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MEDC | International Trade: October 2022 Newsletter

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$1.4 Million in MI-STEP Funds Now Available

Michigan has once again received the top award in the nation from the U.S. Small Business Administration State Trade Expansion Program for the upcoming year. Michigan received $1.4 million in federal grant funds – the maximum amount awarded by the SBA – to help Michigan small businesses grow in the state through increased access to global markets.

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The Michigan Strategic Fund is providing an additional $466,666 as the state match to support MI-STEP, now in its 11th year of supporting financial assistance for exporting activities of eligible Michigan businesses. To date, MEDC’s International Trade program has facilitated more than $4.7 billion in export sales through federal and non-federally funded programs. In fiscal year 2021, export sales generated a total of $558 million for Michigan businesses working with the MEDC.

Applications are accepted October 1 – September 15 for MI-STEP grants to small- and medium-sized businesses. For complete details on how companies can apply for assistance, including eligibility requirements and the application process, visit www.michiganbusiness.org/export or complete the online intake form to start a conversation with an International Trade Manager.

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New and Renewed International Trade Services for Exporters
 
 

MEDC’s International Trade Program is excited to announce its continued partnership with many export service providers into the new fiscal year. Available now, the program has also added an international defense market research and B2B matchmaking provider to its portfolio of assistance available to Michigan exporters, along with several new services from past statewide export partners. The service providers and their offerings are listed below.

By working with these dedicated partners, Michigan businesses can learn how to overcome barriers to exporting, identify new markets, access logistics consulting, utilize export legal services, leverage digital business tools, alleviate the challenges of foreign currencies, and more. Talk to your International Trade Manager about getting started with a service provider and strengthen your potential for market entry or expansion today.

  • Ares Technology – international defense market research and B2B matchmaking.
  • Foster Swift – legal assistance and trainings including workshops and one-on-one training on topics such as intellectual property protection, international contracts, and international data privacy compliance.
  • IBT Online – localization of company websites to increase online visibility and grow export sales, as well as international digital marketing solutions.
  • MSU International Business Center – Michigan Export Growth Program custom research reports providing multi-country and industry-specific market research reports, export capacity building seminars, industry export roundtables.
  • MI-SBDC – International Search Engine Optimization (SEO), Early Export Assistance, and self-directed RISE modules to assess export readiness and provide export planning for new exporters, and landed cost analysis.
  • Networks Northwest – Export connectivity in rural regions of the state and apprenticeship referrals.
  • Van Andel Global Trade Center – customized export training on topics including export documentation and export control compliance, workshops for new to export companies navigating the export process, worldwide credit reports, cultural considerations seminars, and more.
 
 
 
 
 
Alibaba and Hello Alice Offer $10,000 Cash Grants
 
 

Alibaba, one of the world’s largest online commerce centers, has partnered with Hello Alice, a free resource helping over one million small businesses launch and grow, to offer a new grant program that enables entrepreneurs to succeed in today’s digital age through e-commerce channels. The program “Manifest” celebrates the creativity of US small and medium-sized businesses and enhances the competitive edge of their products by providing $10,000 cash grants plus up to $5,000 in logistics support to 50 small businesses that have innovative product ideas. Applications are due October 31.

 
 
 
 
 
 
 
 
MI-STEP Funds Lead to International Exposure and Millions in Exports
 
 

Since creating the world’s first automated crankshaft microfinishing machine for Chrysler Corporation in 1947, Lansing-based IMPCO Microfinishing continues to set the standard in microfinishing process quality and system development. The company began working with MEDC’s International Trade program in 2018 to accelerate its export efforts and has received over $12,000 in MI-STEP reimbursement to date for international sales trip expenses, including four trips to Mexico. IMPCO has since reported that these funds were helpful in facilitating over $5.6 million worth of sales to Mexico.

More recently, this continual support by the MEDC landed the company a multiple machine order in June 2022 to help the production of the EV Rotor Shaft to be delivered to OEM plants in Mexico and the U.S. The order is worth $3.5 million and helps maintain the jobs of IMPCO’s 50 employees. “Today we are positioned at the forefront of microfinishing technology and have become the global reference for microfinishing,” said Mark Hendel, IMPCO’s Global Sales Director.

 
 
 
 
 
Upcoming Trade Missions
 
 

January 10-19: India Trade MissionLooking for a great start to your company’s 2023 growth projections? Join Automation Alley’s trade mission to India, a nation of 1.4 billion consumers with an especially strong demand for Michigan-made products, services, and technologies, including advanced manufacturing, design, and engineering services, aerospace/defense, automotive, IT/ICT, and medical equipment. The registration deadline is October 31.

February 13-17: South Africa and Kenya Trade MissionJoin the Great Lakes and St. Lawrence Governors and Premiers multi-sector trade mission to Johannesburg, South Africa and Nairobi, Kenya! Benefit from customized B2B meetings to meet with prospective customers and business partners and allow our in-market International Trade Center to save you valuable time and resources. The registration deadline is December 1.

February 18-25: Trade Mission to IDEXJoin the Michigan Pavilion at IDEX, the only international defense exhibition and conference in the MENA region demonstrating the latest technology across land, sea, and air sectors of defense, with a strong focus on ground-based military. There’s space for only eight companies to exhibit with the MEDC in the USA Pavilion – apply today! Applications are due November 20.

 
 
 
Partner Events
 
 

October 11: Trade Talk Tuesday – Sourcing and Signing Top-Level DistributorsHear from the U.S. Commercial Service in this free, 20-minute discussion on best practices for successfully selecting international distributors. Learn the top factors to consider when qualifying partners and gain insights on how to implement practical systems that encourage your distributors to focus on your products, meet their sale targets, and remain accountable using signed agreements.

October 13: Basics of USMCAJoin the Van Andel Global Trade Center for this full-day, in-person, seminar to learn the USMCA qualification process and features of USMCA. It’s critical for businesses doing business in Canada or Mexico to qualify goods appropriately for preferential duty treatment through USMCA.

October 13: UN Procurement – Aviation Defense and Security RoundtableThe United Nations and the U.S. Commercial Service invite companies supporting UAV, air charter, ISR, and security equipment and services to a digital presentation and roundtable discussion on bidding opportunities across these industries.

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