U.S. business – Ex-Im Bank “one of the most important tools we have to grow U.S. exports and jobs”

March 28, 2012

The Honorable Harry Reid
Majority Leader
United States Senate
Washington, DC 20510

The Honorable Mitch McConnell
Republican Leader
United States Senate
Washington, DC 20510

The Honorable John Boehner
Speaker of the House
U.S. House of Representatives
Washington, DC 20515

The Honorable Nancy Pelosi
Minority Leader
U.S. House of Representatives
Washington, DC 20515

Dear Congressional Leaders:

The undersigned companies and associations view the U.S. Export-Import Bank (Ex-Im) as one of the most important tools we have to grow U.S. exports and jobs. Accordingly, we support a swift reauthorization of Ex-Im and appreciate your efforts to quickly move legislation that will reauthorize the Bank before its extension expires on May 31. Ex-Im is the only tool manufacturers have to offset the financing support our competitors receive from their governments. The ability of U.S. companies to maximize their exports is more important than ever to U.S. manufacturers.

During FY2011, Ex-Im Bank supported more than $40 billion in export sales from more than 3,600 U.S. companies, supporting approximately 290,000 export-related American jobs. The Bank also set a record in its support of small business. More than 85 percent of the Bank’s transactions last year directly supported small businesses.

The Ex-Im Bank is effective in enhancing U.S. manufacturing competitiveness, at no cost to the taxpayer. Ex-Im Bank generates enough fees to offset its costs and contributes the remaining surplus to the U.S. Treasury. Reauthorization will enable the Bank to continue generating positive revenues for the U.S. Treasury. Any impartial analyses of the Bank’s track record will show it is an employment generator that also helps reduce the federal deficit.

The Ex-Im Bank’s charter expired on September 30, 2011, and the Bank is currently operating under an extension that expires on May 31. Failure to act quickly on a long-term reauthorization threatens the many American jobs that depend directly or indirectly on its crucial export financing. Reliable access to export financing is a vital part of being globally competitive, and the Ex-Im Bank has taken on even greater significance in today’s turbulent financial environment. Exporters have more difficulty in obtaining credit and working capital than ever before, and overseas customers are financially stretched. Those customers will continue to place a high priority on favorable financial terms.

The Ex-Im Bank is the only tool American manufacturers have to counter the huge sums of export financing – many hundreds of billions of dollars – that other governments provide their exporters. If American manufacturers lose access to the Ex-Im Bank, our ability to compete globally will be severely curtailed. Companies large and small will be disadvantaged, and their customers may turn to foreign competitors that have support from aggressive foreign export credit agencies.  America’s manufacturers cannot afford to be defenseless in today’s global marketplace.

Delaying Ex-Im Bank reauthorization will hurt U.S. manufacturers of every size. We urge you to move swiftly on legislation that will provide a stable, long-term reauthorization and a significant increase in the Bank’s lending authority. We appreciate your consideration, and we stand ready to be helpful as we all work toward the goal of doubling America’s exports.

Sincerely,

A.O. Smith Corporation

A.W. Chesterton Company

ABB Inc.

Abicor Binzel

ACE Clearwater Enterprises

Ace Pump Corporation

Advance Equipment Mfg. Co.

Aerospace Industries Association

Aerospace Technologies Group, Inc.

AGCO Corporation

Ahaus Tool & Engineering, Inc.

Air Products and Chemicals, Inc.

Air Tractor

Alcoa Inc.

Alert Stamping & Mfg. Co., Inc.

Allied Machinery Corp.

ALOM

aMAEzing, LLC

Amercian Gear Manufacturers Association

American Apparel & Footwear Association (AAFA)

American Crane & Equipment Corporation

American Fiber Manufacturers Association

American Institute for International Steel

American Locker Group Incorporated

American Petroleum Institute

Ampal Incorporated

Ampco Safety Tools

AMT – The Association For Manufacturing Technology

Applied Materials, Inc.

AREVA Inc.

Arizona District Export Council

Arizona Manufacturers Council

Arrow Adhesives Co.

Associated Industries of Massachusetts

Associated Oregon Industries

Association of Equipment Manufacturers

Association of Washington Business

Atlantic Concrete Products Inc.

Atlantis International, Inc.

B&B Manufacturing

Bally Technologies, Inc.

BBVA Compass

Behlen Mfg. Co.

Bell-Memphis, Inc

Belton Industries, Inc.

Billco Corporation

Bingaman & Son Lumber Inc

Bishop-Wisecarver Corporaiton

Bison Gear & Engineering Corp.

