Full video of Senator Rosen’s opening remarks can be found HERE
WASHINGTON DC – Today, U.S. Senator Jacky Rosen (D-NV) led a hearing of the Commerce Subcommittee on Tourism, Trade, and Export Promotion to examine the current landscape for rural export businesses and the challenges facing American rural businesses as they work to access international markets. The hearing also examined the resources available to support rural business owners as they start or expand export businesses, the importance of rural businesses to local economies, and the tools needed by rural businesses to compete globally. The hearing witnesses included Reed Westcott, Executive Director of the Small Business Exporters Association; Dillon Jacob Davidson, Senior Trade Officer at the Nevada Department of Agriculture; and Gary Salamido, President and CEO of the North Carolina Chamber of Commerce.
“[Exports] are vital to our nation’s economic prosperity. In 2021, exports of goods and services made up over 10 percent of U.S. GDP and supported about 9 million American jobs,” said Senator Rosen in her opening statement. “International trade has similarly become an increasingly important part of Nevada’s economy, my home state, with the state exporting $10 billion worth of goods in 2022 along with supporting over 400,000 Nevada jobs.”
“While exporting is a key driver of our national and state economies, it can also serve as a catalyst for growth for many businesses. Access to international markets enables businesses to grow faster, create more jobs, pay higher wages… than non-exporting companies, ” Rosen continued. “And additionally, exporting can provide a buffer for businesses during the fluctuations in the U.S. economy – providing access to diverse revenue streams, reducing dependence on the domestic market, and enabling them to stay in business.”
Senator Rosen has been a champion for Nevada’s small and rural businesses. Earlier this year, Senator Rosen led her colleagues in sending four letters to Senate Appropriators requesting funding to support a wide array of small businesses in Nevada. Last year, she hosted a roundtable discussion highlighting an agreement between the Department of Agriculture and the Small Business Administration to support rural small businesses. She also helped introduce the Expanding Access to Capital for Rural Job Creators Act to eliminate hurdles small businesses in rural areas face when trying to access capital and the One Stop for Small Business Licensing Act to create a centralized online resource hub for small businesses to access information about federal, state, and local permitting requirements.
###
