Northwest Aerospace News October | November Issue No. 11 | Page 21

E
XIM is an essential tool for
American exporters and manu-
facturers. An independent federal
agency, the bank enables foreign
buyers of American-made goods to
obtain competitive financing and
loan guarantees when alternatives
in the private sector are unavail-
able. Over the last 10 years, EXIM
has helped create over 1.8 million
jobs in the U.S. and has generated
4.9 billion dollars for the Ameri-
can taxpayer since 2009.
If all of this is old news, perhaps
this will surprise you — EXIM
is one of more than 100 export
credit agencies around the world.
In fact, China has three and they
supported more export finance in
2014–2015 than the entire 85-year
history of EXIM. We may not be
unique in having an export credit
agency, but EXIM is a vital part
of supporting our regional and
national economy.
While the aerospace industry relies
heavily on the services EXIM pro-
vides, we are hardly alone. Across
the Pacific Northwest states of
Idaho, Oregon, and Washington,
EXIM has supported more than
220 total exporters since 2015,
including 175 small businesses
and 41 minority or women-owned
businesses. In Idaho, the top
industry supported is crop produc-
tion and sales. In Oregon, wood
manufacturers use EXIM more
than any other industry. And, in
Washington, the bank provides the
bulk of its support to the transpor-
tation equipment manufacturing
and sales industry, which includes
but is not limited to aerospace.
Boeing supports approximately 1,500 jobs in Washington State alone
The various countries these Pacific Northwest companies trade with are as diverse as
the industries EXIM supports. From Peru to India, from the United Kingdom to South
Korea, EXIM ensures that the goods our region’s companies manufacture and the ser-
vices they provide make it to the global marketplace. The bank has also opened up new
markets for American manufacturers like Boeing.
In 2011, EXIM approved the first financing of any U.S. export to Tajikistan, supporting
the sale of Boeing 737-900 aircraft to Somon Air, a privately-owned airline based in
the country. First-of-its-kind transactions like this help raise awareness about the ex-
port credit agency with potential new trading partners in emerging markets, supporting
growth for American exporters.
OCTOBER | NOVEMBER 2019 ISSUE NO. 11
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