70.7 F
New York
Wednesday, June 12, 2024
HomeBusinessU.S. Department of Commerce Announces 2023 Market Development Cooperator Award Recipients

U.S. Department of Commerce Announces 2023 Market Development Cooperator Award Recipients

Federal Funding to Support U.S. Businesses Expand Exports and Create Jobs

Today, U.S. Secretary of Commerce Gina M. Raimondo announced the two new recipients of the 2023 Market Development Cooperator Program (MDCP) grant awards for projects aimed to boost U.S. exports and support jobs across the country. Administered by the U.S. Department of Commerce’s International Trade Administration (ITA), the MDCP program awards cooperative agreements that establish partnerships between ITA and non-profit industry groups through which ITA provides technical and financial assistance up to $300,000 for three-to-five-year export-development projects that address trade barriers, enhance U.S. industry competitiveness, and sustain U.S. jobs. 

This year’s MDCP awards include $299,241 to the Association for Advancing Automation (A3) based in Michigan, and $147,348 to Medical Alley in Minnesota. Through these awards, the two recipients will be able to leverage ITA’s global network of more than 2,000 experts in over 80 international markets to pursue sustainable projects that will help strengthen the U.S. economy and workforce. Each federal dollar awarded yields, on average, $286 in U.S. exports making MDCP the most successful federal export cooperative agreement program. 

“I am thrilled to congratulate the Association for Advancing Automation and Medical Alley on their innovative projects to help increase U.S. job creation and enhance economic prosperity through exports,” said Secretary Raimondo. “For over 30 years, the U.S. Department of Commerce has issued MDCP awards that help U.S. firms across industries elevate their global competitiveness by working to eliminate barriers to trade and expanding export opportunities to more small- and medium-sized businesses across the United States.” 

Representing the automation industry, the Association for Advancing Automation (A3), will utilize the MDCP award to support U.S. firms in expanding their exports of equipment and services to Mexico and India. Partnering with a team of ITA staff based both in the target markets and the United States, A3 will connect U.S. companies with prospective partners and buyers of robotics and automation products and services in Mexico and India. The association plans to organize trade missions and provide export training to help U.S. automation companies navigate international markets and increase their global presence. 

Medical Alley will use the MDCP award to expand U.S. exports of specialized healthcare consulting services to the United Kingdom, the Netherlands, and Romania. Recently adopted medical device regulations in the United Kingdom and the European Union have firms in those markets seeking help with compliance. The regulations also present both a challenge and an opportunity for U.S. manufacturers of medical devices. Assisted by a team of U.S.- and international-based ITA experts, Medical Alley intends to grow U.S. exporter skills and opportunities by assisting with trade fair registration costs, market research, marketing materials, and matchmaking. 

For more information about the Market Development Cooperator Program, visit www.trade.gov/mdcp.  

Originally posted at https://www.commerce.gov/news/press-releases/2023/10/us-department-commerce-announces-2023-market-development-cooperator

seo servicesseo services

Latest stories

expensive lifestyleexpensive lifestyle