World Trade Center Arkansas Receives STEP Grant

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The World Trade Center Arkansas has been named a recipient of a $500,000 State Trade and Export Promotion Program grant. World Trade Center Arkansas is a part of the University of Arkansas providing a global educational and business experience.

As authorized by the Small Business Jobs Act of 2010, the U.S. Small Business Administration is providing $30 million in STEP grants to states and territories for the purposes of increasing small business exports in the next 12 months. This is directly in accordance with President Obama’s National Export Initiative, which seeks to double U.S. exports in five years – and in so doing, supporting 2 million jobs. The program provides federal government funding for 65 to 75 percent of program costs. States will provide the remainder.

Specifically, the funding is intended to support participation in foreign trade missions, foreign market sales trips, subscriptions to services provided by the Department of Commerce, website translations fees, design of international marketing media, trade show exhibitions, participation in training workshops and other critical export initiatives.

Founded in 2007, the World Trade Center Arkansas and its staff are passionate about connecting Arkansas to the world by providing international trade services to companies, agricultural producers, and entrepreneurs, as well as by educating students in global commerce.

In order to more effectively implement the STEP grant toward these ends, WTC Arkansas will partner with the U.S. Small Business Administration, Service Corp of Retired Executives, Small Business Development Centers, US Department of Commerce, the University of Arkansas and the Arkansas Economic Development Commission.

For additional information about the STEP grant program, visit http://www.sba.gov/about-offices-content/1/2889/resources/14315.