By Patrick Adcock Metro Atlanta leadership announced the launch of the 2017 Atlanta Metro Export Challenge – a grant program targeting local companies with innovative export strategies. JPMorgan Chase provided $100,000 toward the renewal of the program, and this year they are joined by UPS and Partnership Gwinnett.
Metro Atlanta leadership announced the launch of the 2017 Atlanta Metro Export Challenge – a grant program targeting local companies with innovative export strategies. JPMorgan Chase provided $100,000 toward the renewal of the program, and this year they are joined by UPS and Partnership Gwinnett.
“JPMorgan Chase is pleased to support Atlanta businesses that are going global,” said David Balos, head of JPMorgan Chase’s Middle Market Commercial Banking group in Georgia. ‘’We hope the next phase of the Metro Export Challenge program will enable these local firms to spend time in their target international markets, so they can visit suppliers and potential customers. In time, their export efforts could lead to job creation and growth of the metro Atlanta economy.”
Last year, Atlanta MEC successfully supported a group of 38 companies in expanding their exporting capabilities through an initial grant round. Each company received $5,000, and a select few moved on to round two of the challenge involving a Pitch Day session in front of a panel of judges. Three top winners, Aventure Aviation, Pure Air Filtration and United Sciences, received grants of $20,000, $10,000 and $5,000, respectively. Total awarded grant money for last year’s Atlanta MEC was $225,000.
Atlanta MEC supports companies in many tangible ways. Due to challenge activity last year, 17 companies were able to export specifically thanks to grant support. Another 17 companies exported to new markets for the first time, and 11 companies increased their sales versus the previous year according to a survey conducted among the participating companies in last year’s challenge.
Atlanta MEC is a critical component of the Atlanta Metro Export Plan, seeking to drive economic growth in the region and produce quality jobs through exports. Atlanta MEP falls under the umbrella of the Global Cities Initiative, a joint project established by the Brookings Institution and JPMorgan Chase intended to build awareness of the importance of international markets. According to the U.S. Department of Commerce, every $1 billion in exports creates 6,000 new jobs in a region. Coupled with the fact that 95 percent of the world’s consumers are outside of the U.S., the impact of international trade can redefine regional markets.
Applicants interested in applying to the Atlanta MEC must first complete an assessment before submitting a formal grant application, due by May 19.
For a chance to learn more from previous winners, be sure to RSVP for the Atlanta MEC meet and greet on Tuesday, May 9 at Red Brick Brewing Company from 5:30-7:30 p.m. Refreshments and hors d’oeuvres will be provided.
For more information on the Atlanta MEC: www.AtlantaExportPortal.com
About JPMorgan Chase & Co.
JPMorgan Chase & Co. (NYSE: JPM) is a leading global financial services firm with assets of $2.5 trillion and operations worldwide. The Firm is a leader in investment banking, financial services for consumers and small businesses, commercial banking, financial transaction processing, and asset management. A component of the Dow Jones Industrial Average, JPMorgan Chase & Co. serves millions of consumers in the United States and many of the world’s most prominent corporate, institutional and government clients under its J.P. Morgan and Chase brands. Information about JPMorgan Chase & Co. is available at www.jpmorganchase.com.