State of Illinois STEP Program Offers Export Incentives

As part of the Federal Government’s export initiative to double export sales in 5 years, They have provided a $30 million grant to all states with Illinois landing a $1.26 million for the current year.  This is far more than Indiana’s $100,000 and Wisconsin’s $180,000. The program is called State Trade Export Promotion (STEP) and was introduced toadt at the Eigerlab.

Carrie Zethmayr, Director, Illinois SBDC International Trade Center led the program followed by Patrick Hope US Export Assistance Center and Tom Hagle Illinois Senior International Trade Specialist.

Basically, there are two ways a company may benefit; attending one of ten Trade Missions or Individual Company Assistance. Financial assistance can range from $1,500 to $5,000 per company.  The company must meet certain qualifications such as a minimum of $250,000 profitable revenues, be in business for a year, etc.

This looks like a good opportunity and I a will be taking advantage of it; I’ll let you know how it goes!