The Positive Impact on U. S. Small BusinessesThe U. S. is rarely noticeable on the main street. It is felt all over the world, and joins emerging and middle-income countries. In fact, many sellers play a key role in improving quality. of life in the world to come.
As director of the U. S. Trade and Development Agency. Enoh T. Ebong leads the federal government’s efforts to boost economic development as well as U. S. business interests. In the US, in emerging and middle-income countries. Created in 1992, the USTDA promotes expansion in those countries, while creating American jobs through exports.
Director Ebong and I recently talked about his paintings at USTDA and the role small businesses play. I thank you for taking the time and below is a summary of our discussion.
Rhett Buttle: Many other people and business owners have never heard of the USTDA. What is the USTDA project and what makes the company unique?
Director Ebong: Thank you for the opportunity. The U. S. Trade and Development AgencyThe U. S. has a lot of domestic and foreign stakeholders, and the more they know about us, the better!
The USTDA is a U. S. government enterprise. U. S. with a dual single mission. We are a foreign aid company that develops high-quality sustainable infrastructure in emerging economies abroad. At the same time, our mandate is to create American jobs through the export of American goods and facilities. to the infrastructure projects we help develop. I would like to illustrate how it works.
A few years ago, we funded a feasibility study in Honduras that helped attract a personal sector developer to invest in and build the first large-scale geothermal power plant in Platanares, in the west of the country. The plant opened in 2018. la sister agency, the Overseas Private Investment Corporation (now the Development Finance Corporation) provided $135 million in financing. This plant now produces 35 megawatts of blank, reliable electricity, enough to power about 100,000 homes. The Platanares geothermal power plant was built for the property and facilities of 70 U. S. corporations. U. S. in 17 U. S. states, and we know of at least 8 small U. S. corporations. They were part of the plant’s supply chain.
This assignment is just one example of how the USTDA team can help our foreign partners identify generation and design features for their assignments, as well as infrastructure design agreements that can be funded, implemented, and maintained. It also shows how we can create opportunity for the U. S. U. S. corporations to meet a need in the foreign market.
We also focus on large-scale infrastructure projects. This includes blank power, which is the fastest-developing component of our portfolio, as well as transportation, data and communications technology, and fitness infrastructure. We work in dozens of emerging economies in key regions such as the Indo-Pacific, Latin America and the Caribbean, the Middle East, North Africa, Europe and Eurasia and Sub-Saharan Africa.
The USTDA has a set of teams to fulfill its mission. We provide investment in the form of grants for feasibility studies, such as the one we support in Platanares, as well as technical assistance and pilot projects.
In addition to this assignment preparation work, the USTDA also budgets for partnership building activities that connect foreign appropriation sponsors with U. S. corporations that can provide answers to the demanding infrastructure situations faced by our foreign partners. For example, in 2017, the USTDA funded an opposite industrial allocation. to the United States by Indonesia’s meteorological and maritime leaders seeking answers to strengthen the country’s resilience to grass bugs and climate change. The delegation participated in on-site stopovers, corporate scales, and discussions with U. S. generation providers. , and institutes of studies in the Unidos. La States in Indonesia contributed to the acquisition of meteorology and marine technologies from several American corporations, adding 4 small American corporations. This is a clever example of how the USTDA brings export opportunities to the doorsteps of U. S. corporations. .
Rhett Buttle: What is the direct impact of USTDA jobs on small businesses here at home and abroad?How do they benefit from your agency’s efforts?
Director Ebong: Since the USTDA was founded in 1992, we have facilitated more than $76 billion in U. S. exports. In the U. S. , adding small businesses in 370 communities across the country.
Small businesses play a critical role in the USTDA’s overall decision-making processes and program. For example, we mainly participate in contracts with small businesses to complement our technical review of the proposals we obtain for infrastructure projects abroad. These are wonderful opportunities for small businesses to work in collaboration with the USTDA and have a truly global impact.
To be sure, the USTDA draws on the experience and innovation of American small businesses. We are also committed to the principles of equity, diversity and inclusion. This is a formula for our success. Consider some of our numbers. In fiscal year 2021, the USTDA awarded approximately 82% of the total price of our government contracts to small U. S. businesses. Minority-owned small businesses earned 42% of the total price of our government contracts, and small businesses earned 24% of the total price of our government contracts. These are smart results, but we’re still trying to do more.
Rhett Buttle: You were recently introduced to your role as director of the USTDA. Tell us about your goals and their effect on entrepreneurs.
Director Ebong: Entrepreneurs have had access to the USTDA program, whether they are U. S. -based Americans. U. S. companies expanding overseas infrastructure allocations or foreign merchants who have upcoming infrastructure assignments and need access to the expertise of preparing assignments or cutting-edge technologies for the U. S. UU. empresas. oferta.
