On Friday, WCIT sent a letter – signed by 17 businesses and business organizations from across the state – urging the Washington state Congressional delegation to lead Congress in reauthorizing the Export-Import Bank of the United States.
Ex-Im Bank, a federal agency that assists in financing the export of U.S. goods and services to international markets, is especially important to trade-dependent Washington state. The majority of users are small businesses and, in 2011 alone, Ex-Im Bank has lent more than $7 billion to 74 companies in our state. These companies represent many key sectors in our state, including aerospace, global health, clean technology, agriculture and wine.
However, the agency is currently operating through a continuing resolution after its authority expired on September 30, which will expire by December 16.