The Office of International Trade was created by the legislature within the New Mexico Economic Development Department to support job creation, retention, and expansion by assisting New Mexico companies to capitalize on opportunities in the competitive global marketplace.
Success in the export market is critical for small and mid-size companies since it is estimated that 96 percent of consumers are located outside the U.S. By recent estimates companies that export pay higher salaries on average and have reported a 32 percent increase in revenue as opposed to a 19 percent decrease among those companies who only pursue the domestic market.
“Funded in part through a Cooperative Agreement with the U.S. Small Business Administration.”
The State Trade and Export Promotion Grant Program (STEP) is a 3-year pilot trade and export initiative to make matching-fund grants for states to assist “eligible small business concerns,” or ESBCs to enter and succeed in the international marketplace. Services under the STEP Program are funded in part by SBA, but are provided to eligible small business concerns – or “STEP Clients” - by STEP grant recipients located in most US states and territories.
The State of New Mexico was awarded a grant of $193,700 by the US Small Business Administration (SBA) to assist eligible small business concerns in New Mexico to export their products abroad. The program offers assistance with booth space, interpreters, export training programs and US Department of Commerce, Gold Key matchmaking services in major markets abroad.
The program’s objectives are to increase the number of small businesses that are exporting, and to increase the value of exports for those small businesses that are currently exporting.
STEP services are managed and provided at the local level by the New Mexico Economic Development Department, Office of International Trade. The program is managed at the national level by the U.S. Small Business Administration’s Office of International Trade. At the state level, the New Mexico STEP Program has total Federal funding of $193,700, for use over a two-year period beginning on October 01, 2015 to September 30, 2016.
The State of New Mexico is utilizing funding under the 2015 STEP Grant to assist New Mexico companies with booth fees and assistance for all the trade show, trade mission and Gold Key service activities as listed below with the specific dates and industries covered by the event. New Mexico companies must request assistance prior to submission of a new STEP grant proposal in order to be on the list for future trade events and activities. Eligible small business concerns that did not submit a request might still be eligible for assistance with Gold Key service arrangements or trade shows subject to cancellation by companies included in the original proposal.
Eligible small business concerns from the State of New Mexico must complete and submit an SBA Certification Form and a Sales Survey which are utilized to determine eligibility for the program and to track sales.
Services provided to small and mid-size businesses in New Mexico:
For more information or to schedule an international trade consult for your business, please contact Edward Herrera at 505-827-0315 or Edward.Herrera@state.nm.us