I have several goals as a director of the USTDA. La first is to expand our Agency’s ecosystem of opportunities to all U. S. corporations. U. S. citizens who share our mission. This includes specific businesses that have traditionally been underserved, adding small businesses owned by women, belonging to minorities and disadvantaged. To make sure that this opportunity is inclusive and percentage among the wide diversity of commercial companies that exist in this country.
From a sectoral perspective, we are running to expand the Agency’s dynamic portfolio of climate-smart infrastructure allocations in emerging foreign economies. For example, in April 2021, President Biden introduced the USTDA Global Partnership for Climate-Smart Infrastructure. In its first year, we funded more than two dozen allocation preparation and partnership building activities designed to help unlock more than $50 billion in climate finance and more than $12 billion in U. S. exports. U. S. for the USTDA, the U. S. and our partners abroad.
Rhett Buttle: As an agency, can you describe how the USTDA works between agencies and departments, such as the Small Business Administration and the U. S. Department of Commerce?Usa, to fulfill its mission?
Director Ebong: UsTDA’s inter-company coordination begins with the White House. For example, Biden-Harris management has called for USTDA’s participation in several previous global initiatives, adding the Partnership for Global Infrastructure and Investment, which was introduced last month through the president and G-7 leaders. The USTDA has also been designated as the executing firm of the January 2021 Executive Order on how to address the climate crisis at home and abroad.
In previous projects like these, the USTDA participates in the processes of the Interagency Political Committee led by the White House National Security Council. We then work with our interagency spouses to coordinate our respective teams to implement the Administration’s priorities. The closest partner agencies come with the Export-Import Bank, the Department of Commerce, the Development Finance Corporation, the Millennium Challenge Corporation, and USAID. shared foreign priorities. The extent of our collaboration within the U. S. governmentUU. es remarkable and is taking a stand at all levels within our respective agencies.
For example, as a component of the U. S. government’s Power Africa initiative. In the U. S. , the USTDA was part of a government-wide effort to help Illinois small business Weldy-Lamont Associates win a major rural electrification allocation in Senegal. We funded an opposite industrial allocation for the U. S. The U. S. army presented Senegalese force officers with U. S. responses. He offered specialized educational assistance if Weldy was chosen for assignment. USAID referred Weldy to the USTDA. In addition, the U. S. Departments of Commerce and State. U. S. officials have defended Weldy before the Senegalese government. When Weldy was selected regardless, the Export-Import Bank approved $91. 5 million in funding for the task, equivalent to about 500 U. S. jobs. U. S. in nine U. S. statesThis is a wonderful example of how U. S. government agencies are able toUU. se coordinate with U. S. corporationsabroad.
Nationally, we collaborate heavily with the U. S. Department of Commerce. The U. S. Small Business Administration (SBA) and the U. S. Small Business Administration (SBA)We use the U. S. Department of Homeland Security to make sure small businesses are aware of the very distinct but complementary missions and facilities we can offer. Both Commerce and the SBA have an incredible national network of professionals who refer corporations to the USTDA who want to explore exporting goods and infrastructure facilities to emerging economies overseas. Similarly, the USTDA refers corporations to Commerce and SBA for facilities related to their express missions.
Rhett Buttle: What effect has the Covid-19 pandemic had on the USTDA and its partners?
Ebong Director: Thanks to proper preparation, the USTDA was able to temporarily move into a virtual painting environment the early days of the Covid-19 pandemic in March 2020. With a little creativity and changes in our operations, we were able to continue our task preparation work virtually. However, several of our events had to be postponed. The result is that we have a very busy and active calendar of events for the rest of 2022 and until 2023. USA. USA Corporations deserve to turn to our online page and find out how they can get involved.
During the pandemic, we learned how our previous infrastructure development jobs have helped our foreign spouses manage the economic effect of Covid. For example, a spouse in Brazil told us that our support to help them expand greater broadband capacity allowed them to take care of a very large web traffic inflow into their region in early Covid, when many works went virtual. And we learned how our assistance in implementing a national fitness computing task in Jordan helped help the covid-19 tracking and healthcare delivery in difficult circumstances. In all cases, the American generation that was deployed with the help of the USTDA ultimately facilitated those countries’ ability to cope with the pandemic.
Rhett Buttle: Is there anything else you’d like to add?
Director Ebong: In addition to a very warm “thank you,” I encourage others to visit our online page and follow us on our social media platforms, adding Twitter, Facebook, LinkedIn, and Instagram. On our online page, not to subscribe to our news and alerts. This is the most productive way to get USTDA-funded opportunities right in your inbox.