Oregon partner sells American-made irrigation equipment in Mexico
As OPIC prepares to travel to Portland, Oregon to kick off our 2017 Expanding Horizons workshop series for U.S. small businesses, we are featuring one of our Pacific Northwest partners, Wade Rain, Inc. OPIC supports Wade Rain with political risk insurance to support the sale of American-made irrigation equipment to Mexico. OPIC political risk insurance allows American businesses to expand into emerging markets, mitigating risk to help them compete in the global marketplace.
Wade Rain, of Tualatin, Oregon, is the oldest family-owned business in the state. Founded in 1865, the company has expanded its operation by selling increasingly advanced equipment that enables farmers to irrigate in a targeted manner, dramatically reduce water consumption, and preserve crops through periods of drought. Today overseas sales account for about 80 percent of Wade Rain’s revenue. Since its entry in the Mexican market in 2007, Wade Rain has grown into a major supplier of irrigation equipment in Mexico and procures the vast majority of its irrigation equipment from U.S. suppliers.
“OPIC political risk insurance gave us the confidence to do business in Mexico,” said Wade Rain President Ed Newbegin.
On May 4 in Portland, small businesses are welcome to attend OPIC’s half-day seminar to learn about the benefits of expanding overseas and the OPIC finance and political risk insurance tools that can support them. Register and learn more about OPIC’s Expanding Horizons workshops here.