Past government administrations have made it a priority to help rural American companies, manufacturers and agricultural farmers increase their exports through the use of resources, expertise, counseling and programs. An example of this is the "Made In Rural America" inititave, which began in 2014. Participation from the Department of Commerce, the Department of Agriculture, the Small Business Administration, the Export-Import Bank of the U.S (EXIM), the Office of the U.S. Trade Representative and the U.S. Postal Service have all been involved in providing export assistance, especially during the last recession when rural companies began selling abroad for the first time in order to find ways to expand. As a result, these companies were able to retain or create jobs through their export sales while spreading the risk to more markets than one.
Not only does EXIM support rural businesses involved in exporting, but we also understand the act of exporting helps build positive economic development for many rural communities across the country. According to a FedEx national survey, “65% of small businesses that trade said their revenue is increasing versus 46% that do not trade.” Below are four reasons why exporting is a form of rural economic development:
