Export-Import Bank touted to build economy
cincinnati.com – Every $1 billion in exports creates an additional 15,000 jobs, according to U.S. Sen. Sherrod Brown.
That's why the Ohio Democrat was in Cincinnati Monday along with U.S. Rep Steve Driehaus, D-West Price Hill, pushing the efforts of the Washington-based Export-Import Bank, a self-sustaining federal agency that helps guarantee loans for U.S. companies looking to start or expand their international business.
"Jobs in export pay better on average and usually have a multiplier effect," said Brown at the Cincinnati USA Regional Chamber, which hosted the seminar put on by the Export Bank. "One manufacturing job translates into four or five other jobs in the community in which it is located and along the supply chain.
"When a company here can increase its exports by $1 million, that's a couple dozen jobs in Cincinnati plus the multipliers, so we know it matters."
