Branstad, Reynolds, Northey, Durham ask congressional delegation to support Ex-Im Bank

Export-Import BankFrom Press Release


Iowa Gov. Terry Branstad, Lt. Gov. Kim Reynolds, Sec. of Agriculture Bill Northey and Iowa Economic Development Authority director Debi Durham today sent a letter to Iowa’s congressional delegation encouraging the passage of Trade Promotion Authority, reforming and reauthorizing the Export-Import Bank, and authorizing market-opening trade to encourage economic development and family income growth. The letter can be read here.

Since 2010, Iowa’s exports have increased by nearly 39% from $10.87 billion in 2010 to $15.1 billion in 2014.

“Lieutenant Governor Reynolds and I are proud that Iowa’s exports reached record levels last year at over $15 billion, increasing our state’s exports by nearly 39 percent since 2010,” said Branstad. “If we are to continue this strong growth – which creates jobs and increases Iowa family incomes – we know that Congress and the President must continue to look for opportunities to expand the global market for high-quality Iowa products.”

“As I prepare to lead a trade mission to Brazil this week, I am reminded that the United States should be a global leader in breaking down trade barriers, as great nations embrace trade,” said Reynolds. “Our nation should welcome a more transparent, rules-based system of trade around the world that helps our businesses, workers, and farmers excel in a dynamic, global economy.”

The Brazil mission that Reynolds is leading is comprised of visits to Sao Paulo and Ribeirão Preto.  Highlights for the mission include exploring foreign direct investment opportunities, meetings with government and industry association officials, briefings on Brazil’s trade market and Growing Iowa’s Global Partnerships events.  Iowa companies will participate in meetings specific to their market entry or expansion needs.

“The Iowa Economic Development Authority continues to look to international trade and investment to expand economic development opportunities here in Iowa,” said Durham. “Since the governor and lieutenant governor took office, over $11 billion in private capital investment has occurred in our state. Congress’ ability to continue opening global trade markets will mean more jobs through high-quality economic development projects.”