Accessing Export Funding in Pennsylvania's Beverage Sector

Target Outcomes for Pennsylvania's International Marketing Grants

The Banking Institution's Business Grants for International Marketing program aims to boost Pennsylvania's export economy by supporting mid-sized companies in their international marketing efforts. The program's target outcomes are closely tied to the state's economic development goals and the needs of its business community.

One of the primary outcomes the program seeks to achieve is an increase in export sales among Pennsylvania-based companies. By providing funding for activities such as overseas trade show participation, foreign market sales trips, and website internationalization, the program helps businesses expand their global reach and capitalize on new market opportunities. For instance, a company based in Pittsburgh can use the grant to attend trade shows in Europe, while a business in Philadelphia can participate in a trade mission to Asia. The Pennsylvania Department of Community and Economic Development (DCED) has reported that the state's export economy has been growing, with exports totaling $34.6 billion in 2020. The program aims to build on this momentum by supporting companies that are well-positioned to increase their exports.

Another key outcome is the enhancement of Pennsylvania's business environment. By helping mid-sized companies grow their international sales, the program contributes to the state's economic development and job creation efforts. According to the Pennsylvania DCED, the state's international trade activities support over 440,000 jobs. The program's focus on mid-sized companies also aligns with the state's efforts to diversify its economy and support small and medium-sized enterprises. The program is particularly relevant to companies operating in Pennsylvania's frontier counties, such as those in the north-central part of the state, where economic development opportunities may be more limited.

Metrics for Success

The Banking Institution will measure the program's success using a range of metrics, including the number of companies supported, the value of exports generated, and the number of jobs created or retained. The program will also track the types of activities funded, such as trade show participation and website internationalization, to identify areas of high demand and opportunities for future support. Applicants will be required to report on these metrics as part of their grant reporting requirements.

The program's focus on international marketing and export sales is also aligned with the goals of the Pennsylvania DCED's international trade program, which aims to promote the state's exports and attract foreign investment. By supporting mid-sized companies in their international marketing efforts, the program helps to build a more diverse and resilient economy in Pennsylvania.

Pennsylvania's Competitive Advantage

Pennsylvania's unique blend of industries, including manufacturing, agriculture, and technology, provides a competitive advantage in the global market. The state's location in the northeastern United States, with access to major markets such as New York and Washington, D.C., also makes it an attractive location for international trade. By supporting companies in industries such as energy, natural resources, and life sciences, the program can help to capitalize on these strengths and promote Pennsylvania's exports.

Q: What types of activities are eligible for funding under the Business Grants for International Marketing program? A: Eligible activities include overseas and domestic trade show participation, overseas trade mission participation, foreign market sales trips, translation/interpreter fees, website internationalization, and compliance testing.

Q: How will the Banking Institution evaluate the success of the grant program? A: The Banking Institution will evaluate the program's success based on metrics such as the number of companies supported, the value of exports generated, and the number of jobs created or retained.

Q: Are there any specific industries or sectors that the program is targeting? A: While the program is open to mid-sized companies across various industries, it is particularly well-suited to companies in industries such as energy, natural resources, and life sciences, where Pennsylvania has a strong presence and export opportunities are significant.