Grants available to help companies grow exports
The Bluegrass Economic Advancement Movement, in partnership with the JPMorgan Chase Foundation, today announced they are now accepting grant applications aimed at helping small to mid-size companies grow their export potential.
The BEAM International 2.0 Export Promotion Grant Program is funded by a $220,000 grant from the JPMorgan Chase Foundation and will offer individual grants up to $5,000 for the purpose of connecting qualified companies located in the 22-county BEAM region to activities, services and resources that support export development.
“We want to make sure we provide our small businesses with all of the tools necessary to help them enter and succeed in foreign markets,” said Mayor Greg Fischer. “With the BEAM 2.0 Grant Program, we will be able to open doors for many companies in our region that are ready to take the next step.”
By providing assistance with the costs of business development and export services, this program helps companies build a strong foundation, access relevant research, and identify international partners and opportunities.
Funds can be used for an export readiness assessment, market research, international partner search, international business meetings, strategic planning, and improvement of web presence, translation services, trade missions, analysis of supply chain, and cash flow, and additional services to prepare companies to do business in an international marketplace.
“International trade and investment provides a pathway for local businesses to create jobs, attract capital and grow our economy,” said Paul Costel, Managing Director, Commercial Bank, JPMorgan Chase. “JPMorgan Chase is proud to be a part of the BEAM export program and to support innovative planning that will lead to our region’s future economic success.”
Key partner providers include the U.S. Commercial Service/U.S. Export Assistance Center, World Trade Center Kentucky, Small Business Development Center and other regional organizations.
The BEAM 2.0 grant was originally announced in late 2016, with the rollout of the BEAM Global Trade and Investment Plan that was released in collaboration with the Brookings Global Cities Initiative. BEAM was selected to develop these plans to increase the region’s international engagement in support of its broad economic development goals. The first BEAM Regional Export Plan was released in 2013, along with a $200,000 grant awarded by JPMorgan Chase
The deadline for submitting applications is March 10, 2017. Applications for the BEAM International 2.0 Export Promotion Grant, including eligibility requirements, can be found online at https://louisvilleky.gov/government/bluegrass-economic-advancement-movement/beam-international-20-export-promotion-grant
About the Bluegrass Economic Advancement Movement
BEAM was launched by Mayors Fischer and Gray in 2011. Bringing together the 22 counties that include and surround Lexington and Louisville, this strategic partnership implements a regional economic development approach for the Commonwealth’s two largest metropolitan areas. Working together, the Mayors believe they can foster increased growth in manufacturing, and strengthen the foundation of a prosperous future for companies, employees and entrepreneurs.