OPIC to Hold Workshop for Small Businesses in the U.S. Gulf Region
March 26, 2012
WASHINGTON, D.C. – Small businesses in the U.S. Gulf region will have an opportunity to learn how to gain access to lucrative emerging markets overseas with the support of the U.S. Government’s development finance institution, the Overseas Private Investment Corporation (OPIC), when OPIC hosts a workshop in New Orleans on May 10.
Since its establishment in 1971, OPIC has committed more than $10.1 billion in financing and political risk insurance to projects sponsored by companies in the five Gulf states – Alabama, Florida, Louisiana, Mississippi and Texas – supporting nearly 12,000 jobs in the region (data current as of September 30, 2011).
The Expanding Horizons workshop will outline for participants the innovative financial tools that OPIC has used for 40 years to help U.S. businesses successfully invest in emerging markets. Special emphasis will be placed on opportunities in the renewable energy and clean technology sectors, an OPIC priority.
Speakers will include senior government officials from OPIC, as well as from the Small Business Administration, the Export-Import Bank of the U.S., the U.S. Trade and Development Agency, the U.S. Department of Commerce, including the U.S. Commercial Service and the Minority Business Development Agency.
The OPIC workshop will be held Thursday, May 10, at the Sheraton New Orleans at 500 Canal Street. Companies interested in attending should register online at www.rgameetings.com/opic.
OPIC has enjoyed a close relationship with the Gulf states, enabling many of the region’s businesses to invest successfully in emerging markets. In addition to the financial commitments and jobs supported, OPIC projects involving Gulf companies have since 1971 generated $10.2 billion in U.S. exports and supported more than 45,000 U.S. jobs across the country. Goods and services provided by Gulf suppliers to OPIC projects are valued at $4.1 billion.
The event is the latest in a highly successful series that has educated nearly 1600 small and medium-sized business owners across the United States about OPIC products and services. Since 2006, OPIC has held Expanding Horizons workshops in Atlanta, Chicago, Los Angeles, Miami, Newark, Houston, San Francisco, Boston, St. Louis, Denver, Philadelphia, Orange (CA) and Raleigh.
OPIC is the U.S. Government’s development finance institution. It mobilizes private capital to help solve critical development challenges and in doing so, advances U.S. foreign policy. Because OPIC works with the U.S. private sector, it helps U.S. businesses gain footholds in emerging markets catalyzing revenues, jobs and growth opportunities both at home and abroad. OPIC achieves its mission by providing investors with financing, guarantees, political risk insurance, and support for private equity investment funds.
Established as an agency of the U.S. Government in 1971, OPIC operates on a self-sustaining basis at no net cost to American taxpayers. OPIC services are available for new and expanding business enterprises in more than 150 countries worldwide. To date, OPIC has supported more than $200 billion of investment in over 4,000 projects, generated an estimated $75 billion in U.S. exports and supported more than 276,000 American jobs.