New York State Seeks to Boost International Trade
Governor Cuomo announced the state's launching initiatives to help small businesses working to enter new global markets.
New York will offer financing help to small businesses looking to boost their overseas exports as part of a larger initiative to spur international trade, Gov. Andrew Cuomo announced Tuesday.
Cuomo's effort will also include upcoming trade missions to Mexico, Canada, China, Israel and Italy.
The financing proposal consists of $35 million in state funds set aside for loans and grants to small businesses working to enter new markets. The governor's office says more than 20 private lenders have also agreed to participate by offering another $50 million or more in loans.
The state will also partner with the federal Export-Import Bank to provide short-term loans of up to $500,000 to New York small businesses.
Gov. Andrew Cuomo announced the program Tuesday at an international trade forum in New York City. The meeting included business leaders, government officials and representatives from 30 nations.
"Opening up those global markets is now the next step for us," he said.
The trade missions would occur in Cuomo's second term if he wins re-election next month.
Cuomo has rarely left the state since he took office, saying Tuesday that he was focused on his job in New York state and that he didn't want to fuel speculation that he was preparing for a presidential campaign.
"If you have a New York governor who starts to travel in other states, right away they look for other political motivations," he said.
The governor's travel habits now appear to be changing.
In August the governor led a state trip to Israel to show support for that nation during its conflict with Hamas. Last month he visited military personnel in Afghanistan.
"I went to Israel for my job. I went to Afghanistan for my job," he said. "The trade missions will be for my job."