Supporting American businesses in the global economy: Ellicott Dredges
Ellicott Dredges LLC is an American small business that manufactures cutter-suction dredges that are used around the world to control flooding and make waterways passable. The company’s work in global markets dates to the construction of the Panama Canal in 1907.
In more recent years, Baltimore-based Ellicott has sold its equipment in multiple and post-conflict markets. In Iraq, India and other markets, the company has used OPIC political risk insurance to help ensure these transactions go smoothly.
In this recent post for the U.S. Chamber of Commerce, Ellicott President and CEO Peter Bowe described both the challenges and the opportunities that American small businesses faced operating in the global economy, and the ways that OPIC political risk insurance had helped it mitigate the risks so it could take advantage of the opportunities.
“From Kashmir to Baghdad to the Suez Canal, OPIC has helped us win business and conduct it profitably,” Bowe wrote. “For us, and small businesses like ours, the support of OPIC is instrumental. I don’t think we’d be able to operate in some of those markets without OPIC.”
OPIC awarded Ellicott the 2014 OPIC Impact Award in the American Small Business category.