Dec 06 2013
Opening Markets
During the Senate’s two-week state work period over the Thanksgiving holiday, I spent time touring health facilities, businesses, and manufacturing plants in various parts of Nebraska. I also sat down with local business leaders to discuss what’s helping and what’s holding back local economic development. A recurring theme in these conversations was the importance of encouraging new export opportunities for Nebraskans.
In a time of sluggish economic growth, increased exports stimulate other sectors of our economy while also helping to generate new business, create jobs, and increase wages. Stronger trade partnerships also benefit consumers here in America.
Nebraska has established itself as a reliable source of world-class products and a wise investment location for other countries. In 2012, Nebraska’s total exports of merchandise amounted to nearly $7.5 billion, marking significant growth over recent years. Our state’s vibrant agriculture sector is a vital resource for Nebraska’s exports, and record harvests this year have enabled our country to expand agriculture exports to record levels.
In addition to agriculture, many other industries producing merchandise such as machinery, chemicals, and transportation equipment, contribute billions of dollars to Nebraska’s total export shipments, as well as good-paying jobs. Last year, Nebraska’s manufacturing industry totaled 12 percent of our state’s private sector employees.
I toured John Crane Orion’s manufacturing facility in Columbus, which engineers and produces hydrodynamic bearings for high-speed machinery. While meeting with the plant’s management team, they informed me that the company exports to several different countries overseas, including Hungary, France, nations in the Middle East, and Australia.
I was so impressed with the plant’s employees, like those of so many other companies across the state, whose hard work and knowledge of their field make it possible for Nebraska to enter into new markets and advance the United States in an increasingly competitive global marketplace. Nebraska companies sold their products in 189 international markets last year, Business Roundtable notes.
According to the Nebraska Department of Economic Development, almost 2,000 companies exported from Nebraska locations in 2011. Notably, more than 80 percent of those companies had fewer than 500 employees, including many small businesses. These enterprises are stationed in our local communities, and they create good jobs. They are also key to boosting export opportunities and international trade.
As a member of the Senate Small Business Committee, I’m committed to engaging in efforts to help increase exports for smaller companies. I supported an amendment offered by my colleagues on the committee to demonstrate support for programs that enhance the access of small businesses to foreign markets.
To continue to expand exports from the United States, we must explore new trade opportunities and strengthen existing alliances with other countries. The importance of promoting free and fair trade is an area of bipartisan agreement in Washington. This consensus should make smart trade policy a top priority for lawmakers in Congress.
Recently passed free-trade agreements with Panama, South Korea, and Colombia have already resulted in growth in Nebraska and across the country. I believe we should pursue beneficial partnerships while also ensuring we hold other nations accountable for unfair trade practices that hurt American workers and our economy.
I will continue to work with my colleagues on both sides of the aisle to find new destinations in the global market for Nebraska goods and services. We have a lot to offer not just our nation, but the whole world, and expanding trade is one way we can actually spur long-awaited economic growth.
Thank you for taking part in our democratic process, and I look forward to visiting with you again next week.