JPMorgan Chase Pledges Additional $100,000 in Continued Support of the M7 Export Development Grant Program
To date, $383,000 in grant funds have been awarded to 80 local companies that report new export sales growth figures resulting from these efforts totaling $11.93 million
In a continuing effort to grow exports throughout the region, The Milwaukee 7 Regional Economic Development Partnership (M7) launched the Export Development Grant Program presented by JPMorgan Chase in November 2015. The highly-successful program provides financial assistance to small and medium enterprises, both new to export as well as experienced exporters, to enter into new or grow existing international markets. This week JPMorgan Chase announced that they are providing an additional $100,000 to the Milwaukee 7 to continue to benefit companies throughout the region.
To date, the M7 Export Development Grant Program has awarded a total of $383,000 in funding to 80 companies to assist them in growing their export business. Thus far, 49 companies have completed their various projects and reported new export sales growth figures resulting from these efforts totaling $11.93 million. “The majority of the award winners travelled to international tradeshows or participated in trade missions to meet with prospective partners and customers,” explained Chad Hoffman, M7 vice president of trade and investment. “In addition, several companies utilized the U.S. Commercial Service’s Gold Key matchmaking service in conjunction with the tradeshows to make the most of the trip abroad. Multiple companies also utilized the grant to subsidize the cost of ExporTech, a proven program to assist companies in developing a strategic plan to grow exports.”
Each application is reviewed by the program’s Grant Committee, which consist of individuals with diverse international backgrounds and more than 100 years of combined trade experience. The Grant Committee not only evaluates the specific projects being undertaken by the companies, more often than not, they also make recommendations to ensure that each company is fully utilizing the available local, state and federal resources. It is of no surprise that 5 of the 9 semifinalists to receive the Governor’s Export Award at this year’s Wisconsin International Trade Conference are prior M7 Export Development Grant Program awardees.
The additional $100,000 in grant funding provided by JPMorgan Chase will allow the program to continue into the foreseeable future. To apply for the Export Development Grant Program or for additional information and eligibility requirements, companies can start the process by visiting the program website. Applications are now being accepted through June 30, 2018 and funding is made available on a first-come, first-serve basis.
The Milwaukee 7, launched in September 2005, was formed to create a regional, cooperative economic development platform for the seven counties of southeastern Wisconsin: Kenosha, Milwaukee, Ozaukee, Racine, Walworth, Washington and Waukesha. The Milwaukee 7 continues to build the region's capacity and accelerate economic growth.
About JPMorgan Chase & Co. in Wisconsin
JPMorgan Chase & Co. (NYSE: JPM) is a leading global financial services firm with assets of $2.4 trillion and operations worldwide. The Firm is a leader in investment banking, financial services for consumers and small businesses, commercial banking, financial transaction processing, and asset management. In Wisconsin, JPMorgan Chase serves many of the state’s most prominent corporate, institutional and government clients under its J.P. Morgan and Chase brands. It also serves over 1.1 million consumers and small businesses in the state through 79 branches and nearly 170 ATMs, while providing more than $1.6 million annually to Wisconsin charities. The firm uses its global resources, expertise, insights and scale to address some of the most urgent challenges facing communities around the world including the need for increased economic opportunity. For more information about JPMorgan Chase in Wisconsin, call Christine Holevas, 312/732-6206.