09 STEP Deanna Richeson MEDC
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09 STEP Deanna Richeson MEDC

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  • Federal initiative supporting President Obama’s commitment to double US exports by 2015. 2010 MI Exports=$44.5B Canada= Mexico= China= Germany= Japan= __________________________________ MI was #3-4 Now #8 for Top Exporting State Our Proposal is more competitive with Greater Match
  • INTER-CONNECTEDNESS DOC – Statewide AG – Statewide SBA – Statewide SBTDC – Statewide ALLEY – SE MI, DOC+SBTDC+SBA MSU – DOC+AG+SBTDC VAGTC/FT2 – West MI, DOC+SBTDC+SBA U of M – ( )+SBTDC+Ypsilanti WAYNE STATE – DOC SVSU – DOC, AG, SBTDC, SBA, PTAC PORT LANSING – DOC, SBTDC, MSU, VAGTC ___________________________________________ CAPACITY GAPS: Ann Arbor Regional Partners – Alley, VAGTC, DOC Interns AG Urban Initiative – Tech Town, Schoolcraft College, Allen Park

09 STEP Deanna Richeson MEDC 09 STEP Deanna Richeson MEDC Presentation Transcript

  • PURE MICHIGAN STATE TRADE and EXPORT PROMOTION (STEP) PROGRAM For Global Access Export Forum November 18, 2011 By Deanna Richeson MEDC Director, Export Office
  • Pure Michigan STEP Export Program
    • OVERVIEW
    • National Export Initiative goal to double exports in five years (by 2014)
    • Small Business Administration (SBA) State Trade & Export Promotion (STEP) Pilot Reimbursement Program
    • $30 million/year nationwide for 3 years
  • Pure Michigan STEP Export Program
    • $2 million Michigan STEP Program for FY2011-12
    • $1.5 million SBA award to the MEDC
    • $0.5 million MEDC match
    • Objectives:
    • Increase Michigan’s export sales
    • Increase number of Michigan companies exporting
    • Introduce Michigan’s current exporters to new foreign markets
    • Increase Higher Paying Jobs
    View slide
  • STATEWIDE PARTNER COLLABORATION
    • Multipliers
      • Banks
      • Law Firms
      • Accounting Firms
    • Next Tier of Regional Partners
    US Department of Commerce Saginaw Valley State University SBA MI SBTDC MI Department of Agriculture Van Andel Global Trade Center Automation Alley Banks, Law Firms & Accounting Firms Lansing Regional Chamber University of Michigan Michigan State University Wayne State University View slide
  • Pure Michigan STEP Export Program
    • ROLE of REGIONAL EXPORT HOSTS (RENs)
    • Customize the region’s export strategy
    • Promote export opportunities & connect SMEs to export resources
    • House MEDC’s International Trade Development Manager (ITM)
    • Facilitate STEP grant applications
    • Facilitate pre-approved STEP grant reimbursements
    • Cover 19-36 counties
  • Pure Michigan STEP Export Program
    • WHO CAN QUALIFY
    • Have 500 or fewer global employees
    • Provide an Employer Identification Number (EIN) linked to a Michigan address
    • Be in good standing with Michigan Department of Treasury and other federal, state and local government agencies
    • Have the commitment and ability to export to foreign markets (export-ready)
  • Pure Michigan STEP Export Program
    • ELIGIBILITY TIERS
    • Tier 1
      • Early stage company; never exported
      • Will benefit from SBTDC consultation, training and market research
      • Need to complete only the STEP Intake form
    • Tier 2
      • Strong domestic sales track record; strong financials
      • Never exported or reactively exported
      • 50% reimbursement up to $10,000 for qualified export activities
      • Need to complete STEP Intake form, Company Profile and STEP Grant request
    • Tier 3
      • Established international sales; proactive export sales strategy
      • Selling in one or more foreign markets
      • 50% reimbursement up to $25,000 for qualified export activities
      • Need to complete STEP Intake form, Company Profile and STEP Grant request
  • Pure Michigan STEP Export Program
    • ALLOWABLE USES OF STEP FUNDS
    • STEP funds may support, but are not limited to, marketing-related activities such as:
      • Overseas trade mission participation
      • International or domestic trade show participation
      • Foreign market buyer missions
      • Subscription to U.S. Department of Commerce services
      • Website development related to international trade
      • Language translation of marketing materials
  • Pure Michigan STEP Export Program
    • HOW IT WORKS
    • Interested SME applicants submit an Intake Form at www.MichiganAdvantage.org/export
    • Intake Forms are reviewed and assessed for eligibility by MEDC export staff within 5 days of submission
    • If eligible, applicants are assessed as Tier 1, 2 or 3
    • If ineligible, applicants are notified with reason for denial, and invited to resubmit if appropriate
    • Tier 1 will be referred to resources for export training, market research and consultation. They do not need to complete the STEP Company Profile
    • Tiers 2 and 3 will be contacted by the ITM and invited to complete the STEP Company Profile and STEP Export Grant Agreement
  • Pure Michigan STEP Export Program
    • REQUESTING APPROVAL FOR A STEP GRANT
    • STEP Export Activity Summary and Budget must be submitted at least 30 days prior to incurring expenses, or 60 days if travel is included in the activity
    • Estimated expenses must be approved in advance by REN/ITM to assess measurable economic impact and ensure SBA approval of export activity
    • Applicants agree to track results of funded export activities and share with REN/MEDC
    • Applicants must respond to quarterly surveys and provide export sales total, export transactions and business activities resulting from STEP program
    • Applicant must pay for qualifying activities to receive 50% reimbursement
  • Pure Michigan STEP Export Program
    • OBTAINING REIMBURSEMENT
    • All receipts and proof of payment documentation must be submitted to REN within 30 days of export activity
    • REN and ITM will verify that receipts align with approved STEP grant
    • If documentation is complete, applicant will receive reimbursement within 30 days of submission.
    • REN will notify applicant within 2 weeks of submission if documentation is incomplete; applicant will be asked to resubmit with complete information
    • Documents will be subject to state and federal review and audit
  • Pure Michigan STEP Export Program
    • If you have questions , please contact :
    • Your Regional Export Network Host (see REN Map)
    • or MEDC Export Office www.MichiganAdvantage.org/export
    • Thank you!