OPIC Selects North Carolina's Small Business & Technology Development Center for Partners Program
January 9, 2013
WASHINGTON, D.C. – North Carolina’s Small Business & Technology Development Center (SBTDC) has been named the newest member of the Overseas Private Investment Corporation’s Partners Program, a public diplomacy initiative designed to create a greater understanding within the U.S. business community of OPIC’s role as the U.S. Government’s development finance institution.
The SBTDC, which supports economic growth and job creation in North Carolina by providing management counseling and business advice to SMEs, served as co-sponsor of OPIC’s Expanding Horizons seminar in Raleigh last March, which educated 64 SME owners from across the state about how OPIC products can help them take advantage of lucrative investment opportunities in emerging markets.
Through the Partners Program, OPIC works with selected trade, business and foreign policy organizations nationwide to increase public knowledge of OPIC’s work. By utilizing the resources of geographically-diverse organizations with different memberships, information about OPIC is disseminated to a larger audience.
“OPIC is extremely pleased to add North Carolina’s SBTDC to our Partners Program,” said OPIC Director of Outreach Dr. Lawrence Spinelli. “OPIC and the SBTDC share the same goal – helping North Carolina SMEs grow and create jobs. As a vital informational resource for North Carolina companies looking to expand, the SBTDC will serve as an ideal point of contact for companies which could benefit from OPIC’s products and services. We look forward to a mutually beneficial relationship.”
OPIC has enjoyed a close relationship with North Carolina businesses, enabling many of them to invest successfully in emerging markets. Since 1971, OPIC has provided $816 million in financing and political risk insurance commitments to projects sponsored by North Carolinian companies, which in turn have generated $910 million in U.S. exports and 2,819 U.S. jobs. Moreover, North Carolinian suppliers, half of which are small businesses, are expected to provide $172 million worth of goods and services to OPIC-committed projects, supporting 445 jobs in North Carolina.
The SBTDC is the business and technology extension service of the University of North Carolina system and is administered by North Carolina State University and operated in partnership with U.S. Small Business Administration.
The SBTDC’s International Business Development (IBD) unit assists small and mid-sized businesses with exporting. Their IBD specialists are highly trained, Certified Global Business Professionals (CGBP) with extensive experience in international business development. Their goal is to provide export-related guidance and assistance to SMEs.
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 277,000 American jobs.