For Immediate Release: August 27, 2013
Contact: Lorri Crowley (202) 482-3809
U.S. Commerce Department Awards $300k to the Utilities Telecom COuncil Increase U.S. Exports, Create Jobs
WASHINGTON – U.S. Under Secretary of Commerce for International Trade Francisco Sánchez today announced that the non-profit Utilities Telecom Council (UTC) in Washington, D.C., will receive $299,531 from the International Trade Administration’s (ITA) Market Development Cooperator Program (MDCP) to increase the competitiveness of the U.S. Smart Grid electrical equipment and services industry abroad by generating exports to Brazil. These funds are expected to generate an estimated $28 million in exports during the next three years.
“For many U.S. companies, exports can be the key to thriving in difficult times,” said Under Secretary Sánchez. “Despite a slowdown in the world economy, U.S. exports hit an all-time record of $2.2 trillion last year. Market Development Cooperator Program awards to organizations like UTC are part of President Obama’s government-wide strategy to increase exports. Doing so strengthens America’s economy, ensures long-term, sustainable growth, and supports American jobs across the country.”
The MDCP award to UTC will be matched by an investment of $1,012,000 by the organization that pledged to pay a minimum of two-thirds of the project costs and to sustain the projects after the initial MDCP award period ends. Specifically, the funds will allow UTC to expand U.S. exports by: 1) developing and disseminating a best practices guide for Brazilian utilities; 2) presenting technology workshops in Brazil; and 3) initiating match-making for U.S. firms.
The MDCP awards include financial and technical assistance from ITA to support well-defined business plans aimed at enhancing U.S. competitiveness within certain industries by stimulating exports. An MDCP award establishes a partnership between ITA and non-profit industry groups to help strengthen global competitiveness and create jobs through exports. Since MDCP's inception in 1993, the program has issued 128 awards. In an average year, MDCP projects generate $258 million in U.S. exports.
This year, six other non-profit industry groups around the country are also receiving awards from this fund. In total, these projects are expected to generate $426 million in U.S. exports in the next three years in return for the one-time $1.9 million Federal investment.
For more information about the Market Development Cooperator Program, please visit www.trade.gov/mdcp.
International Trade Administration
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