BLS Enterprises, Inc.

Bondioli & Pavesi Inc.

BoResearch, Inc.

Bray International, Inc.

BTE Technologies, Inc.

Business Council of Alabama

Business Roundtable

California Manufacturers & Technology Association

Camino Real District Export Council

CAP Worldwide

Carolina Color Corporation

Casa Herrera Inc

Case New Holland Inc.

Caterpillar

CCN Law Firm

Ceilings Plus

Centennial Bolt, Inc.

Chambers of Commerce Alliance, Ventura/Santa Barbara Counties

Charleston Metro Chamber of Commerce

Chemstar Products Company

Chester-Jensen

Cinram

Citi

City of Austin

Click Bond, Inc.

Coalition for Employment through Exports

Commercial Creamery Co.

Continental Heat Treating, Inc.

Control Technology, Inc

Cordova Bolt, Inc.

Cox Manufacturing Co., Inc.

Crafted Plastics Inc.

CropLife America

Deep Sea Fisheries Inc.

Deere & Company

Deft, Inc.

Delaware Manufacturing Association

Delmont Laboratories, Inc.

Delta Electronics Mfg. Corp.

deVan Sealants, Inc.

Dietz & Watson, Inc

DRT Mfg. Co.

Duke Manufacturing

Dunmore Corporation

Eaton Corporation

Echometer Company

Economic Alliance Snohomish County

Electrocube, Inc.

Ellicott Dredge Enterprises

Emergency Committee for American Trade (ECAT)

Exide Technologies

F.M. Howell & Company

Fabricators and Manufacturers Association, International

FC Industries, Inc.

Fecon

Finishing and Plating Service

Flux Drive, Inc.

Forging Industry Association

Franklin Manufacturing Inc

Fredon Corporation

Free Trade Alliance

Free Trade Alliance San Antonio

French Oil Mill Machinery Co

Gaya imports

GE

General Aviation Manufacturers Association

General Converting, Inc.

General Machine Products Co., Inc.

Georgia Association of Manufacturers

GFS Chemicals, Inc.

Gilson Inc.

Goodrich Corporation

Grand River Rubber & Plastics Company

Greater Houston Partnership

Greater Irving-Las Colinas Chamber of Commerce

Greenheck Fan Corporation

Hardinge Inc.

Hawkeye Steel Products, Inc

HE&M Inc

Heatbath Corporation

Hexcel Corporation

Hoerbiger Corporation of America, Inc.

Hoffinger Industries, Inc.

Honeywell

House of Cheatham, Inc.

Houston District Export Council

Houston International Trade and Development Council

Houston International Trade Development Council, Inc

Illinois District Export Council

Inalfa Roof Systems Inc.

INDA-The Association of the Nonwoven Fabrics Industry

Industrial Sales & Mfg., Inc

Infitec, Inc.

International Trade Association of Greater Chicago

International Trade Center UTSA

Iowa Association of Business and Industry

J. Palazzolo Son,inc.

Jackson Area Manufacturers Association

Jade Engineered Plastics, Inc

JAM International Co., Ltd.

JCM Industries, Inc

Johnson City/Jonesborough/Washington County TN Chamber

Johnstown Wire Technologies, Inc.

K.R. Komarek Inc.

Kelsun Distributors

Kenall Mfg Co

Kercher Industries, Inc.

KMG Chemicals

Koller Enterprises, Inc.

Kramer Global Advisory LLC

La Deau Hinge Company

Lake Region Medical

Lansing Regional Chamber of Commerce

Laserage Technology Corp.

Leatherwood Manufacturing Inc.

Littleford Day, Inc.

Lockheed Martin Corporation

Lonza (formerly Arch Chemicals, Inc.)

Lord Corporation

Lr Centre International de Lafayette

Mack Trucks, Inc.

MACNY – The Manufacturers Association

Manufacturers Association of Florida

Marlin Steel Wire Products LLC

Materion Technical Materials

Meadows Mills ,Inc

Meggitt USA

Meritor

Metl-Span LLC

Metraflex

Meyer Tool Inc.

Michigan Manufacturers Association

Micro Abrasives Corporation

Milan Express Co., Inc.

Miller Industries

Millipart Inc

Miltec Corporation

Miner Elastomer Products Corporation

Mississippi Marine Corporation

Missouri Association of Manufacturers

Mobile Area Chamber of Commerce

Moore Industries International Inc.

MTS Systems

Myers Industries

Nanocerox

National Association of Manufacturers

National Council for Advanced Manufacturing

National Council of Textile Organizations

National District Export Council