Addressing Federal Issues of CompetitivenessSeptember 17, 2018
We heard from Sens. Graham and Scott, and Reps. Duncan, Gowdy, Wilson, Norman and Rice during the forum. A common theme that emerged: although we hear hyper-partisan rhetoric, it’s important that we engage in meaningful discussions about policy issues with people who bring a variety of perspectives.
- We echo the U.S. Chamber of Commerce and the Upstate Chamber Coalition in supporting free trade and multilateral agreements, and see the current escalating tariff situation to be a threat to the viability of Upstate businesses.
- South Carolina and the Upstate both are heavy export regions – meaning that our economies are based upon the idea that South Carolinians produce goods or services that are sold throughout the globe.
2017 Export Volumes:
- Upstate – $11.19 Billion
- South Carolina – $27.42 Billion
- United States – $1,993.87 Billion
Total (direct and indirect combined) Export Jobs:
- Upstate – 66,273
- South Carolina – 164,242
- United States – 12,689,759
- As a region whose economy has grown as a result of international business, we also recognize that a strong U.S. Commercial Service helps to attract foreign investment to grow U.S. jobs, while also leveling the playing field for U.S. businesses overseas.
- For every $1 of appropriations, the U.S. Commercial Service has seen $199 in U.S. exports and inward investment returns. In FY17, the service assisted 30,000 companies, and 83 percent were small/medium-sized.
- From FY16-18, the service has lost 28 field service officers. While foreign offices remain open, hiring has slowed and funds have been diverted to domestic tariff work.
- Our hope is to see increased field presence of U.S. Commercial service teams through filling of vacancies.
Expressing support for continued operation of the EX-IM Bank:
- In May, Anderson County industry Tactical Medical Solutions was named as the EXIM’s 2018 New Exporter of the Year – an example of the type of international growth that can inspire businesses of all sizes to create jobs at home. EXIM supported the company with $400,000 in export sales annually for the past three years, including new overseas markets.
- Within South Carolina, EXIM has supported 72 companies, 17,056 jobs and $2.669 million in export sales.
- SC Beneficiaries include: Boeing; Sage Automotive Interiors; Grace Management Group; Confluence Outdoors; Wellstone Mills.
Many thanks are due to the Upstate’s federal elected officials for their work to represent our region and willingness to explore issues of economic competitiveness, and to the Upstate Chamber Coalition and Congressional staff members for making this trip a reality.