SBDC’s $300,000 Grant to Open Doors to Latin American Markets

The doors to emerging markets in Latin America will be opening wider for local manufacturers because of a three-year, $300,000 federal grant awarded to the Small Business Development Center (SBDC).

The SBDC, which received one of eight grants nationwide, has proposed bolstering the local economy by promoting international trade and strengthening global competitiveness of Pennsylvania manufacturers.

“Chile, Colombia, Peru and Mexico—the founders of the Pacific Alliance—account for more than 40 percent of all Latin America’s economy,” said Dr. Mary McKinney, SBDC director. “All of these countries are pursuing major infrastructure and construction projects, and they favor U.S. products for their high quality and technological innovation. Pennsylvania has a great reputation for providing the design engineering expertise and construction equipment. This grant will allow us to help local companies match their products with these developing countries’ needs.”

Providing a creative concierge approach, the SBDC will offer a suite of the U.S. Department of Commerce matchmaking and assistance services to targeted firms. The support, from online information, to seminars, webinars, trade shows, trade mission trips and language translations, will be offered from the recruitment stage through the entire sales process.

The program, funded through the U.S. Department of Commerce, expects to generate $107 million of exports over three years and to triple the value of the exports to $300 million for the following four years.

“Tapping into these developing markets is critical for the economic health of the region because manufacturers’ impact on the economy often is greater than the impact of other industries,” McKinney said. “The higher wages paid to employees and the multiplier effect spread the impact across our region.”

Program partners include the SMC Business Council (formerly the Smaller Manufacturers Council), the Pennsylvania Department of Community and Economic Development, and the Southwestern Pennsylvania Commission Regional Export Network.