Exports - New Economic Growth

By Derek Waleko

Trade makes cities, regions, and nations more productive and wealthier.

For every 1% increase nationally in exports, 250,000 jobs are created. Export growth is one of the most important strategic initiatives for job growth. To bring jobs back to our district I will develop the "CD 6 Export Strategy" + a district-focused, ground-up export plan that will drive export growth with the goal of creating quality jobs by increasing exports. The goal is to create a more cohesive, easily understandable, streamlined, efficient, and effective export trade support system for CD 6 SME that will include on the ground professionals, an increased presence on the world stage, specialized market research, and financing. SMEs account for a large portion of GNP generation and employment in the country, with over 350,000 jobs in Los Angeles alone. The low levels of SME participation in exports present a substantial opportunity for CD 6.

Many SMEs would like to expand their product, service or intellectual property to other countries, but are stopped by fear. Fear of the complexity of transactions, fear of the unknown related to foreign markets, fear of not knowing how to find export financing, and fear of the uncertainty of the kinds of home government support they can expect. There is much confusion among SME firms on where and how to begin an export transaction. My office will provide guidance, incentives, and interventions that help companies to overcome these fears. The 6th District will encourage a strong export program, with a proactive outreach approach in identifying, recruiting, preparing, and supporting candidate companies from CD 6.