The Illinois Department of Commerce & Economic Opportunity announced that the Office of Trade and Investment (OTI) received a grant from the State Trade Expansion Program (STEP) grant awarded by the Small Business Administration (SBA). The $890,000 in federal funds will support export growth among Illinois small businesses. Since 2011, the State of Illinois has received a total of $4.8 million in STEP funding from the SBA. Read the full press release here.
Illinois’ State Trade and Export Promotion (ISTEP) program provides small businesses with financial and technical assistance to increase exports. Eligible companies may participate in group trade missions, individual sales missions, receive assistance for product compliance, prepare international marketing campaigns and participate in general export education.
Illinois is the largest exporting state in the Midwest, and the fifth largest exporting state in the country. Illinois companies reported exports of over $59.7 billion in 2016.
For more information about the ISTEP program, contact Kathie Cravens (our International Trade Specialist) at email@example.com.