LAS VEGAS – The U.S. Small Business Administration (SBA) awarded Nevada more than $250,000 to help small businesses expand their reach into new markets around the world, more than doubling last year’s award.
The Nevada Governor’s Office of Economic Development (GOED) uses the funding through the SBA’s competitive State Trade Expansion Program (STEP) grant to help Nevada small businesses pay for export-related expenses. Since 2011, GOED has received about $1.5 million in STEP grant funding. SBA announced last week GOED received $257,914 to award to small businesses up from the $125,000 Nevada was awarded last year.
“At the heart of Nevada’s economy are our small businesses and supporting their expansion into foreign markets will nurture their success,” Gov. Sisolak said. “More than 480,000 Nevadans are employed by a small business. Nevada’s economy is stronger and more resilient because of the success of small businesses.”
This year GOED has helped fund the export development activities for 13 small businesses with $90,000 in awards that is expected to help them generate more than $3 million in foreign sales. Small businesses from Elko to Boulder City to Henderson to Las Vegas have benefited from this program. Businesses can get awards to assist with pre-approved export expenses such as foreign market sales trips, trade show activities, international marketing materials, export trade show exhibits, overseas interpreters and training workshops.
“STEP grants continue to be an important tool to assist small businesses with the resources they need to be competitive in international markets,” said GOED Interim Executive Director Kristopher Sanchez. “GOED supports small businesses by providing access to federal funding to open up new markets to Nevada business owners which help supports the growth of our state’s economy.”
Since 2011, the STEP program has awarded approximately $157 million in grants states to fund export opportunities and increase the footprint of small businesses in countries all over the world. Nevada businesses are encouraged to learn more about the STEP grant application process.
For more information about the Nevada GOED’s STEP grants or to apply, visit goed.nv.gov. The STEP program is funded, in part, through a grant with the U.S. Small Business Administration.
About the Governor’s Office of Economic Development
Created during the 2011 session of the Nevada Legislature, the Governor’s Office of Economic Development is the result of a collaborative effort between the Nevada Legislature and the Governor’s Office to restructure economic development in the state. GOED’s role is to promote a robust, diversified and prosperous economy in Nevada, to stimulate business expansion and retention, encourage entrepreneurial enterprise, attract new businesses and facilitate community development. More information on the Governor’s Office of Economic Development can be viewed at goed.nv.gov.