For Immediate Release October 31, 2016
CHAIRMAN AND PRESIDENT OF EXPORT-IMPORT BANK OF THE UNITED STATES VISITS CORONA MANUFACTURERS
CORONA, CA– The Chairman and President of Export-Import Bank of the United States (EXIM), Fred P. Hochberg, visited Corona last week for a roundtable discussion with local manufacturers on the importance of exporting and how EXIM can equip Southern California manufacturers to compete in the global marketplace and win sales.
EXIM is the official export credit agency of the United States and is an independent, self-sustaining federal agency. With the help of EXIM, U.S. exporters are assured their bottom line will be protected should their foreign customers fail to pay. This support helps to encourage and expand exporting in the U.S., all at no cost to U.S. taxpayers.
According to a recent press release, EXIM has financed nearly $235 billion worth of exports since 2008. Those exports supported more than 1.4 million jobs since 2009.
“Southern California businesses produce goods and services the rest of the world wants and needs in order to grow,” said Hochberg. “With 95% of consumers living beyond our borders and a growing global middle class, it’s critical that California businesses have access to the financing they need to grow export sales.”
The event, which boasted approximately 45 attendees, comprised of local manufacturers, associated businesses, federal government officials and Corona City Council, was hosted at Combustion Associates, Inc. (CAI) in Corona and included a tour of the manufacturing facility.
“It was such an honor to host Chairman Hochberg of EXIM Bank today,” said Kusum Kavia, owner of CAI. “EXIM has really helped us to export our products and has been instrumental in our growth.”
CAI manufactures an array of packaged combustion and gas turbine-power generation systems from their location in Corona. They export to clients all over the world.
“Our small business counts on exports and EXIM Bank to grow our business,” said Kavia.
Mayor Jason Scott recently issued a Proclamation, making October “Manufacturing Month” in Corona to bring attention to the fact that manufacturing is alive and well and that the city supports it and encourages exporting.
“This Proclamation will help bring awareness to the hundreds of manufacturers we have in Corona,” said Mayor Scott regarding the Proclamation. “We are proud to have them here and we will continue to encourage their growth in our community.”
About the City of Corona: Corona is located adjacent to Orange County California at the junction of the 91 and 15 freeways with a population of more than 160,000 residents. For more information regarding The City of Corona visit www.DiscoverCorona.com
About Export-Import Bank of the United States (EXIM):
EXIM Bank is an independent federal agency that fills gaps in private export finance in order to bolster U.S. job growth at no cost to American taxpayers. EXIM provides trade financing solutions – including export credit insurance, working capital guarantees, and guarantees of commercial loans to foreign buyers – to empower exporters of U.S. goods and services. For more information regarding EXIM visit http://www.exim.gov/what-we-do
Economic Development Manager