly a third of economic growth and now account for nearly 14 percent of our economy. Now, more American businesses are exporting than ever, helping our economy grow in important ways:
- American businesses achieved record exports for four consecutive years, with exports reaching an all-time high of $2.3 trillion in 2013, and supporting 11.3 million jobs.
- Thousands of companies across the country made exporting a strategy to grow their business.
- Dozens of states and communities turned to exports as a path for economic growth and job creation.
- The Administration achieved unprecedented interagency coordination to better serve exporters and promote export growth.
From NEI to NEI/NEXT
The Obama Administration is committed to strengthening the U.S. economy, increasing the competitiveness of American companies, and creating an economic environment in which the American workforce can thrive.
There is tremendous opportunity to build on the success of the NEI. Only a fraction of U.S. companies export, and 58 percent of exporting companies sell to only one market. Like its predecessor, NEI/NEXT is an economic growth strategy to create and support well-paying jobs here at home by ensuring our companies are poised for success in the global marketplace. Developed from extensive stakeholder feedback and lessons learned, NEI/NEXT will take the NEI strategy to next level by institutionalizing our progress from the past four years and serving as a framework to guide the development of new, innovative initiatives.
Under the NEI, federal trade agencies solicited feedback from companies, stakeholders, and associations across our economy, including the President’s Export Council. Feedback from recent customer surveys and focus groups across the country – reaching more than 6,000 clients and partners – showed that U.S. companies are well-positioned to capitalize on growing opportunities around the world and that there is even more that the U.S. government can do to help. More specifically, we learned:
- Strong global consumer growth will further increase demand for U.S. products and services.
- We must expand our partnerships with private-sector entities to reach more potential exporters and help current exporters expand their foreign sales.
- We made impressive gains in the number and quality of trade promotion programs, but we must do more to improve the planning, consistency, and timeliness of these programs across the federal government.
- We expanded access to financing, but customers are still facing problems due to lack of lender awareness.
- We tripled the number of business counselors trained to boost exports nationwide, but need to do more to expand our reach – both geographically and by sector.
NEI/NEXT: Helping More American Companies Reach More Markets
The five objectives of NEI/NEXT are rooted in the lessons we have learned, and include:
- Connecting more U.S. businesses to their NEXT global customer with tailored industry-specific information and assistance.
- Making the NEXT international shipment easier and less expensive, through efforts to streamline U.S. government export-related services, reporting requirements and processes, and speeding American goods to more markets through domestic infrastructure improvements.
- Expanding access to finance for U.S. businesses’ NEXT export transaction, helping more exporters obtain financing to meet international demand, and ensuring more companies know what products and services are available to reduce risk and export to new markets with confidence.
- Promoting exports and foreign direct investment attraction as the NEXT economic development priority in communities and regions across the country by enhancing partnerships with local and state leaders and by coordinating with SelectUSA.
- Creating, fostering and ensuring U.S. business’ NEXT global opportunity by helping developed and developing economies improve their business environments, by opening new markets, and by establishing conditions and addressing barriers to allow more American exporters to compete and win abroad.
Within each objective, the NEI/NEXT will support the creation of data to help companies make decisions and better inform communities across the country so they can integrate trade and investment into their economic development strategies. Agencies also will work to gather and use feedback from companies and stakeholders regularly in an effort to improve our strategy on a continuous basis, and reaffirm our commitment to American businesses and the economy.
The Administration will measure success under NEI/NEXT by tracking several metrics that focus our strategy on meeting customer needs, including:
- Dollar value of U.S. exports
- Number of U.S. companies exporting, including small and medium-sized businesses and minority- and women-owned businesses as well as the number of companies new to exporting
- Number of companies exporting to more than one market (specifically those exporting to 2 to 4 markets and those exporting to 5 to 9 markets, or more – as measured by the Census Bureau)
- Exports to emerging countries and trade agreement markets (by dollar value and number of companies)
NEI/NEXT also will track these figures from a regional and metropolitan perspective to measure success in communities across the United States.
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