BOISE — The U.S. Small Business Administration has awarded Idaho a State Trade Expansion Program Grant of $600,000 for projects to occur from Sept. 30 through Sept. 29, 2020. This is a matching fund award that will support Idaho companies in exporting products internationally.
The program will be administered by Idaho Commerce. The state has received the grant since 2011. In Federal Fiscal Year 2015, Idaho companies reported successful returns of nearly 40:1 from the program.
Using STEP funds, Idaho Commerce and the Idaho State Department of Agriculture will support small businesses with activities such as organizing industry-specific trade shows and missions, as well as facilitating a direct financial assistance award program. Eligible companies applied for funds on a competitive basis to target approved export projects, with awards ranging from $2,000 to $3,800 per project.
On Sept. 25, $114,080 was awarded to 17 Idaho small businesses in industry sectors ranging from manufacturing and agriculture to aerospace and outdoor recreation. Projects range from sales trips to Australia and Norway to exhibiting at some of the world’s largest international industry trade shows in France and Germany.