OPIC Workshop for Trenton Area Draws 120 Small Business Representatives from 14 States
September 26, 2014
TRENTON, N.J. – The Overseas Private Investment Corporation, the U.S. Government’s development finance institution, this week drew more than 120 guests to its Expanding Horizons small business workshop in Trenton. The workshop is part of a series OPIC hosts each year to educate small businesses about the benefits of expanding into developing markets, and the ways OPIC can support them.
“This conference in Trenton brought OPIC to one of the most important and vibrant hubs for business in the country,” said OPIC’s Director of Outreach and Public Affairs Dr. Lawrence Spinelli. “Trenton sits at a crossroads of transport, manufacturing, and engaged, diverse groups of diaspora groups. This region is rich with historical industry and forward-thinking innovation, and this was displayed firsthand by those who OPIC was proud to welcome to this event.”
The keynote speaker was Glenn Camp, co-founder and CEO of Enviro Board, a New Jersey-based company with developing market operations that manufactures low-cost, environmentally friendly building panels from recycled agricultural waste.
OPIC speakers outlined the innovative tools including financing and political risk insurance that the agency has provided for more than 40 years to help U.S. businesses successfully invest in emerging markets. Other speakers at the workshop included senior government representatives from the U.S. Trade Development Agency, the Minority Business Development Agency, the Small Business Administration, the Export-Import Bank of the U.S., and the U.S. Department of Commerce.
Since its establishment in 1971, OPIC’s support of $1.8 billion of financing and insurance commitments to projects sponsored by New Jersey companies has supported over 13,000 U.S. jobs, generated $3.1 billion in exports and an estimated $573 million in procurement of goods and services from the state. Small businesses and job growth have also benefitted from OPIC support in neighboring Pennsylvania, Delaware, Connecticut and New York.
The September 23 Trenton event was the latest in a highly-successful series that has reached over 2,800 small and medium-sized business owners across the United States. Since 2006, OPIC has held Expanding Horizons events in Atlanta, Boston, Charleston, Chicago, Cleveland, Denver, Fort Worth, Houston, Los Angeles, Miami, Minneapolis, Newark, New Orleans, New York City, Orange (CA), Orlando, Philadelphia, Phoenix, St. Louis, Salt Lake City, San Francisco, Seattle and Raleigh.
The 2015 schedule of Expanding Horizons Workshops includes workshops in Detroit, Nashville, Boston and Long Beach, Calif.
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 $76 billion in U.S. exports and supported more than 278,000 American jobs.